The Importance of Fraud Management
Join BearingPoint Business Advisor Delia Klause to explore the benefits of fraud management and why discovering fraudulent activity within your organization is so critical. Fraud is an ever-increasing problem in the financial services field, and the growth of fraudulent behavior just shows how difficult it sometimes is to prevent this type of activity. With fraud management, especially in the insurance industry, you have the advantage of early detection.
Our fraud management solutions assist organizations with ways to uncover fraudulent claims, how to educate employees of the possible risks and best practices around fraud management in the workplace. Many companies are utilizing internal and external workshops to educate their employees, while others are outlining certain processes and procedures. There are also many electronic fraud detection tools that companies are beginning to use to deal with this type of unlawful behavior.
The role of fraud management has evolved greatly over the years. Twenty years ago, there were five fraud investigators in the market, now there are more than 150. Fraud management is mainly organized in a traditional versus non-traditional method. To identify which is more appropriate for your organization, our experts can identify the problem and offer an appropriate solution. With the rise in fraudulent behavior, expect fraud management to be a top priority in financial services over the next few years.