This week is International Fraud Awareness Week, reminding us all about the global effort needed to minimise the impact of fraud on communities, individuals, businesses and public bodies.
A strategy for fraud risk management is implementing the highest performing identity technologies to reduce the success of bad actors.
For public bodies, there are 5 principles of fraud management created by the International Public Sector Fraud Forum to factor in. This week the forum is hosting events and aiming to increase awareness around fraud issues.
Whilst fraudsters’ will always reinvent their mission, sometimes using new, innovative technologies like AI to help them commit fraudulent activity, they can be fought with vigilance, agility to risk and a “holistic approach incorporating detection, prevention and redress”. The five principles of fraud and corruption refocus us on awareness of how we should manage common threats to our identities and data, such as weak passwords and poorly designed documents. Mark Cheeseman OBE, Chief Executive of the Public Sector Fraud Authority shared the post on LinkedIn.
Certified Fraud Examiners estimate organisations lose 5% of their total annual revenue due to fraud, enabled by identity theft, corporate and consumer fraud.
Discover the vendors, public bodies and organisations with visionary ideas for solutions and the regulation environment to fight fraud at Identity Week. Next edition: Identity Week Europe, 17-18 June 2025.
