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Hungary ranks high in white collar crime

As much as 62% of national companies was subject to felony or other financial crime in the past two years, according to an international survey conducted by PricewaterhouseCoopers.

Number of unlucky companies rose drastically within this period (two and half fold), making Hungary rank above the CEE and global averages (50% and 42%, respectively). This is the fourth time PwC published its bi-annual research titled „Global financial crime”. This time over 5400 companies from 40 countries responded to the questionnaire.

Respondents were subject to 9 crimes on average in the past 2 years. Most common types of crime include theft / felony (48%), copyright violation (26%), and bribe (17%). Damages caused totals over Ft 4 billion. Up to 65% of the companies could not get anything back from the amount they had lost, and 73% of companies’ insurance does not cover these damages.

Ninety percent of white collar criminals are males, typically aged 31 to 50. Terms of punishment are relatively light compared to international standards: 75% of people convicted get less than 3 years prison. 30% of all cases are discovered accidentally or the culprit being turned in. (Gazdasági Rádió, Napi Gazdaság, Magyar Hírlap)