BusinessCompany NewsPoor strategy puts FTSE 100 companies at risk from fraud

Poor strategy puts FTSE 100 companies at risk from fraud

Systematic weaknesses to blame for exposing 55% of capital to fraud

The UK’s top PLCs are exposing themselves to the risk of fraud due to poor
counter-measures, according to a new report.

New research by accounting firm
MacIntyre Hudson
and the
Centre
for Counter Fraud Studies
at Portsmouth University found that of the 32 FTSE
100 companies surveyed, 55% of the capital could be at risk from fraud due to
systematic weaknesses.

It also found that while 56% of those asked did have a counter-fraud
strategy, more than half had no measures in place to review the effectiveness of
such a strategy, reported the Telegraph.

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