New fraud report: Information theft is Asia’s biggest fear

September 30, 2008

A major survey of global executives has found that physical theft (41%) is the most common problem for companies in Asia, followed by information theft (31%) and regulatory or compliance breaches (28%).

Globally, the average company loss to fraud has increased by 22%, largely driven by the credit crunch and tough economic climate. Companies lost an average of $8.2 million to fraud in the past three years, compared to last year’s $7.6 million.

More than four out of five companies surveyed (85%) have suffered from corporate fraud in the past three years, up from 80% in last year’s survey. For larger companies the proportion suffering from fraud rose to 90%.

Source: NetworkWorld