PricewaterhouseCoopers reports spike in economic crime
At least 45 percent of transportation and logistics companies have been victims of economic crime over the last two years, according to a new global economic crime survey by PricewaterhouseCoopers, a provider of assurance, tax and advisory services.
The survey identified the following 'common fraud schemes' that 'impact the transportation and logistics sector:'
* Financial statement manipulation.
* Misappropriation of assets.
* Unauthorized receipts or expenditures.
Other schemes include aiding and abetting actual cargo theft, fraud by senior management, and disclosure fraud after inquiries from government and law enforcement entities.
PricewaterhouseCoopers recommended in the survey that companies 'establish a baseline to assess existing antifraud programs and develop a remediation plan, conduct fraud risk assessments, and set up a standardized process for internally investigating alleged incidents of economic crime.
For more information, visit https://www.pwc.com/transport .
PricewaterhouseCoopers reports spike in economic crime
