Thursday 27 July 2017

Fraud cases in Irish businesses rise with losses up to €3.75m

OVER a quarter of Irish firms were the victims of fraud in the last year, a new PricewaterhouseCoopers survey reveals.

PwC's latest Economic Crime Survey, published today, shows that cybercrime is now the second biggest risk facing Irish organisations.



Their research is based on the responses of 80 Irish companies and of those who experienced economic crime, 38pc reported losses of between €75,000 and €3.75m.



Losses in excess of €3.75m were suffered by 5pc of respondents while a further 52pc said the cost was below €75,000.



Over half of Irish respondents also said that they were more at risk now to cybercrime compared to a year ago.



Accounting fraud, money laundering and cybercrime are among the main economic offences.



Garda Commissioner Martin Callinan said the research showed the need for vigilance on the part of companies and individuals in their commercial dealings.



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