Professional Security Magazine Online: Fraud findings

February 22, 2018 — Fraud findings

Robert Capps, VP at NuData, comments on a report issued yesterday by Professional Security Magazine disclosing that according to auditors PwC in their 2018 Global Economic Crime Survey (GECS). Survey respondents’ experiences show a shift towards technology-enabled crime, bribery and procurement fraud, according to the audit firm. This is despite the overall level of UK businesses experiencing fraud falling from 55 per cent in 2016 to 50pc in 2018. The firm points to the need for organisations to take new approaches to tackling fraud.

Emboldened cybercriminals are becoming more technology savvy and are increasingly posing as banks or suppliers and then duping customers into revealing their personal details. These scams have also proved effective in targeting commercial organisations, as senior executives have been tricked into revealing sensitive information which enables access to a company network.

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