One-third of Indian businesses hit hard by internal, external fraud: Report
Posted On : Thursday, October 3, 2019, 10:51 AM
Nearly a third of Indian businesses experienced frauds by internal as well as external parties in the last 12 months, with data theft being the topmost fraud event, says a report. According to Kroll's annual global fraud and risk report, 33% of Indian companies suffered reputational damage due to third parties, while the global figure stood at 29 percent. The highest incidence of fraud was by way of data theft with nearly 41 percent of Indian firms affected by it in the last 12 months, compared to the global average of just 29 percent. As per the report, the main areas of concern for India going forward will be the growing risk from data theft (84 percent), reputational damage due to third-party relationships (81 percent) and adversarial social media activity (81 percent).