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Many organisations appear to be in denial about the problem. Either that or they’re fully aware but prefer to pretend it’s not happening, most likely for reputational reasons. Another reason could be that if you admit that your company has fallen victim to fraud, other fraudsters might think you’re worth a try. Whatever the motivation, reported fraud is only one fifth of the estimated total.

Look after your customer's on the least favourite Monday of the year.

For businesses that have been operating over the past year, the mad rush of getting staff set up working from home quickly changed to keeping the business operating virtually. Accessibility to the right systems was vital, supplying everyone with the appropriate tools to do the job in the same way they would have in the office. I don’t think I’d be alone in knowing quite a few stressed IT managers who have been scrambling together trying to keep things working and connected. I raise a pint to you all.

From customer service and identifying risk, it is important than ever, to know who you are dealing with

Explore the art of Credit Risk Analysis – key insights and strategies to mitigate risk in the post-pandemic financial landscape. Master Credit Management with expert guidance

Annually, thousands of businesses fall victim to fraudulent customers. Footlocker, for example, recently got swindled for 1.8 million Euros by a fake company called Ups Consultancy. This case also involved ING being fined on grounds of negligence in its due diligence of fraud and was widely reported on in the media. So, fraud not only leads to financial damage but can seriously harm reputations as well. In some cases, the damage could have been prevented by simple measures such as stringent checks.

Credit risk refers to how we assess, control and reduce the likelihood of non-payment events. How well do you know Credit Risk?