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Risk Management
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Fraudster, Fool or Financier? Who’s Controlling Your Cash?

Fraudster, Fool or Financier? Who’s Controlling Your Cash?

by Helen Sanders, Editor

There is a saying that “if a man defrauds you once, he is a rascal; if he does it twice, you are a fool.” As the media headlines and crime statistics reveal, fraudsters seeking to steal our own – or our customers’ – cash or data, organisations from around the world are being made a fool of every day. Treasurers can only control some elements of the growing and changing threat posed by external fraud, particularly cyberfraud, but treasury has an important influencing role, and some aspects remain squarely within treasurers’ area of responsibility. So how can we as treasurers prevent fraud and mitigate the impact?