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5 Steps to a Stronger Fraud Detection Program in 2020 and Beyond

Association of Certified Financial Crime Specialists

As 2020 comes to an end, the effects of the COVID-19 pandemic cannot be denied by businesses or communities around the globe. The financial devastation, as well as loss of life and health, has taken its toll. Natural disasters of any kind have historically brought fraudsters out of the woodwork, pouncing on what seems to be a neverending pool of vulnerable victims.

The Federal Bureau of Investigations (FBI) reports that the more catastrophic the event, the more active the fraudsters. COVID-19 is arguably the worst worldwide disaster in decades, and an increase in fraud has been detected on a wide scale. While some of the recent trending fraud schemes are not new, they have been transformed to prey on communities already dealing with unprecedented times. How is your organization moving to solidify its anti-fraud program to mitigate these increased risks?


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