“In most countries approximately half of those surveyed said that there had been an increase in fraud detected in their organization during the past two years. Bucking this trend, less than 10% of Czech respondents noted an increase in detected fraud. 58% of Romanian participants have detected an increase in the incidence of fraud cases in their organization,” KPMG noted in the “Fraud and the Financial Crisis” survey.
Romanian executives noted the greatest increase in fraud for sales (86%), procurement (57%) and inventory management (57%).
“The most common types (of fraud) were conflicts of interest and collusion with business partners (45% in Romania), theft or leakage of sensitive information (43% in Romania), fraudulent disbursement (43% in Romania), misuse of sales incentives schemes (57% in Romania), and bribery and corruption (43% in Romania),” the report notes.
The survey was compiled on a sample of decision makers from Estonia, Latvia, Lithuania, Poland, the Czech Republic, Slovakia and Romania.
KPMG’s survey has also revealed that 67% of Romanian respondents said their organizations have invested in stronger internal control, with the aim of removing fraud risks.