An unsolicited phone call or email that appears to be from a trusted source can lead an employee to inadvertently share confidential information with a criminal.
Business fraud can also originate within your organization – an employee may steal equipment or products, or partner in a complex corporate espionage scheme. If a scam executed against your organization garners media/social media attention, your organization’s reputation and financial future may be at risk.
The Competition Bureau of Canada maintains an ongoing education and outreach campaign to help organizations fight fraud. The FACT – Fraud Awareness for Commercial Targets initiative is a consumer resource for information on topics such as:
Minimize your chances of becoming a victim of fraud by accessing the Competition Bureau of Canada publication, The Little Black Book of Scams in a variety of online and print formats.
There is much you can do to manage the risk that fraud poses to your organization. Talk to your insurance representative about risk management best practices for fighting fraud in your industry.
Thank you to Insurance Bureau of Canada for this information. To view original article, click here
