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Article: Legal Conference Focuses on Insurance Coverage for Employee Crime, Computer Fraud.
- Article from:
- PR Newswire
- Article date:
- November 2, 2009
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NEW YORK, Nov. 2 /PRNewswire/ -- The money companies lose each year from employee crime and computer fraud is measured in the tens and hundreds of billions nationally, depending on what crimes are included.
The Association of Certified Fraud Examiners says the average company loses 5 percent of its annual revenues to fraud and abuse. The total impact on U.S. businesses is said to exceed $400 billion. The plot thickens as more business is transacted online. According to white paper produced by Aon Corp., "The total number of data breach victims in 2006 exceeded the 100 million mark," or "one record for roughly every three Americans." As with many risks, one of ...