CARY – Stepping up efforts to combat growing cybersecurity issues from theft to hacking, SAS is creating a new division to capitalize on its portfolio of resources.

The new effort by the privately held software firm will include the hiring of 100 additional workers over the next three years with 50 positions set to be created in 2018.

The Fraud and Security Intelligence Division was announced Monday at the SAS Global Forum in Denver.

Veteran SAS executive Stu Bradley will lead the new group, which assembles some 400 current SAS employees spread across 25 countries. Bradley’s title is vice president of the new division. He previously served as vice president of Cybersecurity Solutions.

“Over the last 15 years, SAS has built a reputation as the leader in fraud and security intelligence,” said Bradley in the announcement.

“The rise of the digital economy has been matched by the rapid spread of fraud and cybersecurity risks, making now an ideal time for SAS to redouble and refocus its leadership in this area. We want to meet customers where they are in their analytics journeys, particularly as they adopt technologies like AI, IoT and cloud. With SAS to help them, they will be even better equipped to break down data silos, adjust to shifting regulations, and safeguard against present and future risks.”

IBM recently reported that human failure is a crucial factor in many cybersecurity failures to protect data. SAS cited data in Monday’s announcement from the Association of Certified Fraud Examiners which estimates that many organizations “lose 5 percent of annual revenues to fraud, equating to trillions of dollars in losses worldwide each year.” SAS also noted a report from consulting firm PwC which found 49 percent of companies have said they were victims of fraud and economic crime over the past two years, an increase from 36 percent.

SAS already offers a variety of fraud and cybersecurity services that rely on SAS thought and product leadership in data anlaytics.

The company, which is a global leader in analytics, employs more than 14,000 people worldwide and reports more than $3 billion in annual revenues.