72% of Banks Say Their Employees Committed Fraud

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.

Comments

Seems low

[Anonymous Coward]

Is that not counting executives?

Re:Seems low

[Chrisq]

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

I'm Jewish you insensitive clod.

Re:Seems low

[Chrisq]

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.

Stapler

[Wolvenhaven]

Has anyone seen my red stapler?

be positive !

[Atreide]

"72% of Banks Say Their Employees Committed Fraud"

is much better than

"Banks Say 72% of Their Employees Committed Fraud"