Fraud is often perceived as an unavoidable cost of doing business. And in most cases, this perception is accurate. Despite the bevy of new anti-fraud controls continually being implemented and improved among businesses across all sectors, fraud persists. But while fraud is largely inevitable and eradicating it largely impossible, the fight against fraud doesn’t have to be fruitless. Here are a few tips to help businesses combat this threat more effectively:
Think like a fraudster
Fraudsters are nothing if not persistent. Just because a new anti-fraud measure might render one tactic or scheme no longer feasible doesn’t mean the fraudsters behind it will cease their illicit efforts altogether. The challenge is, how do we anticipate what a fraudster’s next move might be?