Zero tolerance to Frauds

Did you read the story about a newspaper reporter who was always first in publishing about a new murder because he was the one doing those killings. I have started questioning everything based on so much seen in fraud risk. I wonder whether it's only the fraudsters who get the financial gains from frauds, what about technology companies who sell softwares, consultants who get fat fees, forensic experts who charge a bomb to conduct forensic analysis, going one step further Anti Fraud Professionals who get to maintain their jobs and get increments due to higher levels of frauds. I started thinking about it when i heard a news item about Somalia Minister asking similar questions about pirates, a large anti pirate industry has come up due to Somalian pirates, insurance companies, security companies, negotiators, translators. Though being a optimist I believe that even though Anti fraud professionals get indirect gains from frauds they genuinely hate frauds and do their best to defeat

Due to the nature of occupation i try to look beyond the obvious, though this may look like propaganda by western world to some but there's no smoke without fire.

This list is endless, a google news alert gets at least 10 such news. Greed is never going to end

Some action happening in UK on tackling phishing, cost to commit fraud is so low with phenomenal returns, no wonder fraudsters like it so much.

This article from ACFE Fraud magzine accurately summarizes the risks involved in not doing professional background check done for corporate as well for government/regulatory sector. This remind me of a comment made by one of the sales professional when a case of anti fraud staff involved in fraud was found. He aptly said "who will guard the guards", I think background checks are relevant for all the industries across all the sectors including for profit and not for profit businesses.

It is always challenging to identify rotten apples in corporate sector but just like kitchen, these can be identified by smelling (Red Flags), occasionally picking a apple (top performers/poor performers) and at times by tasting it (Mystery shopping). I think all this sounds easy but must be difficult to implements, that's the only reason i can think of, why organizations don't do this regularly. Of course background checks remain the 1st part of this whole process.