Fraud, cyber, and security incidents are now the ”new normal” for companies across the world, according to the executives surveyed for the 2016/17 Kroll Annual Global Fraud and Risk Report.
The proportion of executives that reported their companies fell victim to fraud in the past year rose significantly to 82 percent, from 75 percent in 2015 and 70 percent in 2013, highlighting the escalating threat to corporate reputation and regulatory compliance.
Cyber incidents were even more commonplace, with 85 percent of executives surveyed saying their company has suffered a cyber incident over the past 12 months. Over two-thirds (68 percent) reported the occurrence of at least one security incident over the course of the year.
The threat from within
Despite widespread concerns about external attacks, the findings reveal that the most common perpetrators of fraud, cyber, and security incidents over the past 12 months were current and former employees.