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For the First Time, Companies Losing More to Electronic Theft than Physical Theft

By Lependorf & Silverstein

A surprising survey of senior executives worldwide showed that companies are losing more through electronic data theft than through a physical stealing of assets for the first time, Reuters reports. The survey showed that the amount lost by businesses due to fraud rose from $1.4 billion worldwide to $1.7 billion this past year. However, this increase could be due in part to better detection and awareness of fraud. Fraud is most often perpetrated by the companies? employees, whether it is electronic theft or physical theft. The most likely employees to be involved in fraud are senior management and junior employees. Among emerging markets, China has the highest level of fraud, with 98 percent of businesses affected by fraud. Colombia has 94 percent of businesses affected and 90 percent of Brazil?s businesses are affected by fraud...continue to full post

Full post as published by New Jersey Criminal Defense Blog on October 25, 2010 (boomark / email).