Fraud Security Threats in Business
As a business owner you would like to think that all your employees are trusted individuals, however, with the advent of new technologies fraud is actually on the increase. A simple search of ‘Google’ would highlight many instances of where fraud in firms has occurred.
28th March 2008
For example, an article in the ‘Scotsman on Sunday’ dated 7th January 2007, reported that business fraud in the UK had topped the £1bn level for the first time, a 40% increase to £1.37bn. This means reported fraud has now more than quadrupled in value from £313m since 2003. The worrying thing is that only about 15% of firms that discovered frauds reported them to the police. This is based on figures released by accountants BDO Stoy Hayward. As a result of this, the accountants estimate that the actual cost of business fraud was at least £5bn during 2006!
The question is as a responsible business owner, can you NOT afford to take measures to safeguard your business. Technology is creating the environment where firms are becoming more vulnerable, and opportunity fraud by once honest employees can easily occur.
The threat of being caught is a great deterrent, and ensuring that you make all employees aware of your determination to eliminate fraud is a good first step. Perhaps as a busy employer you may consider that you do not have the time to implement everything that needs to be done. This is not necessary the case, as there is a new product on the market called ‘Webwatcher’.
Most modern day fraud will involve use of a computer of some type, or an electronic device associated with a computer. Webwatcher will monitor almost everything that happens on a computer, including:
- Emails which are both sent and received
- Instant Message/Chats
- Tracks all websites that are visited
- It can controls which soft ware programs that can be used
- Tracks all key strokes typed into a computer
- Takes screen shots pictures of the monitored computer so you are able to see graphics etc
In addition to the above, clever technology enables the owner of a company to:
- Monitor a computer remotely, so if you are a travelling boss you are able to keep an eye on the workforce
- The ability to monitor laptops no matter where they might travel
- SmartCamera – a way to take intelligent surveillance video of all operations whenever a specific programme is used.
If you are interested in protecting your company from fraud activities, contact www.evosquare.com, quoting “Webwatcher”, and then we can start making your company secure.
P.S. A typical profile of a fraudster is:
- Usually male
- Mainly act in collusion with others - only one in three works alone
- Lifestyle doesn’t match income
- Usually in management or senior management
- Some 42 per cent work in a finance department
- Rarely take holiday - they don’t want someone to cover their position and discover their fraud
- Refuses or doesn’t seek promotion
- Also tend to be over-secretive, egotistic, unmotivated or unhappy, stressed/pressurised.
[Source: KPMG Forensic Fraud Barometer 2005]
If you are interested in protecting your company from IP fraud, contact www.AwarenessTech.com to start making your company secure.