Dear All I am sharing with you all Indian Fraud Survey 2010, by KPMG and PWC Hope this gives us all the required insight in to corporate world Regards Octavious
From India, Mumbai

Attached Files
File Type: pdf KPMG_Fraud_Survey_2010[2].pdf (1.15 MB, 1754 views)
File Type: pdf pwc.pdf (881.2 KB, 962 views)

Thanks Octavious for sharing information compiled by KPMG and Price WaterHouse Coopers. Of course for learning point of view these reports can be considered useful, but what about those frauds in which these companies were also named to have been actively associated as auditors? Links of a few documents concerning their own seeming involvement are also attached for general awareness for the readers. Does this mean a person, auditor, or corporate house can preach better than practicing by self?

KPMG's tax shelter and kickback scam - Dep Chairman Jeffrey Stein and 7 execs indicted - Newsday - 30Aug2005

New Century Bankruptcy Examiner Says KPMG Aided Fraud (Update4) - <link updated to site home> ( Search On Cite | Search On Google )

Asia Times Online :: South Asia news, business and economy from India and Pakistan

PwC Settles Tyco Investors' Suit Over Fraud -

From India, Delhi
Dear Psdhingra
Over the years I have understood one thing that companies and government equally thrive on black money, and at some point in time they all are involved in money laundry in huge ways.
As per a write up, Black money fuels about 20percent of Indian GDP.
Now think,why there is so much of corruption.

From India, Mumbai
No one can stop intellectual property sharing in this massive networking age.That we will do at any cost to help others.Property right 'Kalli valli'.
From United States, Milpitas
Nice analysis. The PwC one is much crisper. The concept of fraud triangle in that report is very true. The fraud triangle with Pressure/incentive; Opportunity and Rationalization is quite factual. Most of the frauds are committed under pressure from the family with their active abetting. If the wife is not greedy the husband won't be corrupt.
From India, Madras
Dear Octavious,
I fully agree with your views. But, my intention to point out was whether these audit companies, which themselves had the track record of involvement in frauds, can give any real and valuable advice in the name of prevention of frauds? I hope you will agree with me that any survey by such type of companies, which had also a track record of their own involvements of frauds, cannot be devoid of any bias in their findings through such surveys. I consider such type of stints just the act of eyewash just to provide a cover up to their own positions or to dilute their own sins in the affairs of corporate governance. If they can pay billions of dollars in the shape of fines through court judgments, one can imagine how much and by what mode they would have stripped the corporates with money.
You may perhaps further agree that frauds/money laundering in companies cannot be possible much unless their is a clear connivance of the auditors.
PS Dhingra

From India, Delhi
Nice analysis! But about your saying "If the wife is not greedy the husband won't be corrupt" I can say it can be both ways. Husband can be corrupt by instinct, while wife may not be demanding or greedy. It all depends upon the nature of a person resorting to corruption. If husband is not corrupt by nature, whatever greedy the wife be, he won't indulge or would be afraid of being involved in to making corruption.

From India, Delhi
Greetings all,

Well.. the issues are much greater now. There is a growing concern with respect to the document fraud in the immigration process and unfortunately the perception of Indian talent is greatly affected.

I wish to share a document by the Economic Intelligence Unit, published in the year 2007, titled -

'Paper Chase - Document fraud in the immigration process'

Alarmingly, document fraud is directly linked to crime at a higher level including human trafficking especially in the cross border movement of people.

I have also included our organisations Strategic Initiative to curb document fraud, and has been actively seeking to generate awareness to the need to curb document fraud and the related brokerage of Intellectual capital.


I'd invite your thoughts


Frauds to increase, feels India Inc - Times Of India

Want a job overseas? Beware of fraud - Get Ahead

From India, Mumbai

Attached Files
File Type: pdf EIU.pdf (1.36 MB, 25 views)
File Type: pdf 2010_NOSTOPS_Strategic_Partnership.pdf (559.3 KB, 22 views)


Dear Mr. Octavious
Thank you for sharing valuable article with our members.
In corporate level, the Top level management is always concerned about the performance and achievement of its employees. That's the reason the management is not willing to take severe action against erring employees involved in corruption and frauds. The Best performing employees are using the brain and making wealth (unduly) which is being tolerated by the management upto some extent. Whenever the level exceeds and the company or the specific project started incurring loss, the management takes stingent action against the defaulting employees even upto the extent of throwing them out from the organisation.
The above explanation will make Mr. Dhingra to understand why the organisations are still not taking any stringent action against the erring personnel in their organisation.
I really appreciate Mr. Octavious for initiating such a mind blowing and knowledge enhancing discussion on Frauds in India.

From India, Kumbakonam
Dear Mr. Bhaskar,

I differ with your views that "the best performing employees are using the brain and making wealth (unduly) which is being tolerated by the management upto some extent." The fact is totally on the reverse side. The best perforning employees never think about their involvement in frauds or corruption, as they don't find any time even to remotely think about that due to their full concentration on their performance only. Rather, you will find that the best performing employees are neither compensated adequately for their performance, nor they are made so close by their bosses to know about their secrets. It is only the wicked brain employees, who just think nothing except about making wealth by hook or crook and don't bother on their performance except to please or grease their bosses, or merely the touting employees who are never the best performers but think just on making wealth either due to their being very close to the top management, which closes eyes even on reporting against those employees, or some of the top bosses even use them to make corruption on their behalf also keeping themselves in disguise.

The reason behind organisations not taking any stringent action against the erring personnel in their organisation is not the best performing employees, BUT, the involvement of a few of the top bosses, themselves, in the corruption. No honest management spares even the best performing employee when the question comes to corruption and fraud on his part. I can bet that in the black money cases, you won't be able to find even a single account of any best performing employees in any Swiss bank or any other foreign country account. On the contrary, you would find the accounts of politicians, top bureaucrats or the business tycoons, who believe in giving and taking bribery. IT IS MERELY THE MISCONCEPTION OF YOUR MIND.

I wonder, what made you think about the best performing employees using their brains to make wealth (unduly)?

From India, Delhi

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