FORENSIC & LITIGATION

1 in 5 companies have experienced fraud this past year

Corporate fraud has never been more actual. However, it is rarely covered in the media, most likely for reasons of confidentiality. Based on an analysis of articles published in newspapers and magazines concerning fraud committed within companies, we only identified 29 cases of fraud in 2017 and 34 in 2016 for the whole of Belgium. As we were convinced this did not reflect reality at all, we surveyed Belgian companies in order to assess the impact of fraud. While international surveys do exist, none of them provide sufficient details to place the Belgian situation within the greater global context.

77

% OF THE COMPANIES HAVE EXPERIENCED ATTEMPTED FRAUD WITHIN THE LAST 5 YEARS

22

% OF THE COMPANIES HAVE BEEN SUBJECT TO FRAUD WITHIN THE LAST 12 MONTHS

150000

€ THE AVERAGE LOSS SUFFERED BY COMPANIES DUE TO FRAUD

37

% OF FRAUD WAS COMMITTED BY THE COMPANY’S EMPLOYEES

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About the survey

BDO collected the answers of 245 companies active in Belgium, in 33 different sectors. All companies have a turnover from 5 Mio euro to more than 500 Mio euro. The study was executed by an external agency, commissioned by BDO, in May 2018.

CONTACT PERSONS

Do you have any questions? Then please do not hesitate to contact us.

The experts of our Forensic & Litigation Support team continually hone their practical skills with specialised training courses – a question of always remaining ahead of potential defrauders – and learn a little more with every new case. They can currently rely on a wide range of tools and techniques that can be deployed to detect issues and for in-depth investigations, such as:

Fraud Investigation
  • Investigation of accounting and financial irregularities
  • Asset Tracing
  • Assessing the loss
  • Investigation of corruption and misappropriation of assets
  • Integrity due diligence
  • Background search
Fraud Detection & Prevention
  • Fraud risk assessment
  • Assistance with developing recommendations - AS IS / TO BE situation
  • Detection of organisational or IT security breaches
Litigation Support
  • Technical consulting within the context of criminal litigation
  • Assessing operating loss
  • loss of opportunity and lost earnings
  • Unilateral termination of a franchise or agency agreement
  • Assistance with arbitration
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Cédric Antonelli

Partner
Forensic & Litigation Support

  • cedric.antonelli@bdo.be
  • +32 474 30 03 96
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Stephane Goddé

Senior Manager
Forensic & Litigation Support

  • stephane.godde@bdo.be
  • +32 498 93 96 02