‘Business unusual’ has created opportunity for fraud, and it’s going to get worse
The principles underlying the fraud triangle were first advanced in the 1950s and remain relevant today
04 August 2020 - 11:59
A global recession was expected in 2020 before the world was hit by a pandemic the likes of which had not been seen in 100 years. The 2008 global financial crisis demonstrated that fraud thrives when attention is focused elsewhere.
The recent change to “business unusual” has created new vulnerabilities. In a bid to survive, businesses are incurring substantial costs in areas where they have no experience in assessing value or tracking consumption. Stories of government grants, relief or aid packages and emergency funds being fraudulently misused are prevalent. And it's going to get worse...
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