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How fraud has grown in India over the years

Last updated on: December 4, 2012 12:15 IST

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
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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
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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
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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
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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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How fraud has grown in India over the years

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Vulnerable sectors:

Financial services

Information and entertainment

Telecom

Real estate and infrastructure

Industrial markets

Consumer markets


Image: A balloon seller takes a nap in Delhi.
Photographs: Mansi Thapliyal/Reuters

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