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72% of Banks Say Their Employees Committed Fraud

Posted by kdawson on from the by-the-wheelbarrow-full dept.

yahoi writes "The financial crisis appears to be exacerbating fraud by bank employees: a new survey found that 72 percent of financial institutions say that in the last 12 months they have experienced a case of data theft by one of their workers. Meanwhile, most banks don't want to talk about the insider threat problem and remain in denial, says a former Wachovia Bank executive who handled insider fraud incidents at the bank and has co-authored a new book called Insidious — How Trusted Employees Steal Millions and Why It's So Hard for Banks to Stop Them that investigates several real-world insider fraud cases at banks." The article dispels one assumption that might commonly be made about such insider fraud: "Interestingly, it's not the stereotypical offshore or outsourced employee who's most risky to their organizations. Nearly 70 percent of financial institutions say their full-time employees are most likely to pose an insider fraud threat..." Technology workers placed third in the roster of the job categories most abused.

7 of 272 comments (clear)

  1. Seems low by Anonymous Coward · · Score: 5, Funny

    Is that not counting executives?

    1. Re:Seems low by Anonymous Coward · · Score: 1, Funny

      Dr. Zoidberg: Once again, the conservative, sandwich-heavy portfolio pays off for the hungry investor.

    2. Re:Seems low by Chrisq · · Score: 4, Funny

      If shit gets that bad, I hope you're investing in bacon and not gold.

      I'm Jewish you insensitive clod.

    3. Re:Seems low by Chrisq · · Score: 3, Funny

      Or went red in the face and said "no I'm sure that absolutely nobody here would ever commit fraud", as they try to cover up their vintage Rolex with the sleeve of their hand-made Savile Row suite.

  2. Stapler by Wolvenhaven · · Score: 5, Funny

    Has anyone seen my red stapler?

    --
    Orwell was an optimist.
    1. Re:Stapler by schmaustech · · Score: 1, Funny

      ...because they've moved my desk four times already this year, and I used to be over by the window, and I could see the squirrels, and they were married, but then, they switched from the Swingline to the Boston stapler, but I kept my Swingline stapler because it didn't bind up as much, and I kept the staples for the Swingline stapler and it's not okay because if they take my stapler then I'll set the building on fire...

  3. be positive ! by Atreide · · Score: 2, Funny

    "72% of Banks Say Their Employees Committed Fraud"

    is much better than

    "Banks Say 72% of Their Employees Committed Fraud"

    --
    The world belongs to those who get up early. - I'm far from being the king of Earth then :-(