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Fraud with no Boundaries.

August 26, 2019

 

Fraud with no boundaries. 


This beautiful photo was taken after hiking to the peak of Huayna Picchu; the view is looking south toward Machu Picchu and the border of Chile and Bolivia. 


I am asked quite frequently about my opinion of the landscape of fraud on an international basis, that is, to broaden the lens and look across all countries and areas of the world and identify the key patterns, trends, and climate. In considering the psychological aspect crime, and fraud, there is no doubt that one can see patterns based on areas that have weaker systems, lower standards, and more lenient and tolerant cultural norms. In looking at the core research and statistics there is no doubt that these weaker areas gain more attention from fraudsters; therefore, companies that operate internationally must consider this as part of their global counter fraud strategy. 

 

In certain areas of Asia there is a cultural barrier for companies to fight fraud which creates a weakness for these companies and an opportunity for the fraudsters to capitalize on. In other areas, such as Latin America, certain countries face difficult challenges prosecuting fraud, with this lack of legal support, fraudsters can also capitalize on this vulnerability. The message to be delivered is that those that operate on a global level must consider these extraneous factors when they develop their strategies. If we move down a tier to the domestic level, carriers that operate nationally must also look at these extraneous factors on a state by state level. There is no doubt that focusing on this aspect of fraud will assist with developing stronger and more focused strategies.

 

Stay safe! 


Dr. Fraud 
 

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