Occupational Fraud and Scams: What the Office of the CFO Needs to Know

Occupational Fraud and Scams: What the Office of the CFO Needs to Know

This IDC Perspective explores occupational fraud. We cover the different schemes, prevention, and technology enhancements that can help in prevention and detection. Occupational fraud is a significant area of concern for the office of the CFO, given its financial impact to any company. "Occupational fraud is a common occurrence that can cost businesses millions of dollars. The CFOs need to understand the topic but also ensure there are internal controls in place, invest in technology to monitor activity, and conduct regular audits to uncover anomalies and possible fraud," said Heather Herbst, research director, Worldwide Office of the CFO at IDC. "It is less costly to prevent it and detect it early, so remedies can be made, and the organization can continue with business as usual."

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