The cost of fraud for companies increased by 30% over a year to reach almost 1 billion Pounds (nearly 1,5 billion euros) in Great Britain in 2005, according to an investigation of the accounting cabinet BDO Stoy Hayward, which also points to an increase in the number of fraud cases in companies. Something is rotten in the kingdom of whistle-blowing, (Ref. 06256)
The fraud committed by employees (fraudulent invoices, corruption, etc.), in opposition to embezzlement of the direction, increased even more spectacularly: + 80% in a year, and +200% between 2003 and 2005. Meanwhile, according to BDO ’s study, most honest employees are reluctant to denounce frauds.
90% of the employees surveyed said they would like to be able to denounce the embezzlements they witness, but few of them are ready to do it, either that they are unaware of the exact procedure,...
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