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New 'Global Economic Crime Survey' shows decline in bribery and money laundering

Pricewaterhouse Coopers' 6th Global Economic Crime Survey reports the alarming emergence of cybercrime while bribery and money laundering look to be on the decline.

Samuel Rubenfeld of the Wall Street Journal reports,

Reported incidences of bribery and money laundering declined slightly over the past two years, according to a new survey by Pricewaterhouse Coopers.

Out of about 4,000 responses spread across 78 countries, 24% of respondents said they experienced bribery and corruption at their organization in the past 12 months, down slightly from the 27% who said as much in 2009, the last time the survey was completed. Experiences of money laundering were also down slightly to 9% from 12% two years ago, the survey said.

The survey, Pricewaterhouse's sixth of this kind, looks broadly at all economic crime, and it found "asset misappropriation" to be by far the largest crime faced by respondents, with 72% saying they dealt with it in the past 12 months. The largest growth in economic crime was related to cybercrime, which jumped from a statistically negligible level in 2009 to garnering 40% of responses in the latest report.

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Rafael Mangual
Project Manager,
Legal Policy

Manhattan Institute


Published by the Manhattan Institute

The Manhattan Insitute's Center for Legal Policy.