Risk Assessment

Reducing Risk

Image from GFR

Do you fully understand the level of risk your organization faces? More governments are facing events like theft of cash, theft of fuel, ransomware attacks, successful spear phishing schemes, ACH vendor payment frauds, expense reimbursement schemes, purchasing and fraudulent return schemes, theft of inventory… It’s a long and worrisome list, and many of the recent local government fraud and embezzlement cases are for tens of thousands, hundreds of thousands, or even millions of dollars.

This may be more of a senior management issue than we would like to believe. The lack of ethical decision-making on the part of the person committing the fraud is obviously the primary factor in these cases, but there’s a problem when senior management believe their organization is well-protected without really knowing its vulnerabilities.

  • Publication date: April 2022
  • Author: David M. Ross