In contrast, 44 percent of global respondents that experienced economic crime identified the main perpetrator as an external individual versus 53 percent internally.

Thirty-eight percent of Canadian companies that were victims of economic crime over the past 12 months said they detected the fraud by chance or internal or external tip-off. Additional frauds were detected by internal audit, while preventative fraud risk management activities contributed to 17 percent of frauds detected.

Globally, the industries that reported having suffered the most economic crime were communication, insurance, financial services, hospitality and leisure. These industries tend to be targeted by fraudsters because of their product or service. Additionally, organizations in these industry sectors tend to have more robust and proactive anti-fraud measures. In effect, they both suffer and detect more fraud than other sectors.