Covid-19 also Brings a Heightened Risk of Fraud

Criminals thrive in chaos, and today’s world is undoubtedly chaotic, with supply chain operators having to work remotely, operate with fewer resources and staff and highly unpredictable business levels. New advice published by logistics and transport insurer TT Club identifies four main types of rising crime – mandate fraud, CEO fraud, cargo theft and procurement fraud – operators should be aware of.

“These are perfect circumstances for the fraudster, given that your ordinary business processes are disrupted and under strain,” it warned. “The exposures are arguably heightened further since the focus of the authorities naturally lies elsewhere – and reduced legitimate work may induce more to try their hand at fraudulent activity…”  The Loadstar

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