Report: Two in five Romanian firms suffered from economic crimes

About two in five Romanian companies say they were victims to white crime in the last two years, reveals the PwC Global Economic Crime and Fraud Survey. Economic crime has reached a record level not only in Romania, but also worldwide. The level in Romania – 42% - is lower than the one reported globally – 49%, and regionally – 47%. The main economic crimes reported in Romania are consumer fraud, cybercrime and professional misconduct. A fifth of Romanian organizations surveyed by PwC estimate economic crime has caused them damages ranging from USD 100,000 to USD 1 million. Some 16% of surveyed companies reported damages exceeding USD 1 million due to economic crime. Two in three Romanian companies were affected by cybercrime in the last two years, with phishing and malware most frequently mentioned by respondents. The white crime reporting rates have improved as more companies become aware of fraud risks, and as better fraud prevention and detection mechanisms are in place, according to PwC. editor@romania-insider.com