Today, fraud is a major issue for companies of all sizes. Whether in the form of bogus transfers, insurance fraud or pyramid schemes, the consequences can be dramatic for organizations that fail to protect themselves.
Immerse yourself in the mechanisms of fraud, discover the different types that exist and understand how to detect them and protect yourself effectively.
SEPA e-mail fraud
This type of fraud exploits electronic exchanges to divert funds via false SEPA mandates. Fraudsters pose as financial partners in order to retrieve the banking information required for fraudulent direct debits.
Insurance fraud
Long considered a victimless crime, it nevertheless weighs heavily on insurers' finances. The mechanisms are varied: invented claims, exaggeration of damage or even false declarations.
Pyramid fraud: the Ponzi scheme
Famous for its resounding scandals, the Ponzi scheme is based on a fraudulent economic model: investors are remunerated thanks to the funds brought in by new entrants, creating an illusion of profitability.
Authorized push payment (APP) fraud
This practice, which is on the increase, involves convincing a victim to authorize a payment to a fraudulent account, often under the pretext of an emergency or a false order.
The false international bank transfer order (FOVI)
Fraudsters use identity theft to convince a company to make a bank transfer to a foreign account. This particularly sophisticated technique targets companies operating internationally.
False invoice fraud
It is based on the transmission of false invoices to the company, which, if it is not vigilant, proceeds to pay the amounts requested.
Empty shell fraud
This emerging fraud aims to create false business entities to defraud suppliers and partners.
Preventing fraud risks: Effective solutions
Faced with an ever-increasing number of attacks, it is becoming crucial for companies to equip themselves with high-performance tools. Digitizing processes, automating transaction monitoring and tightening control over financial data all help to minimize risk.
Protect your business today
Don't let fraud jeopardize the stability of your business. Take the lead by securing your financial operations and training your teams to detect red flags.
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