PwC: Global companies report USD 42 bln. in losses due to cyber fraud in the last 2 years

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The value of losses reported by global companies due to cyber fraud amounts to USD 42 billion in the last two years, and one in five respondents mentioned that fraud by suppliers had the greatest impact, according to the biannual study PwC “Global Economic Crime and Fraud Survey” (GECS) 2020, published on Monday.

The main types of economic crimes reported in the analyzed period were customer fraud (35%), cybercrime (34%), theft of goods and money (31%), respectively bribery and corruption (30%). In this regard, the results of the research show that fraud committed by customers increased the most, by six percentage points, from 29% two years ago.

Also, almost half of the affected companies (47%) recorded the second highest rate in the last 20 years. In total, the value of the losses reported by the companies surveyed due to fraud reached 42 billion USD, according to Agerpres.

Globally, all regions have experienced customer fraud in the last two years, the worst affected being the Middle East, which rose from 36% to 47%, and North America, where the advance was from 32% to 41%.

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