Reliable fraud data tailored to the Belgian context is surprisingly scarce.
While international studies are more common, they rarely reflect the specific challenges Belgian companies face.
That’s why BDO conducted an in-depth Fraud Survey in 2024, engaging 263 companies across sectors to gain clear, actionable insights into fraud risks in Belgium.
A costly and silent crisis
Fraud is everywhere – yet we rarely see it.
Despite its high occurrence rate, fraud often stays under the radar, with only the most sensational cases making headlines. But beneath the surface, the reality is far more alarming.. Our study revealed that 1 in 20 Belgian companies has paid a ransom to cyber criminals. And that’s just the tip of the iceberg.
The consequences of fraud are increasingly devastating. Since 2019, average financial losses have doubled, now reaching up to €400,000 per incident. But the damage doesn’t stop there, reputational harm can be just as crippling. Especially when the most damaging cases often originate from within the organisation.
Even though cyber crime receives the most attention, it turns out to be less effective than other, lesser-known types of fraud – the ones that slip through the cracks and cause long-term damage.
From hidden risk to informed action
This unique report highlights:
- which companies are most vulnerable;
- which types of fraud are most common (and least detected);
- and how Belgian businesses are evolving in terms of prevention detection and insurance.
Discover where your organisation stands – and gain clear insights into how to detect, prevent and respond to fraud more effectively.
Fill in the form below to receive BDO’s Fraud Report 2024.
Any questions?
Don’t hesitate to contact our expert:
| Cédric Antonelli Vennoot BDO | Financial Audit [email protected] |
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