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Economic crime in the logistics and transportation sector: Systemic and insider frauds can cause more than monetary damage


Transportation & logistics (T&L) companies are facing systemic types of economic fraud such as procurement fraud and bribery and corruption. The sector also has a high percentage of frauds committed by insiders. These crimes pose a serious challenge for a T&L company, since they can cause substantial financial losses and hurt a company’s reputation.
According to our 2014 Global Economic Crime Survey, the overall incidence of economic crime in the T&L sector is 34%, up two percentage points from 2011. Asset misappropriation is still the most common type of economic crime in this sector, followed by procurement fraud, accounting fraud, and bribery and corruption.
More on http://usblogs.pwc.com/industrialinsights/2014/12/09/economic-crime-in-the-transportation-logistics-sector-systemic-and-insider-frauds-can-cause-more-than-monetary-damage
By Robert McCutcheon, PWC Partner, Industrial Products Sector Leader

Comments

  1. The first thing that impresses is that everything is available on the island, and the picture mate every car or bus has a right-hand drive which is very doubtful ... So always have to pay attention to the little things.
    Be vigilant and vigilant always.

    ReplyDelete

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