Beverley joined CIFAS in 1999 as the first appointed compliance officer extending her skills to introducing training courses for CIFAS Members. Since then she has developed CIFAS into a trusted fraud prevention training provider. Now Head of Operations Beverley has responsibility for training services, Member compliance, Consumer complaints, services for victims and development and growth of the CIFAS Staff Fraud database.
Key points of Beverley’s presentation:
The 2012 CIFAS fraud statistics reveal a 5% increase in the overall level of fraud when compared to the previous year. Nearly 250,000 confirmed frauds identified during 2012, the highest number of frauds ever recorded by CIFAS Members and over 150,000 cases had an identifiable victim.
The fraudulent use of identity details is the biggest and most perturbing fraud threat. 50% of all frauds identified during 2012 relate to the impersonation of an innocent victim, or the use of completely false identities. Facility (or Account) Takeover Fraud – where the fraudster gains access to and hijacks the running of an account rocketed by 53% compared with the previous year.
Analysis of frauds recorded on the CIFAS Staff Fraud Database reveals a significant increase in the level of fraud being committed by employees during 2012. A 43% overall increase in the number of staff frauds recorded in 2012 when compared to 2011.Attempts to obtain employment fraudulently doubled and frauds where an organisation’s staff stole customer data for personal use have also increased.
Attempts to gain benefit by deception or manipulation while in a job remained a serious threat in 2012, with a 22% increase in cases recorded. Theft of cash from a customer account or direct from the employer are the most common reason for filing an individual although attempts to facilitate fraudulent applications or the submission of false sales figures contributed toward s the rise in cases. With these individuals being dismissed from their employment, one has to ask the question – Where are they working now?
Protecting an organisation, both reputationally and financially from fraud must be a priority for everyone within this financial sector. Keeping fraudsters away by sending a strong message that you will not tolerate fraud from a customer, or a member of staff is a strong message. By sharing data on confirmed frauds you can protect yourself as well as benefit from the information of others. Data sharing works and is something all organisations should consider, for your customers and your staff.