Procurement Fraud and CorruptionSourcing from Asia |
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With the number of companies using suppliers based in Asia growing, instances of fraud and corruption in the procurement cycle are increasing. While the cost savings of doing business in Asia can be attractive, the financial risks can be bigger, and a company’s reputation and brands may be put at stake.
Instances of fraud and corruption in the procurement cycle are typically not easy to detect, prove or prosecute. What companies may not realize is that managing procurement fraud and corruption risks in Asia may require a distinctly different approach.
Edition 18 of ForThoughts outlines red flags to watch for and how fraud risks can be mitigated with a combination of company-level and risk-specific anti-fraud controls.
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Procurement fraud and corruption: Sourcing from Asia
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