Top 5 Strategies to Identify & Combat Business Fraud

13th to 19th of November is the International Fraud Awareness Week, which, as the name suggests, is a global effort to reduce business fraud by promoting greater anti-fraud awareness.

There are many forms of fraud – corporate fraud, consumer fraud, tax fraud, identity theft, among others. One thing is for sure, fraud is prolific. According to Financial Fraud Action UK, there were more than one million fraud incidents in the first half of 2016, up 53% compared to the same period last year.

Blackhawk Intelligence is an established financial fraud investigator with our own in-house experts. Combining this speciality with IT Forensics and Accounting Forensics, we leave nothing untouched. Every organisation is vulnerable to fraud, but with us by your side we can help you to reduce your company’s fraud risk, uncover fraud, minimise the cost of complacency when fraud happens, and work with you to establish a solid process that will boost the confidence of your stakeholders and customers.

Here are the top 5 strategies which Blackhawk can help your company identify and combat fraud:

1. Get a Fraud Assessment – Let Blackhawk help you identify any weaknesses in your process. By having a fraud prevention check-up, you have an opportunity to fix the problem and not become a victim of fraud.

2. Enhance Computer Security – we have seen that many security breaches come from within the organisation. Our IT forensic team can help to advise on spyware scanning programs and/or to conduct random checks on your network.

3. Compulsory Background Checks – employment screening and executive background checks are part of the Due Diligence service provided by Blackhawk. Since rogue employees are not unique nowadays, we advise you to screen your key employees on a annual basis.

4. Training – we can help to train your employees about fraud and instil the perception that fraudster(s) will be caught. When people know that you are working with us and they will be caught, they are less likely to commit fraud in the first place.

5. Safeguard Your Company’s Finances – you may not be able to check through every line of reoccurring charges or voids and duplicate payments, so at Blackhawk we have a team of Accounting Forensics specialising in analysing data and digging into practices that may reveal a fraudster at work. We can also establish a “checks and balances” process and help you implement that.

Fraud happens when you least expect it, so don’t believe that you are immune to fraud; in fact no one is. Talk to Blackhawk today. Let us help you to minimise your company’s fraud risk. Meanwhile, sit back and enjoy this video:

Summary

Article Name

Top 5 Strategies to Identify & Combat Business Fraud

Author

Avi Kahalani

Description

13th to 19th of November is the International Fraud Awareness Week, which, as the name suggests, is a global effort to reduce business fraud by promoting greater anti-fraud awareness.