Global recovery rate,
Definition of Global recovery rate:
Global Recovery Rate (GRR) can refer to businesses recovering fraud-related losses or to lending facilities that are recoverable, given a borrower's default. In the first sense, the term is used in the anti-fraud field referring to the proportion of businesses recovering more than 60% of their fraud-related losses. In the second sense, the term refers to the proportion of a borrower's lending facilities that are recoverable if that borrower defaults.
The number of businesses that have been able to recover at least 60 percent of financial losses suffered as a result of corporate fraud. This is a global measurement. Ways to help increase the probability of recovering these losses include purchasing economic crime insurance and early detection of fraudulent activities.
According to PricewaterhouseCoopers' 2018 Global Economic Crime Survey, 49% of firms experienced some form of economic crime over the previous two years. Early detection of fraudulent activities and acquiring economic crime insurance are two of the best methods of increasing the likelihood of recovering stolen assets.
Meaning of Global recovery rate & Global recovery rate Definition