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Analysis suggests that organisations of all shapes and sizes and in all sectors are vulnerable to attacks. Clearly fraudsters are not going to stop looking for new and evolving ways to scam institutions and their customers. Fraud is, quite rightly, viewed by many organisations as one of the biggest threats they face. The private sector has been under the biggest attack from fraudsters, with both SMEs and large enterprises losing an estimated total of £144 billion a year.
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The UK retail industry suffers from both the reputational and financial impacts of crime levelled against it, which in financial terms cost £660m in 2015-16. This year’s survey highlights the growing problem of fraud and cyber-crime, which in light of the acute threats facing retail companies now represent major security priorities for the BRC. Some striking variances can be observed since last year, with cyber-attacks and violence rising as highest priority issues; 50% of respondents cited cyber-attacks as one of the most significant future threats. The data supports the well-versed mantra that the UK’s business crime landscape is evolving rapidly.
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