Contributing to our position as Australia’s premium Financial Risk Management resource, our management globally explores and surveys relevant and valuable articles published by respected professionals, academics and organisation. The articles offered here are suggested reading for any Business Owner and Financial Risk Management professional.
10 Sep 2019
The author Damien Battersby has listed four basic reasons why email scams are often successful. They are because of:
(1) our willingness to trust brands;
(2) they exploit our emotions;
(3) the focus on the exploitation of our trust;
(4) they are structured in a way to distract us of their intention.
Mr Battersby also suggests that if you remain vigilant however, you can usually spot the flaws in almost every email scam.
If you have not thought about reviewing your understanding of how and why emails scams are so successful, this article may be a useful reminder.
21 Aug 2019
Daniel Effron has written an interesting article which provides a number of strategies which can help reduce the opportunities for good people to do bad things in the business environment.
The introduction for this article sums up what many of us think when we see that good people have been caught out doing bad things.
"Why do good people do bad things? When we know someone to be a fine and moral person in other respects, we are flabbergasted when they get caught for dodging their taxes, fiddling their expenses, or abusing their positions of power."
There is much to learn from this article. I suggest it may be of value to read this article if you would like reduce the opportunity of good people doing bad things in your business.
20 May 2019
Although the author's article is based on US experiences and dictates, there is a lot of value in this article when considering effective compliance programs for your business.
This article provides guideline that all businesses can use to implement an effective compliance program which is effective, and suitable for their business. The people in your who will most benefit from a compliance program, are business owners and managers, directors, risk management professionals and middle management.
If you are unsure how a compliance and compliance program might add value to your business, reading this article may be helpful.
26 Feb 2019
Rutger’s School of Criminal Justice professors Marcus Felson and Ronald V. Clarke developed "Ten Principles of Opportunity and Crime" which describes how opportunities, or vulnerabilities, are the root cause of crime.
If you take the 10 principles and re-apply them to your business, it is another method to help you reconsider the risks to your business from another perspective.
In order to manage risks to our business, we need to understand these risks from different perspectives and keep reviewing the risks periodically. This article may be of value if you have not thought about the risks to your business lately. When you are managing risk, it also means you are working on your business and not just in it.
9 Oct 2018
Cheryl Batgol has written on the value of a positive culture in the public sector and how a positive culture helps in its fight against fraud. The author also believes a positive culture assists to reduce decisions which could reflect badly on the public sector organisation and lead to negative consequences for the organisation in the future.
In addition, the author has put forward the proposition that organisations with positive organisational cultures are more focussed on long term thinking and strategy. In these environments, not only is innovation valued, people and relationships are also seen as vital elements in the success of the organisation.
The issues raised in this article for a positive organisation culture, are focused on the public sector organisation. The fact is, a positive culture also applies for a business. As is well documented, one of the key aspects of why fraud is possible in a business, is because of poor organisational culture.
Therefore, this article may be of value to those business people who wish to work towards creating a positive culture in their business to reduce fraud and poor decision making.
4 Sep 2018
We are regularly advised to take care of the information we post on the internet or when we deal with others via email as cyber-crime is one of the leading forms of criminal behaviour today. As a result, we can tend to forget the more traditional forms of information where sensitive information can be accessed.
The theme of this article is to remind us that our personal (and business) information can be accessed from many sources and we need to take care of this information.
We can obtain an idea of the information contained in this article from the article's summary points, which also includes the perspective of one victim.
If you have not thought about the protection of your personal information and business information lately, this article may be of value in helping you review how this information may be protected from being used for fraudulent purposes.
26 May 2018
Roy Snell discusses the actions of ethicists who advocate that compliance programs are not worth the effort when it comes to managing bad and unethical behaviour.
He suggests the critics of compliance programs are doing a great deal of damage with their criticism of organisations which are developing a culture of compliance and avoidance of bad behaviour. Roy Snell believes their argument about compliance programs is patently false. Whilst he does understand their thoughts about the importance of ethics, he does not believe their efforts to discredit compliance programs is helpful in the fight against bad behaviour.
It would seem Mr Snell believes that ethicists are putting their vested interests ahead of the common good by advancing the theory that compliance programs are not worth the effort and a focus solely on ethics would be more beneficial.
You may find value in reading this article from several perspectives, one of which is; compliance programs do have a valid place in the fight against bad and unethical behaviour.
9 Jan 2018
Jim Cook's article is a timely reminder of one of the main issues facing all business people and their management teams today, cybercrime. With the increasing use of technology in the business environment, it is an issue that will not go away.
Mr Cook's article provides a snapshot of how hackers learn their trade, how they look for targets and on what you can do the help protect your business.
This article could be of value to those people who wish to know more or are yet to adequately understand the issues involved with cybercrime. As always, you should consult a suitably qualified professional if further assistance is sought.
2 Oct 2017
We live and work in a world that is predominately promoting positive attitudes and thinking about the future. In doing so, we sometimes forget about the lessons of the past and the fact that being risk aware, has its place in business. There are many risks associated with using our technology devices, and with technology in general. All too often, in our enthusiasm to use and adept our business practices to the latest technology, the associated risks are minimised.
David Higgins article therefore, is a timely reminder that our technology and the associated devices must be used and maintained carefully. Irrespective of whether you are risk aware or not, I suggest this article maybe worth a read as a reminder of how technology tools need to be maintained in good working order to protect your business.
16 Aug 2017
Internal crime is one of the worst types of crimes because it involves the breaking of trust and a betrayal of the people who have provide the employee who commits these crimes, with a job.
Lawyers Weekly and InfoTrack surveyed 216 Australian legal professionals to better understand the perceived impact of internal crime as well as the processes law firms have put in place to protect their business.
Notwithstanding the report involved the legal fraternity, this article is a useful resource for all business owners and their management teams in helping to combat internal crime. If your business has employees, the chances that one of these employees may commit a crime against the business. This potential for such a situation cannot be dismissed lightly, no matter how difficult that thought maybe.
If you have not thought about the issues associated with internal crime or not reviewed your own organisation's procedures lately, this article is worth a read.
24 Jul 2017
Dedicated and professional account employees are your business's cashflow guardians. The value these dedicated employees and equipped with the right tools and who are committed to the success of your business, cannot be over emphasised. After all, money lost to fraudulent behaviour can rarely be recovered,
Fraudsters and their use of technology are one of the greatest threats against your business today. One of the best tools for any business in combating fraudsters and their use of technology is with dedicated employees. Dedicated employees backed by strong operational disciplines and procedures are best forms of defence from fraudsters.
In this article, we see just how effectively fraudsters have been in targeting businesses in Germany. Make no mistake, this type of fraud is happening to businesses in every country.
If you have not stress-tested the viability and strength of your business's cash protection systems lately, this article may be of value in helping you understand why you need to test your business defences.
18 Jul 2016
Irrespective of whether it is in our personal lives or in business, keeping secrets is increasingly difficult. In this article, Patrick Bartley sheds light on how racing stewards in Victoria are using technology to identify potential illegal behaviour.
The use of technology is increasingly of help for the guardians who are in charge of looking after the wellbeing of our society as they track down the perpetrators of illegal and damaging behaviour.
In business, with increasing use of technology and in particular, Cloud based accounting and business systems, keeping business secrets will be increasingly difficult.
The value in reading this article is that is yet another example on how the power of technology can be used to identify unethical and criminal behaviour which may otherwise remain hidden.
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