Three new bank fraud schemes investigated by federal authorities showcase just how prevalent insider fraud actually is. Experts say a top fraud-prevention challenge is keeping tabs on fraud perpetrated by middle-managers and top-level executives. 27 percent of participating financial institutions suffered financial losses within the last year because of insider fraud, survey shows. Expert: “Insider fraud is still not getting the attention it needs,” says Tom Wills, an independent financial fraud consultant. Financial fraud expert: “Few employees question anything the CEO does; after all the power to fire anyone who upsets him””]
Source: https://www.cuinfosecurity.com/insider-fraud-what-banks-are-missing-a-5919