ABSTRACT
In tackling fraud, organizations must begin by discovering and assessing their baseline risks and investigating the different types of frauds to which they are vulnerable. While external threats such as cyber criminals may attract the most attention, organizations cannot ignore risks closer to home.
Prevailing over internal fraud is a strategic challenge. Organizations’ managers and executives must employ anti-fraud programs, which encompass training for all employees, especially those in high-risk areas. This can assist personnel to recognize dubious activity and areas that malicious actors could possibly manipulate. Moreover, it provides an organization to communicate its commitment to high ethical standards and procedures as well as fraud prevention.
Biometrics is smart; however, biometrics enhanced with AI tools increases the efficiency of the control system. Biometrics such as fingerprint, facial recognition and iris scans are being implemented for authenticating employees at the workplace and identifying smartphone owners. Such biometrics can be used in organizations to authorize data access for confidential data.
