Uncertain times often means opportunity for fraudsters to exploit businesses and the public. The value of alleged cybercrime cases reached over £1 billion in UK Courts in 2019, according to research by KPMG.
Unfortunately for businesses the main threat may be from within, if employees are facing more financial difficulty, they might take risks, employers need a robust screening in place for new employees and third parties.
Mark Thompson, UK Investigations Director at KPMG, pointed out that fraud now constitutes a third of all UK crime.
Now is the time to identify your week spots and ensure your cybersecurity and procedures are top-notch. According to the report Procurement fraud is on the increase and can be hard to spot, from backhander payments, inflated prices, corrupt influence, collusion, and multiplication can all add up to take a toll on unsuspecting businesses.
For further reading follow this advice from the MET Police:
https://www.met.police.uk/advice/advice-and-information/fa/fraud/business-fraud/how-to-prevent-business-fraud/
#businessfraud #procurementfraud #commercial
