In times of economic stress, corporations face heightened fraud risk, both within and outside their organization. To protect their bottom line, it is critical that organizations have in place a robust anti-fraud strategy, effective monitoring and controls, and a meaningful fraud response plan. History shows that times of crisis trigger an increase in corporate fraud incidents across a range of categories. Given the current squeeze on revenues and focus on cost management, organizations that can root out and protect against fraud will bolster their bottom line. Without question, a multifaceted approach works best.

Joanne Taylor, managing director at K2 Intelligence FIN, discusses what tactics entities can employ to protect themselves during times of uncertainty. Among her recommendations, she includes: 

  • Identification and swift investigation of fraud incidents
  • Creating a fraud response plan
  • Cohesive identification of fraud risk
  • Ongoing monitoring for fraud
  • Prevention through antifraud controls
  • Ensuring there is a deterrence factor
  • Being mindful of whistleblowing

Read the full article in ACC Docket.