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Kroll Global Fraud Report


The tide has changed in the global fight against corruption, as regulatory agencies take a more aggressive approach to investigating violations and raise the penalties for abuses. The latest edition of the Kroll Global Fraud Report highlights expanded efforts by the Department of Justice (DOJ) and the Securities Exchange Commission (SEC) to increase compliance with the Foreign Corrupt Practices Act (FCPA), making the United States the clear leader in the global crackdown. Anti-bribery measures in Germany and the United Kingdom are also featured.

Read the April 2010 Edition of Kroll's Global Fraud Report online


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Annual Edition 2009/2010

The global financial services industry saw a dramatic spike in fraud activity with companies losing an average of $15.2 million over the past three years, according to the 2009/2010 Annual Edition of Kroll's Global Fraud Report. Despite sector-specific spikes and declines in fraud activity, the worldwide fraud rate remained steady in 2009. Companies lost an average $8.8 million to fraud over the past three years, an increase of seven percent over last year’s figure which stood at $8.2 million. The findings are the result of a survey Kroll commissioned from the Economist Intelligence Unit of more than 700 senior executives worldwide.

Read the 2009/2010 Annual Edition of Kroll's Global Fraud Report online

Senior Managing Director Pete Turecek
discusses the findings of Kroll's Global Fraud Report.

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Download the Global Fraud Report presentation.

Kroll Global Fraud Report - Annual Edition 2009/2010 Overview Presentation

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Kroll's Global Fraud Report is a quarterly publication that serves as a practical guide to preventing, detecting, investigating and recovering from fraudulent activity.

The Report brings together a wide range of expertise from Kroll’s experienced professionals, which include some of the world’s leading forensic accountants, attorneys, investigative journalists, regulators and law enforcers. We work with some of the world’s largest corporations and governments in tackling fraud every day, and – through the Global Fraud Report – we hope to share that knowledge.


June 2009

Government stimulus funding totaling $5 trillion has unintentionally introduced new opportunities for fraud and corruption worldwide, according to the latest edition of the Kroll Global Fraud Report. The report reinforces the global risk consultancy’s consistent call for greater transparency and compliance among organizations worldwide, and coincides with FBI Director Robert Mueller’s recent announcement that corruption and fraud tied to stimulus spending may be the “next wave” in financial fraud cases.

Read the June 2009 edition of Kroll's Global Fraud Report online

Download the latest Report in .pdf format:

Kroll's Global Fraud Report is a quarterly publication that serves as a practical guide to preventing, detecting, investigating and recovering from fraudulent activity.

The Report brings together a wide range of expertise from Kroll’s experienced professionals, which include some of the world’s leading forensic accountants, attorneys, investigative journalists, regulators and law enforcers. We work with some of the world’s largest corporations and governments in tackling fraud every day, and – through the Global Fraud Report – we hope to share that knowledge.


March 2009

The global recession is creating a host of challenges which are new and unfamiliar to most executives and regulators today. Among these is how fraud risks change in a downturn, and how anti-fraud strategies must adapt. The March 2009 edition of Kroll’s Global Fraud Report examines the rapid shifts taking place on fraud’s front line.

Read the March 2009 edition of Kroll's Global Fraud Report online

Download the latest Report in .pdf format:

January 2009

Market downturns traditionally reveal crimes which took place in preceding boom years, but even while doing so they provide new opportunities for criminals and different vulnerabilities for companies. Fraud remains, but its forms change, and successful anti-fraud strategies must too.

Covering a range of issues, the articles in the latest edition of Kroll's Global Fraud Report seek to shed light on aspects of the changed economic landscape.



Special Edition: Satyam

On January 7, 2009, the founding chairman of Satyam, India's fourth largest IT export firm, confessed to years of fraudulent accounting: the company's stated cash reserves were largely imaginary.

This special edition of Kroll's Global Fraud Report asks, "Who may have gained from the Satyam fraud?" and addresses the roots of the fraud.



Special Edition: Ponzi Schemes

As news spreads of Bernard Madoff’s alleged $50 billion fraud, many are wondering what exactly a Ponzi scheme is and how to avoid becoming a victim.

This special edition of Kroll's Global Fraud Report helps answer some of the most pressing questions, including: What is a Ponzi scheme? How much due diligence is appropriate? and Where's my money?



Special Edition: The Economic Crisis

The current economic crisis has stricken many of our clients like no other calamity in anyone’s memory.

The challenges facing CEOs, CFOs and chief counsels are tough, the issues are difficult to size up, and often there is little hard, publicly available information to go on.

This special edition of Kroll's Global Fraud Report addresses fact finding and asset recovery in the economic crisis; internal investigations, government cooperation and privilege; expanded due diligence; and the flotsam and jetsam that floats to the surface in a financial storm.



Annual Global Fraud Report (2008/2009)

Kroll commissioned the Economist Intelligence Unit to conduct a worldwide survey on fraud and its effect on business during 2008.

A total of 890 senior executives took part in this survey. A third of the respondents were based in North and South America, 30% in Asia-Pacific, just over a quarter in Europe and 11% in the Middle East and Africa. Ten industries were covered, with no fewer than 50 respondents drawn from each industry. A total of 42% of the companies polled had global annual revenues in excess of $1 billion.

This report brings together these survey results with the experience and expertise of Kroll and a selection of its affiliates.



Investigations (July 2008)

You have made a large acquisition after months of due diligence. Your own trusted people are overseeing operations, but earnings are not meeting projections. Then, an anonymous letter alerts you to a possible fraud. What should you do? How should you investigate?

Dealing with corporate fraud increasingly requires multi-purpose teams, bridging legal, accounting, technology and investigative skills. The July 2008 edition of Kroll’s Global Fraud Report explores some of the complexities of a successful investigation.



Supply Chain (April 2008)

As companies expand globally, outsource business operations and add new IT systems, they become more vulnerable to fraud, according to the April 2008 edition of Kroll's Global Fraud Report.

The Report highlights the growing danger of supply chain fraud to businesses worldwide. Large companies have increasingly become “extended enterprises” as they have globalized, outsourced, re-engineered their business processes, brought business partners and vendors closer and specialized their functions. The result makes them more complex and leaves them vulnerable to an array of frauds ranging from simple theft, to the misrepresentation of inventory to fool investors, through to counterfeiting, grey market diversion and piracy.

 

Intellectual Property (January 2008)

Intellectual property (IP) fraud has skyrocketed over the past ten years due to better access to Internet distribution channels and more criminal networks turning to IP fraud to finance operations, according to the January 2008 edition of Kroll's Global Fraud Report.

The report cites European Union Customs statistics that show a 1,000 percent increase in counterfeit goods in Europe between 1998 and 2004. The World Customs Organization puts the total figure of counterfeiting and piracy at $650 billion or five to seven percent of world trade.

 

Annual Global Fraud Report (2007/2008)

Kroll commissioned The Economist Intelligence Unit to conduct a worldwide survey on fraud and its effect on business during 2007.

A total of 892 senior executives took part in this survey. A third of the respondents were based in Europe, 32% in Asia-Pacific and 30% in North and South America. Ten industries were covered, with no fewer than 50 respondents drawn from each industry. Fully 38% of the companies polled had global annual revenues in excess of $1 billion.

This report brings together these survey results with the experience and expertise of Kroll and a selection of its affiliates.

 

Corruption and the FCPA (June 2007)

The June 2007 edition of the Kroll Global Fraud Report focuses on corruption and the effect of the U.S. Foreign Corrupt Practices Act (FCPA) on companies. Download the Report (.pdf) below.