Thirty-seven percent of more than 5,000 respondents reported economic crime in their organizations, with the categories of bribery and corruption and cybercrime experiencing notable growth, according to PwC in its latest Global Economic Crime Survey.
Organizations around the world lose an estimated 5 percent of their annual revenues to occupational fraud, according to a survey of certified fraud examiners who investigated cases between January 2012 and December 2013. Applied to the estimated 2013 gross world product, this figure translates to a potential total fraud loss of more than $3.5tr.
Several industrial linen companies in the United Kingdom and France are testing a new RFID tag that is literally woven into a textile or fabric product, which could hamper counterfeiters and thieves.