As the world’s second most commonly reported economic crime ranking above bribery, corruption and cybercrime, procurement fraud can emerge in any organisation that fails to acknowledge and address it.
Procurement fraud lowers revenues, ruins reputations and distracts from the crucial work of businesses. What’s worse is that it usually hides in plain sight.
To answer these and other questions, SAS has recently surveyed 850 business leaders from Finance, Procurement, Internal Audit, Compliance and Ethics across EMEA for their opinions and experiences of procurement fraud and to understand the scale of the problem. The report also looks at the various ways organisations try to recognise and tackle the problem.
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