MANILA - Economic crimes against companies in the Philippines more than doubled over 2 years, and is higher than the global average, according to a PwC study.

Fifty-four percent of companies polled for PwC's 2018 Global Economic Crime and Fraud Survey said they suffered economic crimes, compared to 20 percent in 2016. The global average is 49 percent.

The study defined economic crime as the "intentional use of deceit or other criminal conduct to deprive another money, property or a legal right to effectuate an economic farm."

Asset misappropriation is the most common, experienced by 53 percent of respondents, followed by business misconduct, procurement fraud, accounting fraud, bribery and corruption, the study said.

Consumer fraud was the most disruptive type of economic crime, according to PwC.

Two in 3 incidents of fraud were committed by those within the company, mostly middle and top management, the report said.

Over a third of respondents said they were victims of cybercrime, with phishing as the most prevalent.