The KPMG Fraud Barometer revealed that there were 153 fraud cases in 2003 compared with 83 in 2002.
David Alexander, fraud investigation partner at KPMG Forensic, said: ‘The barometer shows that more frauds than ever are being committed.ÿ Companies are being attacked both internally and externally.ÿ
‘Almost 80% of frauds (by value) are committed by either organised crime or by the company’s management.ÿ
‘Many businesses do not have adequate fraud risk strategies, whistleblowing policies or internal processes to combat this threat.ÿ This is leaving them vulnerable to attack, and the fraud barometer figures clearly show that there are many people out there who will attempt to take advantage.’
Barclays has partnered with accounting software company Xero to provide businesses with access to transaction data through its direct feed.
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Xero unveiled its expanded global partner programme at Xerocon South, the accounting technology conference in Australasia
Accountancy software firm Sage has been hit by a data breach which may have compromised the personal details and bank account details of as many as 300 UK businesses