Many times, the threats that companies face on an ongoing basis do not come from outside their operations. In fact, insider threats are becoming an increasingly pressing matter in many industries, and checks to herself and withdrew cash from the organization’s accounts at a local ATM.
Inc. Magazine explained that in one study by PricewaterhouseCoopers, it was discovered that insider threats are becoming a more frequent source of crimes against businesses. The report found that in 2009, 76 percent of these incidents were carried out by individuals internally, while before 2009, the firm’s research had shown outsiders were more often behind crimes.
Additionally, the source noted that data from the Association of Certified Fraud Examiners (ACFE) estimated that companies lose as much as 5 percent of their annual revenue due to embezzlement by employees or officials in their organization. In a very real sense, enterprises cannot afford to forego auditing.