INTHEBLACK September 2024 special edition - Flipbook - Page 10
E&C: SINGAPORE
SURGES AHEAD
SCAMMERS LACK
MORAL COMPASS
A 2024 report shows that 72 per cent of
organisations in Singapore have modified or
abandoned business initiatives due to ethics
and compliance (E&C) – 20 per cent higher
than both global and Asia Pacific averages.
The 2024 Ethics & Compliance Programme
Effectiveness Report, published by ethics
and compliance training company LRN, offers
insight into organisational ethical culture and
highlights the factors that make some E&C
programs more effective than others.
Organisations in Singapore also lead for
implementing incentives and disincentives
for ethical behaviour.
Data from the National Anti-Scam Centre
(NASC) indicates that scammers are becoming
more sophisticated and opportunistic.
NASC’s January to March 2024 quarterly
update is a snapshot of Australia’s current
scam landscape.
Text messages, email and phone calls
remained the top three methods favoured
by scammers.
FA C T S A N D F I GU R E S
Singapore
Global average
losses reported to Scamwatch
$173.2m
losses reported to ReportCyber
$99.2m
87%
79%
$73.2m
82%
79%
losses reported to Australian Financial Crimes
Exchange (AFCX)
73%
72%
67%
60%
107,251
scam reports made to Scamwatch, ReportCyber
and AFCX combined
$47.1m
investment scam losses reported to Scamwatch
5.5%
decrease in phishing scams for the quarter
Read the report
Management
performance
Hiring
Promotion
Read the report
10 INTHEBLACK September 2024 SPECIAL EDITION
Bonuses
