While internal audit can always review an organisation’s process and procedures, it cannot always detect the minor frauds – which is where forensic data analytics can play a vital role.
One of the misconceptions around corporate fraud is that it’s perpetrated from the outside – that offshore cyber criminals, master hackers and internet gangs are using advanced technologies to wreak havoc on corporations and institutions from afar.
Insurance behemoth Allianz asked 1900 business respondents in 88 countries this year what were their most feared “risk events”. The bulk of respondents believed their companies were most at risk to cyber fraud, ransomware and/or outside intrusion of proprietary data.
The truth is, fraud is the enemy within. Asset misappropriation, the common art…
