Corporate India is relying heavily on ethics and code of conduct to help curb rising economic crime in the country.
Tangible preventive and corrective measures such as risk management systems are seen as secondary.
This explains why less than seven per cent of economic crimes in the country have been detected by risk management systems as compared to 17 per cent in the Asian-Pacific countries, and 26 per cent across the globe.
PricewaterhouseCoopers (PwC) in its Economic Crime Survey pointed to this worrying factor, which
