E-theft overtakes physical larceny

Michael Carroll
19 Oct 2010

Data theft has become the biggest crime hitting global business in the past year, overtaking physical larceny as rates soar by over 50%, a regular fraud survey reveals.

Some 27% of 801 companies surveyed in the annual Kroll study said they had experienced data theft in the past year, up 9% compared to the 2009 survey, while the number of physical thefts reported fell from 28% in 2009, FT.com reported.

Kroll found incidences of information and data theft were up 52% year-on-year, and that financial and professional services firms are most likely to be hit by such an attack.

Some 40% of services firms reported an attack in the past year, compared to 37% of technology and media firms the news site said.

Losses to fraud were highest in Asia-Pacific, with 92% of firms reporting fraudulent activity in the region compared to 88% in North America and 83% in the UK.

Kroll analyst Richard Plansky said IT was a double-edged sword, improving business efficiency but leaving enterprises open to attack. “Information systems are complicated and vulnerable to fraudsters,” he told the Times.

The survey also found that 10% of firms had been affected by piracy and counterfeiting in the past 12 months.

MORE ARTICLES ON: Asia Pacific, Cyber attack, Data theft, Fraud, Kroll, North America, Piracy, Security

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