Identifying key areas for fraud risk during the recession
As economic pressure increases, so does fraud risk.
While the world slides into a recession, the resulting increased debt, supply chain delays, and inflation create increased pressure on individuals to make ends meet. From a business perspective, as sales become harder to secure and profit margins narrow, motivation to break the rules ticks higher.
In this Help Net Security video, Ari Jacoby, CEO at Deduce, discusses how cybercriminals see times of downturn as an opening to exploit potential vulnerabilities. But companies are also at risk from internal sources. Layoffs and heightened expectations to perform may create disgruntled employees. Mass offboarding also increases the chances that something will be missed as you remove employees from critical documents and revoke access to sensitive information.
Founders on a budget may not have their normal resources deployed to help prevent fraud both internally, externally, and even from vendors.