RISK MANAGEMENT
The process of recognizing, assessing, controlling, and responding to threats to an organization’s capital and earnings that occur during a business’s life cycle is known as risk management. According to ISO 31000, risk management process is a “systematic application of management policies, procedures and practices to the tasks of communication, consultation, establishing the context, identifying, analyzing, […]
POOR INTERNAL CONTROLS
Internal controls are the systems, regulations, and procedures put in place by a firm or organization to assure the accuracy of financial and accounting data, encourage accountability, and prevent fraud. These controls can assist enhance operational efficiency by enhancing financial reporting accuracy and timeliness. The Committee of Sponsoring Organization of the Treadway Commission (COSO) model […]
Juice Jacking: Ways devices can be kept secure when traveling
Is charging a gadget at a public charging station safe? It is not safe, to say the least. Juice jacking is one of the many diverse techniques that fraudsters have devised to commit fraud. You charge your device at a public charging station, such as an airport, train station, or hotel lobbies, while a fraudster […]
FRAUD IN VIRTUAL CURRENCIES
Virtual currencies vary from traditional currencies like the Nigerian naira in that they are only available in electronic form. This translates to when you buy a virtual currency, you do not receive the paper format or coin that you can hold in your hands. Instead, you receive these in electronic units with a figure attached […]
BUSINESS EMAIL COMPROMISE
Business Email Compromise (BEC) is also known as email account compromise, man-in the-email attack. Not only is this type of fraud one of the most financially damaging online crimes, but it is also costlier than other fraud attacks combined. It is becoming more targeted, there are fewer victims, but the losses are greater. In BEC […]
OVERVIEW OF WHAT DUE DILIGENCE AND BACKGROUND CHECKING PROCESS IS
What is Due Diligence Background Checks – This simply means checking things or conducting comprehensive investigations on companies and individuals. This could be in various areas such as when: Buying a property – here you check titles of the property and verify information in the contract Buying a business – it is important to do […]