Fraud is a constant in commercial life. To give an idea of the scale of the problem, the total annual cost of fraud and error to UK businesses lies between £130bn and £190bn per annum. This is largely an unnecessary cost. Companies can prevent much of it.
It’s important to be aware that it is up to you to protect yourself. Fraudsters will always find new ways to exploit weaknesses and invent new scams to breach your defences. And the authorities do not have the resources to address the vast majority of these fraud activities.
Fortunately, there are ways to both prevent and detect fraudulent activities. This report focuses on external fraud – attacks involving individuals and organisations from beyond the perimeter of your business.