Businesses are at greater risk of fraud during the recession, according to a corporate fraud specialist.

Paul Jonson, partner at law firm Pannone LLp, warned that the recession has made businesses "vulnerable".

His comments follow a warning from Mike D'Agostino, of the Information Security Media Group, who believes that information security and risk management should be a top priority for businesses during the downturn.

Mr D'Agostino also noted an increase in interest in IT support and security - which is no surprise "given the unprecedented focus on security and technology from President Obama and his administration".

Meanwhile, Mr Jonson said: "Businesses in particular are a popular target for fraudsters.

"Staff numbers have been cut and this means teams are often a few people down meaning they are rushed and perhaps not checking things correctly."

A recent survey by the Institute of Directors indicated that 33 per cent of directors had experienced fraud over the last 12 months.

According to a recent survey by Connect, the two biggest IT headaches for businesses were everyday hassles with IT (37 per cent) and security concerns (32 per cent).