According to the survey conducted by KPMG with the support of SMU, more than a quarter of corporate executives in Singapore have witnessed at least one fraud incident within their organisation over the past two years. The survey was conducted in the last quarter of 2013, with questionnaires sent to top companies incorporated in Singapore and those listed on the Singapore Exchange. In terms of managing third-party risks, 91 per cent of respondents said that they were concerned about the conduct of external parties but only 41 per cent communicated their fraud and ethic policies to third-parties, the survey stated.