About identity theft, inappropriate promotional gifts and voice fraud: these are the types of fraud that may affect your company

Hundreds of thousands of fraud cases are reported every year. But just as no two companies are identical, every case of fraud is also unique. Everyone is familiar with cyber fraud but did you know that your company is vulnerable to other forms of fraud as well?

1.         External enemies

Stolen funds and property by outsiders: the number of cases of external fraud has skyrocketed in recent years. Intercepting and forging invoices and orders are a popular form of fraud but email, signature or voice fraud are no exception either.  In extreme cases the fraudster assumes the identity of the CEO or CFO to collect payments in their place.

2.         The enemy within

Not all fraudsters come from outside the company. 37% of all fraud cases are the work of in-house staff. Just think of the theft of office supplies or the purchase of inappropriate promotional gifts. Using your ties with the company for private purposes is one example of internal fraud. Other textbook examples include having the company make fictitious payments on one’s own account or making private purchases in name of the company.

3.         All corners of the globe

Cyber fraud remains the most widely known form of fraud. Just think of cyber attacks where hackers install a virus to lock your computer files. Or phishing mails to obtain confidential passwords in hopes of committing fraudulent acts in your company systems.

In the last two years more than half of all Belgian companies have fallen victim to cyber fraud. The advancing digitalisation and the increasing use of social networks only make your company more vulnerable to cyber criminality. This means that optimum protection is not an unnecessary luxury.

14 results

Apr 13, 2021

10 tips to protect your company against cybercrime

Anyone using the internet should take some basic precautions to prevent from cybercrime. This is why we propose you 10 tips to protect yourself and your company against the range of cybercrimes.

Feb 23, 2021

A cyber protection is not enough

No matter your industry or the size of your business, your company is exposed to cybercrime, especially in times of economic or sanitary crisis.

Sep 22, 2020 | Cyber & Fraud

Covid-19: How to protect your company ?

COVID-19 has thoroughly changed our way of working. Teleworking has become the norm, but it is also a source of inspiration for online fraud. How to protect your company?

14 results