2019/20 from Kroll, this industry was most at risk facing a variety of internal and external fraud threats.
Fighting fraud for Professional Services
In the 2019/20 Global Fraud and Risk Report published by Kroll, the rate at which professional services firms experienced significant data theft in the past year far outstrips that of any other industry. It is clear that the greatest threat to this sector comes from its internal workforce; from junior employees, through to management.
Professional Service Firms are regular targets of fraud, which can just as easily be perpetrated by their own employees as those on the outside. It is therefore essential that an organisation’s internal controls are as tight as they can be.
All too often we see that organisations have been the victim of a fraud because their policies and procedures are not being followed internally; the technology they are using is outdated or simply not adequately secure; clients and new employees are not properly vetted; internal audits are not taking place or are not sufficiently thorough; and staff are not receiving regular training on fraud typologies.
If you are a client of a professional services firm which has been the victim of a fraud and which has resulted in financial loss to your business, we can help you with that too, as we have extensive experience in bringing professional negligence claims.
To find out how we can help please give us a call or email us