IT Specialist Warns Public of Employee Fraud Jobs
A combination of proper technology and processes hand-in-hand with vigilance makes for a strong defense against employee fraud jobs. This was what Advanced Computer Software, an IT specialist for healthcare and public sector, has told the public sector organizations to deter inside fraud.
Advanced Computer Software sounded the alarm when the National Fraud Authority reported that losses in the public sector due to employee fraud jobs would amount to £25 billion annually. The IT specialist told the public sector to understand thoroughly what it would call “fraud from within,” in contrast to IT attacks coming from the outside.
The NFA seeks to dig out the operations within employee fraud jobs through a scoping study to find out how to solve the problems that may arise from them, Infosecurity noted.
PricewaterhouseCoopers reported this year that budget cuts and staff reductions were the driving forces that led employees in UK to commit inside fraud. Advanced has warned that losses in the public sector due to employee fraud jobs would be aggravated by the looming mass lay-offs.
Advanced urged the public sector to use spend analytics software to fight threats coming from these activities. The software enables an organization to single-handedly monitor its expenditure and determine possible anomalies going on, Advanced noted.
Employee fraud jobs may include “pocketing the difference between the real cost and the inflated cost” of goods and services that are paid by an organization, Advanced said. An employee may also divert a “lucrative contract to a third party accomplice,” the firm added.
Vin Murria, CEO of Advanced Computer Software, said the economic crisis would tempt employees to commit fraud although, he added, some may hesitate to do so.
Murria added that technologies like spend analytics software “provide additional layers of security” that would help an organization combat employee fraud jobs.