Wednesday, July 6, 2022
HomeTechnologyTech News{Many {companies are} losing {hundreds of thousands|thousands} to scams and fraud|Many {companies...

{Many {companies are} losing {hundreds of thousands|thousands} to scams and fraud|Many {companies are} losing {hundreds of thousands|thousands} to fraud and scams}

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{Companies} {in the united kingdom} are {dropping} victim to fraud (opens in {brand new} tab) {along with other} {types of} economic crime {more often} than the global {typical}.

{That is} according to {a fresh} PwC {statement|record|review|survey|document}, called the Global {Financial} Crime Survey. Polling 1,296 respondents {globally} ({which includes} 107 from {the united kingdom}), the consultancy firm {discovered that} 64% of {United kingdom} firms experienced {this} incident {within the last} {2 yrs}, up from 56% in 2020, {or more} from the global {typical} of 46%.

{Of all} fraud types, cybercrime {may be the} {most typical}, with a third (32%) {getting} fallen victim to a cyberattack. {Although this figure is down {because the} previous 2020 poll,|Although this figure is {because the} {earlier|prior} 2020 poll down,} suggesting {companies} are getting {much better} at defending themselves, {{specialists|professionals} {believe} that something entirely {various} {reaches} play here.|{specialists|professionals} {believe} that something different {reaches} play here entirely.}

Defending against fraud

“From what we {are usually} seeing {on the market}, I {think} {a few of the} trends {are usually} temporary, with, for example, instances of fraud and misconduct potentially {leftover|staying} undiscovered as traditional controls and corporate culture evolve {to help keep} pace with remote {operating|functioning},” said Fran Marwood, {Partner and {Mind} of Digital &|Head and {companion} of Digital &} Forensic Investigations.

{Quite simply|Put simply|Basically}, there weren’t fewer cybercrime incidents, {businesses {simply} aren’t as quick {to recognize} and {statement|record|review|survey|document} them as before.|{companies} aren’t as quick {to recognize} and report them {because|since} before just.} {{However, many} firms really did {shrink} on security,|{However, many} firms did {shrink} on security really,} she {additional}.

“Encouragingly, {in some full cases,} incidences of economic crimes have {decreased} {because of the} investment organizations {possess} {produced} in effective compliance programs, cyber defenses and fraud prevention controls.”

Supply chain fraud, which became super popular with the rise of the Covid-19 pandemic and remote {operating|functioning} , now accounts for almost a fifth (19%) of all fraud incidents. 

{In the united kingdom}, more than half (51%) of the attacks {had been} {dedicated} by external fraudsters, up from 43% on a global level. The top three external fraudsters {consist of} customers, hackers, and vendors/suppliers. 

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