Fraud and Financial Crime Management
Gain unparalleled protection from internal fraud and external financial crime. Meet compliance and regulations without complexity.
Part 3 of our myth-busting guides will help you prepare a corporate responsibility plan for your organisation’s internal fraud risk strategy by identifying the stakeholders needed for collaboration, enabling you to increase awareness, surveillance and diligence and to reduce fraud risk.
For today’s smarter fraudsters, weak controls and fewer resources provide an ideal opportunity for exploitation.
HR, IT, Finance and the Audit team all need to collaborate and work together as an effective unit in order to successfully protect the business. 74% of fraud cases involved the exploitation of weak internal controls by fraudsters and newly announced government proposals are set to make the boardroom more accountable.
Business leaders will also now be forced to balance anti-fraud investment, an item that may have suffered previously as a result of cost-cutting.
If cost-cutting really is necessary, then it must be carefully balanced with risk management – as short term savings have the potential to expose the business to further risk, resulting in long term losses if not managed effectively.
Best practice dictates that 100% of your transactions need to be reviewed before they go out of the door. If you’re assessing your internal payment processes against best practice, then here are the critical points you need to consider.
In this episode of the payments podcast Julien Laurent, Market Development Manager for Fraud Solutions at Bottomline, joins us to discuss the modern and adventurous techniques that are being used by fraudsters, and how organisations can stay vigilant.
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