Information fraud has now, for the first time ever, surpassed the theft of physical assets in companies across the globe, according to the risk management firm Kroll. The firm's fourth annual Global Fraud Report seems to confirm what many already suspected: Information theft is growing at a significant rate, especially in the financial services, professional services, technology, media and telecom industries.

In past years, Kroll found that fraud involving stock or physical assets was considerably more common than information fraud. As information technology becomes increasingly pervasive, however, data is taking on the kinds of qualities that made physical assets a primary fraud target, according to the firm. Data has become an asset in just about every business; it is often easy to steal; and it can be converted fairly easily into financial value.

Insiders appear to remain the greatest threats to information security, and junior and senior employees are equally guilty, according to the report. However, the financial services industry also has to be on the look-out for dishonest customers: While customers account for just 10 percent of fraud on average, in financial services they're behind 28 percent of the fraud. 

Vendors and suppliers are also a significant threat to information security, Kroll found, especially in the consumer goods business. Across industries, vendors and suppliers are perpetrators of 18 percent of fraud, but in consumer goods, they're behind 40 percent of it. "The broader message of the survey," the report says, "is an unpleasant one. Whatever the sector, if a fraud occurs the culprit is more often than not likely to be one of the people working with you."

Perhaps the most useful finding in Kroll's survey, which queried 800-plus senior executives across the globe, is the respondents' view of the causes of the growing information exposure.  The single most widespread culprit, named by 28 percent of the respondents, is the complexity of information infrastructure.

Information theft clearly is a growing concern for CIOs in all sectors, but it is not necessarily the one keeping them up at night. We asked CIOs from a variety of industries this month to tell us about the scariest things on their minds, and we got some surprising answers. Take a look at our special report, "What Keeps CIOs Awake at Night?" - Caron