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PodChats for FutureCIO: Combating fraud risks in financial services in 2022
The Open Risk Manual defines fraud risk as unexpected financial, material or reputational loss as the result of fraudulent action of persons internal or external to the organization.
Deloitte noted that according to the 2016 ‘Report to the Nations’ by the Association of Certified Fraud Examiners, professional fraud examiners estimate that a typical organisation loses 5% of its revenue to fraud. In a competitive market, that could be your profit margin! The median losses from fraud in Asia-Pacific is US$245,000 – 104% more than that of the US.
In today’s PodChats for FutureCIO, we speak to…
The skinny
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