Economic crime is up in the Canadian marketplace

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  • March 24, 2016

According to the newly-released Global Economic Crime Survey 2016, 37% of Canadian companies were hit by economic crime in the past 24 months and 28% of the fraud experienced came through online sources. That means that one in every three businesses is likely to be a victim of cybercrime. Cybercrime will remain a huge problem area for businesses in all industries over the next five years and is a source of significant losses: 31% of Canadian organizations reported losses between $1,000 and $50,000 and 16% reported losses between $50,000 and $5 million. Another telling result is that 59% of respondents believe the threat of cybercrime is growing.

Despite the fact that cybercrime is an obvious and increasing threat to businesses,  the same survey reports that 26% of Canadian businesses have not conducted any fraud risk assessment in the last 24 months. Unfortunately, this passive approach leads to trouble, especially considering that cybercriminals’ practices are ever-evolving. An identification and analysis of what could go wrong are the key components of risk assessment in an IT audit. Don’t miss security threats within your organization; taking a proactive approach to cybercrime will ensure that you are protected from the worst case scenario.

Call us today and one of our IT Specialists will visit your office, learn about your needs and propose a comprehensive solution for improving your IT security.

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