Sharp surge in frauds post-pandemic; Grant Thornton Bharat report

As the Covid-19 pandemic changed the way organisations function, it also exposed them to financial fraud. Shift from onsite to remote work, lack of internal controls, and inadequate fraud awareness have resulted in a surge in fraud, according to a Grant Thornton Bharat report.

“About 71 per cent of organisations have reported business email compromise, 65 per cent experienced social engineering attacks, and 54 p.er cent faced identity theft,” Grant Thornton Bharat’s latest ‘Financial & Cyber Fraud Survey said.