Fraud is a major concern for all insurance companies. Some professionals even believe that during the first year of the pandemic, the number of insurance claims with an indication of fraud had doubled in number. Fraud in insurance happens when someone deliberately lies on purpose to take advantage of insurance that...
Irregularity found in financial statements leads to two possibilities; fraud or error. What's the difference between the two? The difference between fraud and error lies in the intention. Simply put, fraud is an act that is intentionally carried out to benefit certain individuals or groups and causes detrimental effects to others,...
Advancements in technology, globalization, and the drive for efficiency have led to the development and progress of corporate infrastructure and operations. In this evolving landscape, it is not only the physical aspects such as buildings and technology that require attention, but also the systems, processes, and policies that support smooth...
The advancement of technology, the pandemic, and the economic recession have become the main drivers of the gig economy. From ride-hailing online drivers and package and food delivery personnel to freelance software developers, more and more individuals are working outside of the typical nine-to-five workday. While employing gig workers can bring...
Technology has become a fundamental tool that simplifies people's lives in various ways., but how can technology assist in the search for missing individuals? "Missing," a movie starring Ava Zaria Lee, Nia Long, and Ken Leung, produced by Sony Pictures, vividly portrays the significance of open-source intelligence (OSINT) methods in tracking...
The fraud risk matters for all companies and organizations, including nonprofit organizations. Data from Report to The Nation 2020 shows that fraud cases recorded as many as 191 cases with corruption cases taking first place as much as 40% and were followed by billing and cost reimbursement cases. The estimated non-profit...
With a population of 265 million, Indonesia is an attractive market potential for the e-commerce industry. However, like other industries, e-commerce does not escape the risk of fraud. Although e-commerce applies advanced technology, the perpetrators always strive to seek opportunities by committing fraud in order to get a profit. The followings...
In general, fraud and theft in companies are conducted by internal parties. Based on the Global Fraud Survey by Kroll and the Economic Intelligence Unit, in 2011, 60% of the frauds were committed by senior managers, junior officers, or third parties. To prevent this, companies need to take preventive measures. The...
Internal controls play an important role in preventing fraud in any company. According to ACFE's 2014 Global Fraud Study, a lack of internal controls is a major contributing factor to nearly one-third of fraud cases. As the saying goes, 'No rose without a thorn,' even though your company has tried to set the...
In almost every case, law firms would need to locate people who are avoiding cases. However, this is not easy. Plus, it is difficult to get people to cooperate and be willing to be involved in a legal case. Therefore, skip tracing is needed. What is Skip Tracing? Skip tracing is a...
