Kroll Annual Global Fraud Report

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One of the ways to increase market share is to build a mousetrap and it increasingly appears that one of the fastest ways to increase market share is to pilfer a company’s plans for a better mousetrap. As reported in the October 18, 2010 online edition of the Kansas City Star, according to the latest edition of the Kroll Annual Global Fraud Report, theft of information and electronic data at global companies has overtaken physical theft of property and goods for the first time. As noted by Kroll, “If fraud were a virus, almost everyone would be slightly ill” with its finding that of the respondents, 88% reported that they had been hit by at least one type of fraud in the past year, a figure broadly similar in every region and consistent with those of previous years. However we were struck by the finding that soft theft has overtaken hard theft as a key concern for companies in the area of fraud.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Thomas Fox, Advanced Compliance Solutions | Attorney Advertising

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