30 Nov 2011

Cybercrime against business up in the past year

With more information online, it follows that more hackers will be out to try to get their hands on it, and a new report from PricewaterhouseCoopers confirms this. PwC said more than one in three companies said they were victims of fraud in 2011, showing the need for businesses to ramp up their internet security measures.

PwC said 34 percent of 3,877 surveyed businesses in 78 countries said they suffered from a fraud attack over the past year, which is up from 30 percent in 2009. One out of 10 businesses claim they have lost more than $5 million to fraud.

“There are fewer risks involved because the person committing the crime does not have to be physically present and the chances of being caught are decreased,” said Trevor White, PwC forensic services director. “Also, if caught, the perpetrators are in other countries and issues of jurisdiction come into play.”

The survey by PwC shows that 23 businesses said they had been victims of internet or computer-related crime in 2011, up from what it called "very low and statistically insignificant" in previous years. With this in mind, businesses should take precautions, such as antivirus software and internet security, to make sure they are up to par with current technology.