Crisis Fraud Risk Management

By John Thackeray

A featured article of our July 2020 edition of PRMIA's Intelligent Risk quarterly newsletter


The  crisis  fraud  risk  management  is  born  out  of  a  highly  volatile  atmosphere  which  can  upend  and  overwhelm even the most structured fraud risk management program. This volatile atmosphere is here with us today and comes in the form of COVID-19. COVID-19 represents the single greatest challenge to  fraud  risk  management  (“FRM”)  because  pandemics  and  their  effects  were  never  identified  as  a  driving force in the escalation of both existing and new types of emerging fraud. Moreover, business continuity  plans  had  an  isolated  focus  on  operations  rather  than  people  and  operations,  with  much  shorter time frames envisaged.


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About the Intelligent Risk

Intelligent Risk is PRMIA's quarterly publication, bringing all PRMIA members free access to knowledge and information about risk management for financial institutions as well as current information on PRMIA chapters, committees, academic partners, news and events.

Individual articles from each edition are published under our members only Risk Library resources section. PRMIA is sharing select articles from the April 2020 edition with the public. Get more articles like this by joining PRMIA today.

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