Saying NO to FRAUD
"Fraud" is the intentional deception of a person or entity by another made for monetary or personal gain.
In today's globally connected world, many fraud perpetrators locate themselves across international borders to make it difficult to be found out and, if so, to be prosecuted.
In many cases, fraud is just one element of larger crime, or an easier way to make money to finance criminal organizations.
Most of the fraud cases are never found out and much fewer make it to a successful prosecution. The latter in particular as the obligation to reasonably assure genuineness and trustworthiness a proposal falls on the individual or entity before any money exchanges hands.
Whichever way we look at it, FRAUD is a CRIME.
Fraud is not new, but the ways fraudsters operate have evolved significantly in recent years. The Internet has spawned a new way of fraud and crime of very serious global proportions. The faceless new world of the Internet brings about ever more ingenious and elaborate ways in which fraud is perpetrated and is escalating the opportunities to commit fraud.
Fraud declines our trust in fellow people, business and commerce, economies and governments and leads to an erosion of consumer and market confidence, in companies and their products or service. Its economic effects are clear, worse public services, less financially stable and profitable companies, diminished levels of disposable income for all of us, except the fraudsters.
MITIGATING today's rampant FRAUD
Every day companies are constantly challenged to survive and grow in today's highly adverse economic conditions.
Countries are battling epidemics of unseen proportions and the vast majority of people continue to scramble to make ends meet.
Yet fraud continues to escalate and diversify in extent and versatility that it now affects people from birth until death. Nobody any longer is immune from fraud. It is truly global and continues to grow with ever more opportunities to commit.
Counter-fraud experts have elevated fraud as a global crisis. Fraud risk holds no bias, is faced by everybody, with nobody being immune against it. The amount of money lost to fraud, whether directly or indirectly, has reached exorbitant proportions.
Remaining indifferent to FRAUD
Continuing to tolerate the unethical behavior of fraudsters, who leave us out in the cold while they reap in huge profits from defrauding us, means to accept to be ripped off, not just through paying a premium for inferior products and services, but because of the wider consequences from counter-fraud actions themselves.
They will not come cheap though and we, eventually, have to bear the cost of these through higher product prices and in more taxes. In addition, we will have to accept an increase in the loss of privacy; on top of many other non-financial inconveniences.