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.
% of companies state that they have been the victim of at least one instance of fraud during the past 5 years
% OF FRAUD ATTEMPTS INITIATED BY AN EMPLOYEE RESULT IN A LOSS FOR THE COMPANY
€ THE AVERAGE LOSS SUFFERED BY COMPANIES DUE TO FRAUD
% OF INSTANCES OF FRAUD ARE COMMITTED BY STAFF MEMBERS OF THE COMPANY IN THE BROADEST SENSE
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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.
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:
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