Digital technology has emerged to change the way we do life. More abundantly so in western society, where computers are prominent, and largely used to organise and manage our lives. Computerised digital gadgets used to download apps are widely available and can be used in a variety of ways to control and access online data such as personal accounts, business banking, and home entertainment. Digital technology has taken most businesses to the cloud for storing sensitive client data, changing the way we manage the business, and how we communicate with clients.
The fear of being hacked, cheated, defrauded and spied upon is not unwarranted. Thousands of dollars are lost due to scams and to fraud and corruption every year. On 3 June 2020, Ronald Mizen for the Financial Review pointed out how thousands of My Gov accounts are up for sale on the dark web. It’s not surprising! Online cyber fraud statistics are on the rise.
The emergence of COVID19 has resulted in shutdowns and job losses which can be considered kindling for corporate fraud, leaving Australian businesses more vulnerable than ever before.
Deloitte warns the direct threat to global livelihoods, awakens the potential for crime. Online criminal behaviour has been on the rise, and the potential for bribery and corruption to spike across the Asia pacific is very real. These testing times can be leveraged for tightening an organisations commitment to integrity. Corporate Australia made of organisations, non-profits and government all need to take heed.
Fraud and corruption can also go undetected within organisations by those who find loopholes in the system. Cybersecurity needs to be taken seriously. Bribery and corruption can present itself in many ways within an organisation, such as nepotism, dishonesty, conflicts of interest and money laundering. That’s where Electronic Forensics or (digital forensics as it is also known) can be used to investigate and report admissible in court findings, and advise a business on appropriate security measures to take.
159 Corporate, government and not-for-profit leaders were surveyed by Deloitte providing some key insights and surprising results.
- Unclear approaches and ‘no-tolerance’ policies to bribery were lacking in one in 20 Australasian organisations.
- Australasian organisations’ central focus is on employees receiving bribes rather than paying them.
- Conflicts of interests have grown significantly over the last half-decade.
There are ways to counter fraud and corruption within the workplace.
- Educate yourself and your employees in Electronic Forensics – View our Courses
- Write ‘no tolerance’ for fraud and corruption into your organisations policies and tighten security.
- Employ AFCA to Investigate and to conduct Forensics on Demand, providing a court-admissible report on our findings. Contact us with your enquires.