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Pressure pushes employees to commit fraud
Global cases of fraud have increased despite new anti-bribery laws as under-pressure employees attempt to deliver growth despite tough economic times, the latest Ernst & Young Fraud Survey today revealed.
Qualified solicitors are increasingly being targeted by fraudsters using their details on fake law firm websites
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The survey found that one in five of some 3,500 staff included in the survey – representing 36 countries from Europe, the Middle East, Africa and India – claimed to have seen financial manipulation in their companies in the last 12 months, reports Business Insider.
Irregular reporting
The London-based professional services firm also found that 42 per cent of board directors and top managers surveyed said they were aware of ‘some type of irregular financial reporting’.
Around a quarter of top financial services staff said they were aware of manipulation while almost 10 per cent of all staff said their companies had understated costs, overstated revenues or used unprincipled sales tactics.
‘Our survey shows that to find growth and improved performance in this environment, an alarming number appear to be comfortable with or aware of unethical conduct,’ said David Stulb, head of Ernst & Young's fraud investigation and dispute services practice.
