Statspeak: Wary of fraud

Seventy per cent of respondents in a recent survey of companies with over Rs 200-crore turnover and/or over 200 employees felt incidents of financial fraud would increase in the next two years. Diminishing ethical values (68 %), limited/lack of segregation of duties (68 %) and limited employee education on fraud (60 %) were cited as the top three reasons that contribute to fraud.