British businesses are facing an increased threat of insider fraud.
British businesses are being urged to come to terms with the fact that the number of fraud cases carried out by their own employees is on the rise.
Secure document storage should now become a priority, after figures from the Credit Industry Fraud Avoidance System (CIFAS) showed the threat posed by insiders grew considerably in 2011. Indeed, there was a surge in such cases of 14.5 per cent compared with 2010.
Of particular concern will be the 41 per cent spike in the amount of cases in which staff members were dishonest in order to gain personally. These included thefts and deceptions.
While it may be tough to come to terms with the fact that some employees are out to con their own company, bosses who wish to guard against this must take action.
This can mean considering exactly where private information is stored. Both secure online platforms and offsite locations are designed to protect against the threat of fraud.
CIFAS staff fraud adviser Arjun Medhi stated: "The idea that our direct colleagues might be committing fraud is an uncomfortable one, so the fact that staff fraud levels have increased is therefore one that must concern all responsible employers.
"Acknowledging and combating the potential weaknesses that exist inside an organisation are vitally important as to do otherwise is tantamount to sticking your head in the sand."
Among the most common crimes committed by workers are deception and manipulation. The major incentive to see these acts through comes in the shape of personal benefits.
Clive Taylor, founding director of Sesai Consulting Limited, recently noted that another issue to consider when implementing data protection measures is the risk of allowing employees to work from remote locations.
This is often carried out on personal devices, leaving firms with little control over what data is accessed.