Report finds more businesses feel vulnerable to fraud

Author
Newstalk ZB,
Publish Date
Mon, 29 Jun 2020, 9:52AM
(Photo / Getty)

Report finds more businesses feel vulnerable to fraud

Author
Newstalk ZB,
Publish Date
Mon, 29 Jun 2020, 9:52AM

More and more businesses are feeling vulnerable to scams and fraud.

A KPMG Australian report has found more than 80 per cent of senior executives think their business is vulnerable.

In New Zealand, $10.8 million has been allocated for the Serious Fraud Office to tackle serious financial crime and corruption over the next four years.

Gorilla Technology chief executive Paul Spain told Mike Hosking there's a big uptick at the moment.

"That's impacted by staff being displaced, people being so focused on other things, that attention isn't being given to monitoring fraud."

He says many public entities have been coming under attack recently.

"Part of the reason for that is the huge increase in the amount of money that they are actually demanding in those cyber fraud situations, which in some cases are 10 times more than what they would have been even 18 months ago."

Read more about Paul Spain here