Three quarters (77 per cent) of technology, media and telecoms companies have suffered corporate fraud in the past three years, according to a survey.
Complex IT structures have increased exposure to corporate fraud, says the report from the Economist Intelligence Unit for risk consultants Kroll. Nearly two-thirds (35 per cent) of businesses within the sector have suffered in the past three years, with an average loss of $4.9m (£2.42m).
New technologies, new investors and expansion into new overseas markets have opened the door to different forms of fraud, said Jules Kroll, founder of the company.
"Dramatically new exposures such as identity theft, IT crimes and false reporting by asset managers were rarely seen 25 years ago," he said.
The areas of most common concern are intellectual property and information theft. More than one in five respondents consider themselves highly vulnerable in these areas.
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