Understanding fraud requires recognizing its various forms and the contexts in which it occurs. Fraud can be broadly categorized into three main types:

1. Fraud Against Individuals: This category includes scams and deceitful practices that target private individuals, aiming to steal personal information, money, or other assets. Examples include identity theft, phishing schemes, and credit card fraud.
2. Occupational Fraud (Internal): Also known as insider fraud, this involves dishonest activities committed by employees or other internal parties within an organization. This type of fraud can take many forms, such as embezzlement, payroll fraud, and financial statement manipulation, and it often exploits weaknesses in internal controls.
3. External Organizational Fraud: This type involves fraudulent actions perpetrated by external parties against organizations. Examples include vendor fraud, cyber-attacks, and insurance fraud. These actions are typically aimed at deceiving the organization for financial gain or other benefits.

In this presentation, we will delve deeper into these categories of fraud, exploring their characteristics, common schemes, and preventive measures. By understanding the nature and mechanisms of fraud, individuals and organizations can better protect themselves and mitigate the risks associated with these deceptive practices.

On June 11th, over 100 people joined FNBM for this virtual seminar.

Posted in Security Updates