Nov 20, 2009

Russia: The Capital of Fraud

Not to be outdone by Transparency's corruption perceptions index, PricewaterhouseCoopers has released it's own report on economic crime. Alas, Medvedev is epic fail as a crime fighter.

According to the study, Russia represents the world's most fraudulent economy. Worse yet, fraud and economic crime have actually increased 12 percentage since Medvedev set about his legal reform agenda two years ago. Russia is 30 percent above the global average and by far the worse country among all CEE or BRIC countries.

Says PWC: "Economic crime is and will remain a very serious risk ...The economic downturn is changing the nature and scale of the fraud and integrity risks that organizations face. The speed of change is such that opportunities to commit fraud will be prevalent."
Eventually, someone is going to have to govern this country. When that happens, millions for PR budgets and publicity stunts are not going to be enough.


Anonymous said...

It is certainly interesting for me to read that article. Thank you for it. I like such themes and everything connected to this matter. I definitely want to read more soon.

Pirates(and)Diplomats said...

Glad you liked it!

There will be more. That much is certain.

May said...

Thanks so much for this post, quite effective info.