To share views about current and emerging fraud trends.
Clarification on Podcasts
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Most of the Podcasts available on i-tunes is free of cost, however you will need to have an ipod, and the i-tune downloadable free of cost from the apple site.
Great work done by law enforcement agencies in USA, one thing I liked most about this investigation was that when they started the investigation it was about smuggling of counterfeit cigarettes but concerned officers didn't brush it off by thinking it as innocent smuggling and later on same set of criminals also got involved in smuggling of weapons. Same has happened in India in 1990s but i think people involved in it didn't realize that routes for smuggling of goods can also be used for smuggling of weapons. I am tempted to compare this with frauds in corporate sector wherein at times people think that if somebody has inflated conveyance claim it's not a big deal and it's just a small amount. They don't realize that same guy would over a period graduate to other bigger frauds as he has tasted blood once and just like Vampries ( I loved the Edward and Bella series) once some one has tasted fruits of fraud it's very difficult to control it.
I love this, use technology to fight back by increasing productivity, pooling resources. At times people only focus on threats but here they are talking about turning it into a strength. http://www.moneycontrol.com/news/wire-news/not-so-simple-us-spy-agency-trying-to-go-mobile_590263.html
Fraud prevention is often treated as a cost centre rather than a strategic business unit.what can anti fraud professionals do to change the perception.i truly believe that if collections can be treated as a line function then Fraud prevention cell too should be treated as a line function rather then a support function.I feel that this unit is always treated as a supprt unit due to which it doesn't get it's dues.I feel that if goal sheet for the unit is revised to show more of tangible results then it may help in changing the perception.At the same time repositioning is required to move potential savings to actual savings.one step could be to conduct fraud checks at the end of all process so that true savings can be shown.for eg post credit sampling would highlight cases with ctaual savings as all these are approved cases.would like to hear other thoughs about this
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