FORENSIC & LITIGATION

Fraud is decreasing, its cost is increasing

Our last study (2018) on corporate fraud revealed that only a few companies are aware of the fraud risk to which they are exposed. The general press only covers the subject in the event of significant fraud cases involving well-known multinationals or public authorities, while specialist magazines or specific studies basically only cover the issue at global or continental level. What about Belgian companies? How are they confronted with this topic? The objective of our study is to lift the veil on this threat in the Belgian market.

21

% of companies state that they have been the victim of at least one instance of fraud during the past 5 years

56

% OF FRAUD ATTEMPTS INITIATED BY AN EMPLOYEE RESULT IN A LOSS FOR THE COMPANY

200000

€ THE AVERAGE LOSS SUFFERED BY COMPANIES DUE TO FRAUD

45

% OF INSTANCES OF FRAUD ARE COMMITTED BY STAFF MEMBERS OF THE COMPANY IN THE BROADEST SENSE

REPORT

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About the survey

BDO collected the answers of nearly 200 companies active in Belgium, with a turnover ranging from 5 million euro to more than 500 million euro. The study was performed by an external agency, commissioned by BDO, in May 2019.

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 PREVENTION
  • Assessment of fraud risks
  • Support and implementation of internal controls
  • Policies and guidelines
  • Code of conduct
  • Access management and segregation of duties
  • Fraud intervention plan
  • Fraud risk training
  • Implementation and monitoring of a whistleblowing procedure
FRAUD DETECTION AND INVESTIGATION
  • Process mining
  • Background search
  • Asset tracing
  • Proactive data analysis
  • Conflicts of interest
LITIGATION
  • Quantum of loss assessment
  • Technical support
  • Arbitration
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Cédric Antonelli

Partner
Forensic & Litigation Support

  • cedric.antonelli@bdo.be
  • +32 474 30 03 96
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Wim Verbelen

Senior Manager
Forensic & Litigation Support

  • wim.verbelen@bdo.be
  • +32 486 28 87 07