How fraud has grown in India over the years
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KPMG, one of the largest professional services companies in the world and one of the big four auditors, surveyed 293 CXOs from Indian and multinational companies with presence in India to find how fraud has grown.
Let's take a look at how fraud has grown in the country.
The term may be used to refer to a chief executive, a chief operating officer, a chief financial officer, or a chief technology officer.
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Image: Construction workers erect scaffolding at the site of a commercial building in Mumbai.
Photographs: Vivek Prakash/Reuters
How fraud has grown in India over the years
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Value of fraud
Average value of fraud loss reported by respondents:
Year 2006: Not quantifiable
Year 2008: Less than Rs 1 lakh
Year 2010: Between Rs 10 lakh to Rs 1 crore
Year 2012: Rs 1 crore
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Image: A man constructs a temporary tent in Mumbai.
Photographs: Danish Siddiqui/Reuters
How fraud has grown in India over the years
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Perpetrators
Year 2006: Employees, (employee plus supplier)
Year 2008: Employees (mainly senior management)
Year 2010: Employees (senior and junior management)
Year 2012: Vendors/agents
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Image: An employee cleans the floor inside a shopping mall in Mumbai.
Photographs: Danish Siddiqui/Reuters
How fraud has grown in India over the years
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Sophistication of fraud:
Year 2006: Expense account fraud, forgery
Year 2008: Kickbacks, theft of intangible assets
Year 2010: Bribery and corruption, sales fraud
Year 2012: E-commerce/Internet-related frauds, bribery and corruption
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Image: A boy plays on a giant trampoline in Mumbai.
Photographs: Ahmad Masood/Reuters
How fraud has grown in India over the years
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Frauds of the future:
Cyber crime
Identity theft
Counterfeiting and piracy
Intellectual property theft
Bribery and corruption
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Image: Vendors hold bags of cotton candy for sale as they look for customers in New Delhi.
Photographs: Ahmad Masood/Reuters
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