White Collar Crime in Canada

in Business Risk

36 percent of organizations in Canada reported in a survey that they were victims of white collar crime between 2012-2013. The percentage of companies reporting white collar crime was slightly up from the 32 percent rate in 2011, but was down from the 50 percent range in the mid-2000s.

The survey, conducted by PwC, found that the global average of organizations falling victim to white collar crime was 37 percent.

The most reported type of white collar crime was assets theft, which accounted for 58 percent of the reported crimes. Procurement fraud accounted for 33 percent of crimes, accounting fraud 22 percent, and cybercrime 22 percent. Nearly half of the organizations stated that cybercrime and cyber attacks were increasing.

15 percent of companies in Canada reported that they have been asked to pay a bribe. 14 percent reported that they have lost business due to refusing to pay bribes.

The global average of companies being asked to pay a bribe was 28 percent.

(Additional political corruption cases here.)

10 percent of the organizations in Canada reporting losing over $4.5 Million (5 Million Canadian) to white collar crimes during the year.

Source:  Barrie McKenna, “White-collar crime hits more than a third of Canadian organizations,” Globe and Mail, February 24, 2014.

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