Zoe Weller’s Post

Just because part of your counter fraud capability is broken, doesn’t mean your approach is #flawed But does suggest you might need to review your strategy: - Are you monitoring and maintaining all your tools and procedures; not just relying on the business as usual to remain functioning - Are you comfortable with the resilience in your strategy and ability to respond to internal and external drivers such as business volumes and inherent fraud rate - Is agility built in; with ability to mobilise other compensating controls or prevention layers When the #boughbreaks need not mean approach followed is wrong; just maybe time to step back and take stock.

Are you tired of dealing with chargebacks, payment disputes, and fraud? It's time to take control and protect your business. Here's my top 3 advice: 1. Invest in a robust fraud prevention system 2. Train your team effectively 3. Keep abreast of industry changes Don't let fraud and disputes cripple your business. Are you ready to make the change?

Organizations should inject new momentum into their fraud deterrence apparatus by creating and launching superior anti-fraud measures that cover all their business activities in depth and scope. The fewer the spaces fraudsters have left to hide, the lesser the occurrence of fraudulent schemes.

Attention all business owners and team leaders! Fraud is on the rise and it's more important than ever to protect yourself and your team. Here are some key things to look out for to ensure you're staying safe.🔒 ‘Fraud is at a crisis level,’ says expert: 5 financial scams to watch out for in 2024 https://hubs.la/Q02qVndy0

Stay One Step Ahead: Effective Fraud Detection Techniques for Businesses Stay One Step Ahead: Effective Fraud Detection Techniques for Businesses Introduction: In today’s digital age, businesses face numerous challenges, one of which is the ever-increasing threat of fraud. Fraudulent activities can cause significant financial losses, damage a company’s reputation, and jeopardize the trust of customers and stakeholders. Therefore, it is crucial for businesses to implement […] https://lnkd.in/gQ9pAiGB

Fraud fraud everywhere, Apparently You can't see it anywhere. It's under the carpet and hush-up, mostly without any show-up, Gets importance when it is unearthed ,whether Start-up or grown-up. We read in professional literature, Fraud triangle and the departure. Biggies talk on modus of fraud and prevention, Which many of them even failed to detect in their respective organization. Many of them lost their job in the bargain, Hence, the lectures are bookish and in vain. One knows what happened in past many a times, Symptoms of control lapses blamed by leaders on same lines. New inventions to defraud and creative ones, Remained unnoticed, which perpetrators always cherish. Technology and solution, to some extent an illusion Reading action and re-action of human mind is the best resolution.

According to ACFE's Report to the Nations, organizations lose 5% of their revenue to fraud each year. While there are thankfully many pathways to mitigate fraud, one of our favorites is building a robust Know Your Business (KYB) program. While it may seem daunting to add more data to your onboarding process or account for unique and emerging fraud patterns within a new market, know that you're not alone in grappling with these nuances.

Sift - one of the best tool that you can use for fraud investigation

The Fraud Triangle The Fraud Triangle is a conceptual framework used to analyze the factors that contribute to fraudulent behavior. It comprises three components: Pressure or Incentive: Financial difficulties, personal problems, or other pressures that lead individuals to commit fraud . Opportunity: Conditions or situations that allow individuals to commit fraud, often due to weaknesses in internal controls or oversight . Rationalization: The mental justification or ethical reasoning individuals use to justify their fraudulent actions to themselves. The Fraud Triangle helps understand why individuals may engage in fraudulent behavior by examining the interaction between these three elements. #fraud #fraudtriangle #fraudprevention #fraudawareness

📲📩 Do you know the best way to report fraud to protect yourself and your business? 👇 Find out more below from our helpful info sheet. 💻 You can also visit our website to find out about different types of fraud and how to protect yourself. Search 'NERCCU' today for fraud specific advice today.