Top 10 op risks: deepfakes drive rise in fraud fears

External fraud re-enters top 10 as artificial intelligence provides new tools for criminals

The American criminologist Donald Cressey came up with a triangle framework in the 1970s to explain the occurrence of fraud: pressure; opportunity; and rationalisation. Higher inflation and interest rates clearly create the macroeconomic pressures – and perhaps the rationalisation – to justify criminality, but technology is the factor that causes risk managers to worry about new opportunities for fraud.

For the first time in two years, external fraud re-entered the Top 10 Op Risks in 2024

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