Cases rise in past two years for most firms
Business theft and fraud have risen markedly in the past two years, according to a survey by ABM Software.
The ABM Investigation Survey, which surveyed 72 large organisations in sectors including consumer products and retail, found a rise of 52 per cent in theft and 49 per cent in fraud over the past two years.
Sixteen per cent said they increased spending on security, but 29 per cent said it was cut heavily.
Twenty-two per cent of companies said security incidents had cost them between £100,000 and £999,999 annually. Forty-two per cent of respondents reported an increase in the number of incidents between 2008 and 2009, while 29 per cent said the cost of incidents had fallen.
Only 7 per cent reported fewer than 100 incidents in 12 months, while 44 per cent put the figure at between 100 and 499.
In terms of investigation, 63 per cent of organisations probe all cases of loss, regardless of their value or type.
Of the remainder, 47 per cent cite the cost of the loss for not investigating all incidents, while 46 per cent point to the potential damage to their brand.