Improve my fraud prevention and minimise cyber security breaches

OVERALL by:

• accepting that prevention is better than cure, but once a type of fraud is stopped another begins. Eliminating fraud completely is an impossible dream, but it can be minimised.
• recognising that occupational fraud and abuses (also known as internal fraud) is by far the biggest source of fraud, representing $3.7 trillion globally in 2013 according to Association of Certified Fraud Examiners (AFCE) in the USA, see:
  • Global fraud loss $3.7 trn in 2014 ACFE estimate with occupational fraud biggest | C&TM File
  • FRAUD, the fastest growing business on the planet, is booming | C&TM File

• not trusting anyone, any system, checking everything and insuring where you can, see: Play it safe, don’t trust anyone, don’t trust any system, check, and cyberinsure | C&TM File
• reviewing your fraud prevention systems and processes regularly, unlike the 18% who say they have never reviewed, see: When did you last review / update your fraud prevention processes? | C&TM File

IMPROVE FRAUD PREVENTION by:

• use the new technologies to bring user identification issues under control, see:  
  • Barclays change identification rules: no need for ‘What you know’ to identify user | C&TM File
  • Pelican Sanctions filtering service opens door to stress free life for corporate treasury | C&TM File
• make people, not just companies, accountable, see: Personal accountability and tighter fraud controls in wake of ‘Yates memo’ | C&TM File
• fight payment fraud by adopting simple, practical solutions, see: AFP Payments Security Guide: insights for fighting payment fraud | C&TM File

MINIMISE CYBERSECURITY BREACHES by:

• adopt the 10 steps the UK’s spymaster (GCHQ) recommends, see:  10 steps to Cyber security from UK’s GCHQ | C&TM File
• accept that your company needs a new approach, see: Corporates need alternative approach to cybersecurity | C&TM File
• beware of ransomware, see: Cyber threats: corporates must beware ransomware in 2016 | C&TM File
• stop staff downloading data to personal devices and adopt therse two practices, see: Key problem in Cyberspace: Staff downloading firm data to personal devices | C&TM File
• be aware that your supply chain could be your weakest link, see: Supply chains are the weakest link in cyber crime | C&TM File