The chartered accountants estimated that UK fraud losses add up to £32bn over the year, with another £8bn a year spent on prevention measures.
The survey of 24 FTSE 100 companies and seven of the largest private companies found that 59% of respondents expected economic crime to increase during the next three years.
Larger companies face the biggest risk of fraud, with some reporting losses equal to 5% of turnover, The Times reported.
The average cost of fraud increased 35.4% to £3.9m in 2016, compared to 2015 data
Harrison Beale & Owen will (HB&O) have a new chairman and managing director at the helm for 2017
Satvir Bungar promoted to managing director in the mergers and acquisitions team
Carolyn Brown appointed as the first head of client legal services practice RSM Legal