Top 10 op risks 2021: theft and fraud

Changes in working practices since Covid shift angle of criminal attack on financial institutions

Even in normal times, the risk of theft and fraud is high on the priority list for banks. In the post-Covid age, the risk has intensified as it morphs into new, dangerous forms.

Pandemic-related changes to business practices and consumer habits have opened or exacerbated at least four areas of vulnerability for banks.

Government stimulus programmes have dangled juicy morsels of cash for fraudsters to target. Banks’ own fraud detection systems have been thrown off kilter by the sudden shift to

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