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Research & Studies

Economic Crime in Economic Crisis | Czech Republic

Economic crime continues to be a serious issue affecting organisations worldwide, across Central & Eastern Europe (“CEE”) and in the Czech Republic. 24% of companies in the Czech Republic experienced one or more economic crimes in the past 12 months ...

ČESKY: Hospodářská kriminalita v období hospodářské krize

KEY FINDINGS:

• Economic crime continues to be a serious issue affecting organisations worldwide, across Central & Eastern Europe (“CEE”) and in the Czech Republic. 24% of companies in the Czech Republic experienced one or more economic crimes in the past 12 months; below the average for CEE (34%) and globally (30%). As most fraud in the Czech Republic is detected by chance as opposed to via anti-fraud systems, these numbers indicate that a lot of fraud remains undetected.
• Fear of losing their jobs (58%) and a belief that competitors were paying bribes to win contracts (33%)
  increased the pressure on companies to commit fraud in the Czech Republic in the current economic climate. A belief that “others do it so it is OK” is also a common way to rationalise fraud in the Czech Republic (60%) and in CEE (58%) compared to the global level (35%).
• 50% of respondents who had suffered fraud had suffered accounting fraud, which shows it has become
  increasingly prevalent, particularly fraudulent applications for borrowing/ raising finance and credit. Asset misappropriation remains the most common type of economic crime reported in the Czech Republic (60%).

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AmCham Partners