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EY Fraud Survey 2017 – Human Instinct and Machine Logic meet

We are delighted to share with you the findings of EY Fraud Survey 2017: Human Instinct, Machine Logic – which do you trust more in the fight against fraud and corruption?

The survey, which is our largest yet, represents the views of 4,100 board members, managers and employees in 41 countries and provides compelling insight into perceptions of fraud, bribery and corruption across the region.

It highlights new risks to businesses as they operate in an increasingly uncertain economic environment. Popular discontent with globalization, political instability and slower growth in emerging markets are placing pressure on companies as they seek alternative ways to meet ambitious revenue targets.

At the same time, the challenges of fraud, bribery and corruption remain. Our survey reveals that unethical conduct and mistrust among colleagues are key characteristics of today’s workforce, particularly among younger generations. Worryingly, those individuals who have concerns are either hesitant to, or do not know how to come forward.

Some of our specific findings include:

Irish results

17% of Irish employees are prepared to make cash payments to help a business survive
22% are prepared to act unethically in order to improve their own career progression or remuneration package
47% of Irish respondents believe bribery and corrupt practices are widespread in Ireland – significantly higher than the Western European average of 33%
The research also shows that there has been a decline in the number of respondents hearing senior management communicate about the importance of maintaining high ethical standards – down from 34% to 28%

EMEIA Finanical Services results:

80% agree that prosecuting individuals would help deter fraud, bribery and corruption
20% feel that offering cash payments to win or retain business can be justified if it helps the business survive
20% would be prepared to act unethically to improve their own career progression or remuneration package
46% say that fear for their personal safety would prevent them from reporting an incident of fraud, bribery or corruption within their business
51% feel believe that bribery/corrupt practices happen widely in business

The report identifies the need to harness new technologies to identify and mitigate external threats to businesses. Whilst analyzing data is key to identifying issues of impropriety, our survey found a tension between opinions about what data companies should monitor and the types of surveillance that their employees consider a violation of privacy. For example, 75% of our respondents say their companies should monitor data sources such as emails, telephone calls or messaging services, yet 89% of respondents would consider monitoring these data sources to be a violation of their privacy.

Our report explores these issues and the implications for business in more detail. You can access the full EY Fraud Survey 2017 here or by clicking on the link below.

We would be delighted to meet with you to discuss any issues raised by the report that are relevant to you. Our Fraud Investigation & Dispute Services team can help you focus your processes, structures and training to improve your corporate response to fraud and corruption, including cybercrime.

Julie Fenton

FS Partner, Fraud Investigations

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EMEIA Fraud Survey 2017

Human instinct. Machine Logic. Which do you trust most in the fight against fraud and corruption?

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EY Fraud Survey 2017 – Human Instinct and Machine Logic meet

Julie Fenton

FS Partner, Fraud Investigations

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