Affiliate whitepaper: The thief on your payroll – Detecting and preventing internal fraud losses

A whitepaper by ACFCS Affiliate Member FIS Global 

The company, based in Jacksonville, FL., is the world’s largest global provider dedicated to banking and payments technologies.

When discussing the prevalence of internal fraud at a conference recently, a fraud manager of a financial institution remarked, “I’m afraid to watch the news.” This was a common sentiment shared among audience members, and a Google search on “Bank Employees Stealing” explains the reason why.

Internal fraud – also called occupational fraud or employee fraud – occurs when an employee, manager or executive commits fraud against his or her own company. It has been consistently pervasive and accounts for losses of 5 percent of yearly revenue, according to the Report to the Nations on Occupational Fraud and Abuse: 2014 Global Fraud Study conducted by the Association of Certified Fraud Examiners (ACFE).

This whitepaper, provided by ACFCS affiliate member FIS Global, provides guidance on how financial institutions can identify and own the problem of internal fraud, expand their plans to key stakeholders, and monitor and learn on an ongoing basis to achieve the best results.

Download the Whitepaper Here.