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Business Crime: Every Second Firm Concerned

Published: November 1, 2011; 16:50 · (Vindobona)

In Austria, business crime becomes more and more obvious. Often alertness is not really given.

Business Crime: Every Second Firm Concerned / Picture: © Vindobona.org

Every second Austrian enterprise with more than 500 employees is concerned by business crime. This is the main message of a study by PricewaterhouseCoopers (PwC).

However, the number of crimes does not increase. More criminal acts are discovered. Damages caused by business crime have an indirect, but strong effect, such as a loss of reputation, a decline in working morale or a damage in business relations. “The more attention the public pays, the bigger is the pain.”, the author of the study, Steffen Salvenmoser explains.

The most important crimes are corruption and bribery (31% of the analyzed companies were concerned), cartels (29%), fraud (29%), data theft (26%) money laundering (12%), falsification of balance sheets (11%), espionage (10%) and crimes against intellectual capital (10%). In 42% of all cases, the offender is an internally employed or known person. On average, damages caused by business crimes amount to € 1.9m.

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