The Report, which was prepared by PWC by interviewing senior representatives from more than 5,400 companies in 40 countries, is including for the first time 105 leading companies within Turkey.

SpnNews - 26 Nowember 2007

Key Findings
According to the report prepared by PWC,

• 36% of Turkish companies have been victims of economic crime over the past two years.
• Corruption and bribery was perceived to be the most prevalent in businesses in Turkey; however, only 6% of the companies that responded to the survey reported that they had experienced an incident of corruption and bribery during the past two years.
• The most widely reported fraud in Turkey was the theft of company assets.
• The average direct financial loss per incident resulting from economic crime in Turkey was USD 3.9 million which was significantly higher (63%) than the global average of USD 2.4 million and (15%) of the CEE Countries of USD 3.4 million.
• In Turkey, 43% of companies surveyed suffered direct financial losses resulting from economic crime in excess of USD 250,000.
• 59% of the companies responding to the survey indicated that they had suffered “collateral damage” such as loss of reputation, decreased staff motivation and declining business relations.
• The single most significant incentive for individuals to commit fraud was to maintain an expensive lifestyle.
• In the vast majority of cases, the perpetrators of fraud were male, between the ages of 31 and 40 and educated up to high-school level. 80% of perpetrators had been in their position for less than five years.
• In most cases, companies had taken no action against the perpetrator. However, 21% of the companies surveyed stated they had brought criminal charges against the perpetrator. 59% of respondents indicated that they had not recovered any funds from the amount lost. 
• Despite the respondents’ growing confidence in their risk management systems, 42% of fraud was detected by chance (e.g. through tip-offs or coincidence).
• Despite the number of companies that reported fraud in our survey, only 18% of those interviewed considered it likely that their company would be a victim of fraud over the next two years.

You can find details PricewaterhouseCoopers Global Economic Crime Survey 2007, Turkey Report at below link:
http://www.pwc.com/tr/eng/ins-sol/publ/gecs2007_Turkeyreport_eng.pdf