Do You Need To Care About Fraud At Wipro?

I don’t know why, but a financial wrongdoing at an offshore vendor makes big news in the Western world. We saw that happen in instances such as the theft at HSBC’s captive center in Bangalore and the stealing of Citibank’s client account information at Citi’s supplier Mphasis (now part of HP/EDS). The recently reported financial fraud of $4 million at Wipro is the next one that’s making rounds. Frankly, I was surprised when many IT services buyers asked Forrester about this incident and its impact. Here is a snapshot of the story:

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