Russian Economic Crime Survey 2016

About the Survey

We are pleased to present the results of the 2016 Economic Crime Survey in Russia. The results are based on the responses submitted by the Russian participants in the eights Global Economic Crime Survey conducted by PwC.

Over 6,000 participants from 115 countries, including representatives of 120 Russian organisations participatedin the global survey.

Since 1999, the purpose of the survey is to seek respondents views on economic crime in general, on its causes, method of detection and prevention, and consequences of economic crime.

Our survey this year focuses on three key areas: Ethics and compliance programmes, Anti-Money laundering and Cybercrime. In addition to highlighting specific areas of economic crime worth focusing on, we emphasise the things you can do better to tackle them – implementing more sophisticated and effective measures that can reduce these risks.

Participation Statistics

Economic Crime Trends

  • The most common types of fraud are asset misappropriation (72%), procurement fraud (33%), bribery and corruption (30%), and cybercrime (23%)
  • 20% of economic crimes in Russia were initially detected by internal audit functions and 15% - by corporate security
  • 84% of respondents reported that opportunity or ability to commit a crime is a major cause of economic crime, followed by incentive or pressure (8%) and the ability to rationalize such an action (8%)
  • At least 41% of respondents believe that their organisations are likely to experience an economic crime over the next 24 months

Ethics & Compliance

  • 87% of respondents reported that their organizations have developed a comprehensive code of conduct
  • However, only 68% of these respondents indicated that regular training on their respective codes of conduct have been carried out
  • Every second respondent claim employee morale is the largest casualty of economic crime
  • 81% of companies rely on internal audit to ensure effectiveness of their compliance programmes, but is this the most effective path?

Cybercrime

  • Only 26% of organisations have a cyber incident response plan
  • 43% of CEOs are concerned about cyber security
  • 25% of companies believe that they will be affected by cybercrime in the next two years

Anti-money laundering

  • 29% financial services respondents have experienced enforcement actions by a regulator
  • 58% of respondents in Russia cited the pace of regulatory change as the biggest challenge for effective AML compliance
  • 52% of financial services respondents reported challenges with complexity of implementing/ upgrading systems
  • Only 57% of money laundering or terrorist incidents were detected by system alerts

Contact us

Irina Novikova

Partner, Forensics Services, PwC Russia

Tel: +7 (495) 232 5735

Inna Fokina

Partner, Forensics Services, PwC Russia

Tel: + 7 (495) 967 6382

Tatiana Vostrova

Director, Forensics Services, PwC Russia

Tel: + 7 (495) 223 5086

Anton Ulyakin

Manager, Forensics Services, PwC Russia

Tel: +7 (495( 967 6000

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