New research from PricewaterhouseCoopers claims to show that economic crime, and cybercrime in particular, are rising in Canada.

The report confirms previous research in the US market, but this is one of the first looking at the Canadian business marketplace.

PwC says that more than a third of Canadian companies have been hit by fraud in the last two years, a figure that is much higher than in previous surveys.

The research shows that almost half of the 100 companies surveyed are the victims of economic crime, including product piracy (19 per cent), cybercrime (15 per cent) and industrial espionage (7 per cent).

The report adds that misappropriation of assets is the top crime at 60 per cent, by many of these incidents also involved the use of electronic data.