The impact and nature of fraud have changed in 2022 as the world recovers from the COVID-19 pandemic.
The highly volatile economic and geopolitical climate has created numerous problems for businesses and people worldwide. Financial instability and employment uncertainty have heightened these risks, increasing the chances of fraudulent activities that could hurt businesses further.
Fortunately, research shows that the fraud rate among businesses remains stable this year. According to a report from PwC, fraud, corruption, and economic crimes have not increased since 2018. Forty-six percent of companies surveyed reported experiencing fraud, corruption, and economic crime in 2022, against 47 percent in 2020 and 49 percent in 2018.
But the problem is the substantial impact of these crim...