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July 17, 2003
A recent survey by PricewaterhouseCoopers found that 24 per cent of Indian companies have experienced significant economic crimes over the last two years with product piracy and fraud being the most widespread.
Banks and public sector organisations too are victims of different kinds of frauds.
Some time ago, stock broker Ketan Parekh sent the Indian bourses into a tizzy, and the markets had hardly recovered from the securities scam triggerred off by Big Bull Harshad Mehta. Even before the dust settled on these scams, the Unit Trust of India and a host of co-operative banks found themselves in the eye of the storm.
Do you think financial or corporate crimes are on the rise in India? What would you say is the cause for these scams: lack of monitoring, corruption in high places, pure greed.? Tell us what you think.
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