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Margesh Rai
| Updated: 17 Mar, 2020 | Category: Risk Management

Superior Fraud Risk Management Solutions are the Need of the Hour

fraud risk management

Fraud opens the door for fraudsters and cyber criminals. In other words, we can say that it’s an opportunity in disguise for them. Chances of frauds are likely to be high in case you are not following the security protocols for your business. Fast-paced development in terms of technological aspects boosts the confidence of hackers and cyber[1] thieves. Fraudulent activities will create a hurdle in the successful running of any online business; therefore, fraud risk management is necessary.

Furthermore, it may make business houses lose their regular customers. Also, it will create fear in the mind of potential customers, and thereby, pose a threat in the growth process. Finding apt solutions for fraud risk management is a must-do activity. 

So, how to handle and manage frauds effectively?

Recent reports suggest that the global e-commerce market will witness blissful days in the upcoming years. The scale of online and mobile shopping is showing an upward trend.

Thus, the question arises – Are you ready to equip your online business with a world-class fraud risk management system? If your answer is no, then you must know that the reputation of your business is at stake.

Fraud Risk Management Approach and Security Measures

In response to the increasing fraudulent activities, we have developed anti-fraud measures to diagnose and detect frauds. With our comprehensive fraud risk management approach, we have got the knack for dealing with business frauds.

Given below are the steps through which we can assist you with robust security measures:

  • Take fraud risk exposure into consideration   

It’s crucial to analyze the current condition and organization’s command over anti-fraud measures which involve assessment of culture, behaviour, and employees knowledge and their viewpoints on the issues related to frauds. There is nothing better than considering fraud risk exposure. To be precise, the first step is all about diagnosis and in-depth analysis of things.

  • Detect potential gaps in the direction of fraud management

Another noteworthy step is concerned with detecting gaps in anti-fraud controls. The fraud control framework is set up in such a way that proper evaluation and top-notch analysis of risks related to frauds has become a possibility. Armed with the well-established anti-fraud policies and fraud risk management strategies, we are moving on the right track.

  • Recommend hard-hitting solutions for risk mitigation

Suggest betterment of existing controls and security measures to mitigate anti-fraud controls and close the door for different kind of risks and cyber crooks.

  • Can’t ignore continuous monitoring 

Technology endows you with periodic monitoring tools that will help you in keeping an all-time check on the controls. It’s not wrong to say that you can’t ignore the monitoring process and move ahead.

  • Development of counter fraud plans

Development of efficient fraud response plan in order to-

  1. To tackles cases pertaining to confirmed fraud
  2. To give the nod for the further investigation of alleged or well-proved fraud
Cyber Risk Management

Services We Render

Fraud Awareness Sessions and Training Programs

  • These workshops and training programs can help in familiarizing with the potential fraud indicators.
  • As per the requirement of the specific organization or company, there is a scope for the customization of these programs. It is beneficial for the participants as they will get to learn to implement working concepts and tools and necessary measures to mitigate the fraud kinda risks and to foster the ethical environment in the end.
  • This training program comprises video presentations, speeches by experts from different fields, role-play activities, and employees’ participation in group discussion for their all-round development.
  • By doing this, management can harness the efforts of the participants in its fraud control activities. Most importantly, it can reduce the cost of fraud within the sphere of the organization.

Conduct a much-needed forensic health check program

  • It will widen the scope for thorough investigation procedure for those organizations that do not stick to the exhaustive fraud risk assessment guidelines.
  • Off and on a basic check would assess the health of an organization in terms of misconduct or fraud.

Fraud risk management along with implementation part

  • A structured fraud risk assessment lays a foundation that helps in creating and managing fraud prevention and detection policies. The journey begins with risk identification and gets a boost with the evaluation of potential gaps in the essential supporting structure.
  • A deep insight into the sector, customized data analysis reports will help in achieving the above-mentioned goal.
  • Above all, implementing a dashboard of anti-fraud control can extend support in keeping the testing control under observation in a consistent way.

Additional Fraud Risk Management Services


Provides others with a platform to report unethical practices

Our ethical helpline team is a helping hand not only to the employees but also to the third party linked with the organization by giving them a platform to report devious practices.

Implementation of anti-counterfeiting set-up

We are capable of providing support in building and putting an active anti-counterfeiting set-up into effect.

Measure the employee’s opinions

  • Organization’s perception survey is a way through which we can comprehend the thought process of employees on the current status of fraud risk management activities and operations.
  • It’s good to have such a kind of survey as it assists the management in noticing its strengths and weaknesses which can upgrade the level of fraud risk management planning part.

Fraud vulnerability and risk assessment method

  • This is a method of fraud risk diagnosis evaluation through which an organization can keep tracking fraudulent activities and immoral behaviour. Recently, this method has gained popularity as it ensures risk assessment and fraud vulnerability in a limited time.

Explore more about us

We have accumulated a lot of knowledge about fraud risk management concerns. Therefore, we can provide wholehearted support to our clients by identifying the zone of business vulnerable to fraud and wrongdoing. Moreover, we can assess and rank the fraud activities based on priority and adhere to anti-fraud actions which can assist in mitigating risk factor and give wings to active and regular fraud prevention measures.

We, at Corpbiz, keep on monitoring suspicious activities. Moreover, we work with utmost dedication and show intent to win the battle against threats posed by criminals. If you are looking to envelope yourself with various levels of protection, then we promise you that our services will deliver you in terms of security whatever you want. When it comes to cost-effective check fraud protection, we showcase our prowess by being the best in the market.

We have long been committed to putting up a fight against fraud and theft, which is why we offer you the best anti-fraud protection measures in the market and will help you in keeping fraud-doers at bay. Above all, we join hands with the organizations by helping them in revising the fraud risk management strategies to bring them in line with the current fraud trends.

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Margesh Rai

Being a poetry lover, and an avid reader, Margesh is fanatical about legal content writing. After completing graduation in B.Com(H), he decided to follow his passion. Writing impeccable in-depth content about legal and finance-related topics is his biggest forte.

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