FT.com / Technology - Data theft overtakes physical losses

Signs of the times

Reported thefts of information and electronic data have risen by half in the past year and for the first time have surpassed physical property losses as the biggest crime problem for global companies, the Kroll annual global fraud survey has found.

More than 27 per cent of 801 companies surveyed reported data losses, up from 18 per cent last year, while the share of companies reporting physical theft fell slightly from 28 per cent in 2009.

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The Kroll results dovetail with evidence that organised gangs have taken in droves to the internet, which makes cross-border crime much easier. The new underground has a highly evolved capitalist system, offering pilfered identities and other data for bulk sales, along with computer intrusion programs guaranteed by their sellers to evade detection.

FT.com / Technology - Data theft overtakes physical losses