The financial industry is at the greatest risk of experiencing fraud in India, according to KPMG International's India Fraud Survey. The survey found that the financial sector faces a 23% risk of fraud, while the non-banking finance sector had a risk of 17%. In contrast, the telecommunications and software sector have a 10% risk rate. Nearly 20% of respondents blame employees for the high risk threat.
 
"Lack of ethical value among employees is the main reason, and the organizations have to move towards creating a more ethical work place," KPMG executive director D. Sanwalka told IndoAsian News Service.