COVID-19 created an unprecedented crisis for most businesses, and fraudsters have been quick to identify opportunities as companies adapt to new processes.
With more employees working remotely, new infiltration opportunities have also become available to the tech-savvy fraudster, pressuring businesses to tighten up security controls in order to combat cybercrime. Generally, higher stress levels have also made people more vulnerable to sophisticated cyber attacks such as phishing and business impersonation.
In this special report from IBA, Dennis Toomey of BAE Systems Applied Intelligence explores the merging trend and increasing number of pandemic-related insurance fraud in 2021. Businesses must properly formulate a structured approach to identify, reduce, and remediate fraud risks as part of their COVID-19 response so they can protect their business, people, customers and other stakeholders.
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