Game of Fraud: The CFO's guide to lead the fight against fraud
With digital transformation, fraud-related claims are on the rise affecting businesses of all size and industries. In this context, the fight against fraud has become a top priority for finance departments. If finance professionals are going to be effective in leading the fight against fraud, they will need to adapt their defenses to face new and more aggressive forms of fraud and fraudster who are better organized then ever.
This whitepaper will provide you with a concrete roadmap
What are the different types of fraud?
What are the risks for the company?
What does the company gain by actively fighting fraud?
Which prevention method? Logic based on three pillars: Technologies, the organization, behaviour
How to fight effectively against fraud? Key elements the CFO should adopt
How to combine performance and security?
Discover the CFO's guide to lead the fight against fraud
By reading this whitepaper you will get an overview of:
What are the different types of fraud?
Despite the implementation of increasingly sophisticated mechanisms, corporate fraud continues to gain ground, as illustrated by data that is both surprising and worrisome: half of all UK companies have been victims of fraud in the past two years, according to a survey conducted by PwC.
What are the risks for the company?
Most UK organisations do not have a contingency plan that they can activate in case fraud occurs, despite the considerable risks: financial risk is at the top of the list, followed closely by data theft and potential impact on the company’s reputation.
Which prevention method? Logic based on three pillars: Technologies, the organization, behaviour
The fight against fraud must be part of a global strategy based on three core pillars: new technologies, the organisation itself and behaviour. It involves behavioural organisational solutions that include raising employee awareness significantly; communicating clearly at all levels of the company; systematising and increasing controls, special audits and more.
How to fight effectively against fraud?
It is important to pay attention to technology, which happens to also be the fraudster’s favourite tool. Many tools are available today for automatically detecting fraud. This includes Big Data as well as invoice processing automation solutions powered by artificial intelligence.
