At any time, and in almost any place, the anti-fraud agenda can be heard linked to global crises, national agendas, corporate imperatives, or simply personal security – it affects us all. The COVID-19 pandemic: fraud is on the rise. Increased use of digital tools: fraud is on the rise. Working from home: fraud is on the rise. What are we to make of this in reality? Surely there is some ‘numbing’ effect here. We become so used to hearing that there is a problem that the risk becomes a background consideration, or worse, the cost of fraud becomes an operational hazard rather than something we can really get our teeth into.
This poses the obvious question: for all the technological development, advancement of systems, training programs, fraud awareness weeks, regulatory fines, and the clear costs of these activities, how much fraud has actually been prevented, detected, or prosecuted above what might otherwise have been the case?
In this article Senior Managing Directors, James Tebbs and Kassem Younes, take an in-depth look at fraud prevention and explain the practical steps organizations should take to avert fraud from happening.
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