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Temp fraud

One, perhaps unexpected, result of the growth of temporary recruitment has been the emergence of a new kind of fraud: CEO or executive-level impersonation. This kind of fraud starts with a member of the fraudsters getting a tem- porary job within the organisation, work- ing out its systems and culture and identi- fying potential ‘weak links’ among its staff who can be subsequently exploited. Using this information, the fraudsters will then impersonate the company’s executive to authorise payments or divert funds to spurious companies or bank accounts set up by the fraudsters.

So writes Ching Liu, of the business risk consultancy Control Risks, in a recent article. Impersonation frauds are not dissimilar to the age-old problem of industrial espionage, he writes, but with a more direct financial gain for the perpetrators.

For the article in full visit the Control Risks website.


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