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One in four Singapore-based firms hit by economic crime: PwC survey

Published on Feb 26, 2014 3:58 PM

Economic crimes against businesses have risen across the globe, and firms with a presence here have not been spared.

A new global survey conducted by consultancy PwC found that one in four Singapore-based companies have experienced some form of economic crime within the last two years.

This is the first time the survey included local and locally-based firms, which made up 82 of the 5,128 respondents, PwC said on Wednesday.

Among those which had fallen prey to economic crime, 80 per cent said they had encountered asset misappropriation. This includes embezzlement, deception by employees as well as the theft of cash or supplies and equipment.

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