Public sector organisations are experiencing increasing levels of economic crime, including cybercrime, and are particularly at risk from being defrauded by their own employees and their suppliers, according to findings from PwC’s latest Global Economic Crime Survey.
Cybercrime, in previous surveys statistically insignificant, has emerged as a growing threat suffered by 14% of public sector respondents. The survey shows that the public sector is aware of the rising threat, with 28% of respondents thinking that they are likely to suffer a cybercrime attack in the next 12 months and over 40% of respondents saying they perceive the risk of cybercrime to be on the rise.
Based on the views of over 180 respondents from public sector organisations in 36 countries, the report says it is not surprising that fraud against the public purse is on the increase, given the onset of public sector cuts in many countries.
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