Page 15 - WAD Beyond Global May 2021

companies due to fear of negative publicity, According to the specialists present at the suspect fraud. Companies should have
but this vicious circle only increases the risk, Summit, in Romania, banks are a fertile internal procedures for risk assessment,
so companies need specialists to apply ground for fraud, due to the multitude of training with employees, encouraging
specific investigative procedures and actors involved, transactions performed, whistleblowing (reporting suspicious
techniques to combat fraud. and products used. Thus, banks can be situations by employees).
defrauded by customers, employees,
“Unfortunately, less than half (49%) of the third parties, shareholders, or even those “Fraud always leaves traces and can be
frauds are reported to criminal prosecution who run them, through interpretable and proven with the help of specialists. The FEATURE - EVENT
bodies. Most companies choose to solve sometimes incomplete legislation. Also, suspects’ modes of operation are in a
the problem internally, because they are cards are the most fraudulent product continuous upgrade, and the anti-fraud
afraid of the negative publicity, but the of the banks, almost half of the total investigators specialize on a daily basis.
lack of fraud awareness leads to the idea crimes committed in the case of banking It is important that, as soon as it is
that it does not exist. At the same time, very institutions being represented by card discovered, the fraud is reported and
few companies have their own audit and fraud. investigated, so that the damage can be
control mechanisms, and most of them recovered quickly”, explained Nicolae
find out that they have an internal problem Employees who commit fraud usually Bîrlă, anti-fraud specialist, SPIA Romania.
from the other employees, who notify their come from people “with a seniority in
superiors when they notice that something the current job”, know the gaps within WAD Chairman Mike LaCorte had the
is wrong. the organization and, very importantly, opportunity to present WAD through our
have no criminal record for the first fraud promotional video at
The impact of fraud on organizations committed or discovered. https://youtu.be/QZBZ9Rbb-EM
is very important, but it has too poor
awareness. Therefore, any company “Employees cheat when they are in crisis: At the summit President Dan Rusu spoke
must be careful and report any security they have lost a lot of money at the casino, on WAD and its history to what it is today
issues, because fraud can occur anywhere they need a large amount of money, they a global group of elite investigators and
and there is no question if it occurs, but have someone sick in the family. That security professionals. He addressed the
when it occurs”, said at the Summit, is why we must pay attention to those benefits, importance and process being a
Andrei Croitoru, Managing Associate, act around us, because, beyond money, member of WAD.
Botezatu Estrade Partners. people need attention, appreciation, they
need to be listened to. An organizational WAD Chairman Mike LaCorte had the
Croitoru also says that, regardless of the culture that focuses on people’s needs opportunity to present WAD virtually
field in which it occurs, the main cause of is very important, and all Human through our promotional video at
fraud is money and men produce frauds Resources departments should have https://youtu.be/QZBZ9Rbb-EM
with damages three times higher than dedicated people who do this, even a
those caused by women. At the same psychologist would be helpful”, said Ionuț Pre-registrations for FRAUD SUMMIT 2022,
time, even if we can talk about a balance Neacșu, psychologist and crisis situations more details about the event, as well as a
between the number of frauds committed negotiator. blog section that will continue to publish
by a single individual and criminal articles on a monthly basis, are available
groups, the damage generated is 4-5 In the opinion of anti-fraud specialists, on www.fraudsummit.ro .
times higher in the case of organized Romanian organizations must be aware
groups than in the case of fraud committed of the factors that favour fraud and notify
by a single person. the authorities when they discover or
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