72% of Banks Say Their Employees Committed Fraud!


King of de Jungle
Mar 17, 2005

"The financial crisis appears to be exacerbating fraud by bank employees: a new survey found that 72 percent of financial institutions say that in the last 12 months they have experienced a case of data theft by one of their workers. Meanwhile, most banks don't want to talk about the insider threat problem and remain in denial, says a former Wachovia Bank executive who handled insider fraud incidents at the bank and has co-authored a new book called Insidious — How Trusted Employees Steal Millions and Why It's So Hard for Banks to Stop Them that investigates several real-world insider fraud cases at banks."
The article dispels one assumption that might commonly be made about such insider fraud: "Interestingly, it's not the stereotypical offshore or outsourced employee who's most risky to their organizations. Nearly 70 percent of financial institutions say their full-time employees are most likely to pose an insider fraud threat..." Technology workers placed third in the roster of the job categories most abused.

Original Source... http://www.darkreading.com/insiderthreat/security/government/showArticle.jhtml?articleID=220301087

The figure must be around 144% in South Africa!!! :rolleyes:


Well-Known Member
Mar 27, 2006
That's quite ridiculous, I'm sure the other 28% of banks just didn't admit that they'd had such cases... And I'd like to see any of our South African banks say they've not had similar cases...