Fraud go undetected for longest period in Asia:KPMG
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Fraudsters go undetected for a longer duration in Asia, with a survey revealing that frauds in the region sometimes do not come into the light for ten years or more.
In Asia, it takes longer to detect frauds than any other region in the world, says a global consultancy KPMG report, released today.
"The duration of fraud prior to detection in Asia is an average of five years, with 16 per cent of frauds going undetected for 10 years or more, compared to 4.2 years in North America and 3.7 years in Western Europe," it said.
In India, a whopping 88 per cent of frauds are not communicated while enforcement action is initiated in one-quarter of cases and disciplinary action is taken in 25 percent of investigated cases, according to the KPMG report. (PTI)
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