Insider Fraud - Should you be worried? by Arjun Medhi, Staff Fraud Adviser, CIFAS

While it goes without saying that most staff in any organisation are honest and trustworthy, there is a growing awareness and concern about the very real threat posed by the few who act dishonestly to defraud their employer. Fraud in the workplace can lead to an organisation experiencing a substantial internal impact, financial losses and unquantifiable damage to reputation. Most importantly, insider fraud is increasingly one of the biggest concerns for employers: Deloitte’s 2007 Global Financial Services Security Survey found that 91% of the respondents (from a range of 169 major global financial institutions) were concerned about the risks arising internally.

Insider fraud can take many forms: from deception through to stealing customer data and selling it on to organised criminals. Even at recruitment stage, fraud can be a problem, with lies included in application forms or on CVs.

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