28 Jun 2010

Data security 'should be stepped up for firms'

Companies need to be aware that times of economic difficulty often see an increase in the level of fraud within firms and this is therefore something they should be looking out for.

Neil Munroe, external affairs director for Equifax, said internal data security and scrutiny of staff activities should be second nature by now, as employees can be under greater stress during times of financial hardship, meaning they could be more likely to break the law.

He commented: "You need to step up your level of monitoring in these times, because the economic climate tends to increase the likelihood of these sorts of things happening."

According to a report by CIFAS - the UK's Fraud Prevention Service - there was a 45 per cent increase in staff fraud in 2009, compared with the previous year.

In addition, 2009 also saw a rise in theft offences, such as fraudulent withdrawals from customer accounts and theft of cash.