May 20 2018
Over a third of Singapore businesses said they were hit by fraud in the last two years as threats increased and detection methods improved.
According to a global survey conducted by PwC every two years, the proportion is a sharp rise from 2016, when just 22% of organizations in the city-state said they reported economic crime, Nikkei reported.
The increase echoes the global trend, the survey found. The economic crime and fraud survey examined over 7,200 respondents from 123 territories, of which 118 were from Singapore.