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Cases of fraud committed inside an organisation by its employees rose by 18% in 2013 compared with 2012, according to the latest report from CIFAS – the UK's Fraud Prevention Service.
The 18% increase in insider fraud was driven by numerous factors including:
“While insider fraud may not be as prevalent as many other frauds (such as identity fraud), its effects are just as detrimental,” commented CIFAS Communications Manager, Richard Hurley. “Fraud inside an organisation affects customers, the employer and colleagues and is many times more damaging than the sum initially lost to the fraud or stolen.”
“This report shines a light not only on the frauds that took place but also the likely causes and motivations,” he added. “As a result, it challenges organisations to see cases of internal fraud not as something to be swept under a carpet but an issue that requires them to take ownership: from improving procedures to examining their culture to counter anything that might provide impetus to those who are susceptible.”
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