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Survey Finds Fraud Hits Companies Hard

NEW YORK - A recent U.S. Economic Crime Survey by the law firm of Wilmer, Cutler & Pickering and Pricewaterhouse Cooper finds that 37% of U.S. based companies were victims of fraud in the last two years. According to the survey, fraud in the form of asset misappropriation accounted for...

By Staff Writer | Updated on July 15, 2003

NEW YORK – A recent U.S. Economic Crime Survey by the law firm of Wilmer, Cutler & Pickering and Pricewaterhouse Cooper finds that 37% of U.S. based companies were victims of fraud in the last two years. According to the survey, fraud in the form of asset misappropriation accounted for 25% followed by cybercrime at 8%. In addition, fraud can impact a company’s intangible assets. Over 75% of the incidences had a negative impact on a company’s reputation, staff morale and motivation, in addition to damaging business relationships.

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