In the wake of COVID-19, financial institution fraud is on the rise thanks to a mostly virtual environment and exposed vulnerabilities in organizations’ security systems and processes. Developing awareness of the types of fraud schemes is an important part of mitigating and lowering the risk.
Fraud is difficult to avoid entirely. However, some types of fraud are much more costly than others. Thankfully, there are many ways you can help protect yourself from an expensive business loss. Here are the best methods for preventing payroll and accounting fraud.