Fraud rises despite recession's end

02/02/2010

Fraud has continued to grow in the UK despite recent news that the country has emerged from recession.

According to reports by PricewaterhouseCoopers (PwC), an increase in back-office cuts means that both businesses and public bodies will find themselves increasingly exposed to fraudsters.

Malware such as Conficker and Clampi was found to be increasingly used by hackers, with respondents in the public sector noticing a 46 per cent climb in the number of fraudulent incidents in the past year.

Jay Abbott, PwC director of vulnerability and threats, said: 'Up until now, the motivations for infecting personal and company computer networks appeared to be down to individuals doing it 'because they could'.

'But these new programmes are characterised by longer infection times and they develop a symbiotic relationship with the host, giving outsiders a permanent foothold within computer networks.'

The financial company also found that 47 per cent of the crimes were perpetrated by middle managers, who feared they could lose their jobs in the recession.