80% OF INDIAN BUSINESS FORESEES AN INCREASE IN FRAUD CASES IN NEXT 2 YEARS: DELOITTE REPORT

On 30 November, ANI and others carried articles about a report from Deloitte which says that uncertainty and business disruption brought about by the pandemic has contributed to fears amongst corporate India about the rise in fraud cases in the future.  About 70% respondents felt that fraud losses would rise and one-third of the respondents felt losses would be between 1% and 5% of revenues.  However, for the first time, nearly 35% respondents believed that future frauds would be detected using data analytics and other technology tools (and not rely entirely on conventional approaches, such as internal audits).

https://www2.deloitte.com/in/en/pages/finance/topics/forensic/india-corporate-fraud-perception-survey2020.html

https://newsd.in/80-of-india-inc-fear-more-fraud-cases-in-next-2-yrs-deloitte-survey/

I had omitted the following link (as it did not seem to generate much interest!), but it seemed time to add it again and say that, if you would like to make a (polite) gesture and help me with my removal and computer costs, I have a page at https://www.buymeacoffee.com/KoIvM842y

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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