Money Mantra: tackling corporate fraud
A KPMG survey, which identifies cyber-crime, intellectual property theft and identity theft as frauds of the future, suggests that 70% of the surveyed firms have no effective mechanism to tackle futuristic frauds, and also up to 5% of annual revenues generated by the companies are likely to be wasted in frauds. Experts, Rohit Mahajan, partner and co-head forensic services of KPMG, Joginder Singh, former director at CBI, and senior corporate lawyer Aseem Chawla, discuss the severity of the issue.
