The travel, leisure and transport sector has seen a four-fold increase in fraud in the past year, according to a global survey of 700 senior executives.
The study, commissioned by risk consultancy Kroll, suggests companies in the sector have each lost an average US$10.2 million to fraud over the past three years, four times the figure of £2.5 million for the three years to 2008. Only the retail, wholesale and distribution sector suffered a comparable rise in fraud over the past year.
The Kroll Annual Fraud Report was carried out by the Economist Intelligence Unit, which found five of the ten industry sectors surveyed had experienced a spike in losses because of fraud since the banking crisis and recession of the past year - the others saw a decline.
Read the full story at: http://www.travolution.co.uk/articles/2009/10/20/2960/travel-hit-by-four-fold-rise-in-fraud.html