PwC’s Global Economic Crime Survey 2016 (Malaysia report)
Economic crime from the board to the ground: Why a disconnect is putting Malaysian companies at risk
Two years have passed since PwC studied the pervasiveness of economic crimes like cybercrime, asset misappropriation and procurement fraud among businesses in Malaysia.
The Global Economic Crime Survey 2016 (Malaysia report) focuses on three key areas – bribery and corruption, ethics and compliance and Anti-Money Laundering – which present significant implications to the future of business in Malaysia.
Bribery and corruption incidences for instance, are on the rise, amidst an increasingly complicated risk landscape.
While such economic crime risks are increasing in complexity, Malaysian companies are not evolving fast enough to mitigate them.
The report discusses the tools, programmes and behaviours critical to an organisation’s strategy to combat economic crime. It recommends the need for strategic preparation, which needs to be incorporated into day-to-day decision-making and supported by a strong tone at the top and robust corporate ethics.
At the speed with which the risk landscape is evolving, combating rampant economic crimes can no longer be the sole responsibility of a person or team; it must be embedded within the whole organisational culture.
Check out the infographic below:
