Fraud against businesses major issue in Latin America

Buenos Aires, Argentina. – Oil companies, mining and agribusiness in Latin America were the most exposed to fraud in the past year, victims of managerial disloyalty, theft of physical assets and false suppliers, said Wednesday consultancy Kroll risks. Fraud against companies in the region is the second largest in the world after Asia, according to a joint study that surveyed 800 executives from around the world and will be officially launched in October. “We’re seeing a lot of problems in oil and mining companies, with much fraud, and false suppliers,” said Andres Otero, director of Kroll. “Another major concern, especially in Brazil, Colombia and Argentina, is the agricultural industry, with issues ranging from the theft of land, until problems with workers,” he added.
The survey found that worldwide information theft is a major concern, while in Latin America the theft of physical assets continues to occupy the highest percentage of fraud. Read Article