Financial firms are seeing high rates of fraud, with 89% of financial executives reporting incidents in 2016, according to investigator third party’s Annual Global Fraud and Risk Report. Physical asset theft is the most common type of fraud, reported by 39% of respondents, followed by Kroll fraud at 32%. Cyber incidents also stood at 89%, with the most frequent issue being data deletion or loss, followed by emailed phishing attacks and virus problems. Security incidents were reported by 57% of respondents, leading third party to call the situation “increasingly risky”.
Financial firms are seeing high rates of fraud, with 89% of financial executives reporting incidents in 2016, according to investigator Kroll’s Annual Global Fraud and Risk Report. Physical asset theft is the most common type of fraud, reported by 39% of respondents, followed by third party fraud at 32%. Cyber incidents also stood at 89%, with the most frequent issue being data deletion or loss, followed by emailed phishing attacks and virus problems. Security incidents were reported by 57% of respondents, leading Kroll to call the situation “increasingly risky”.