FRAUD EXPANDS, BUT SHOULD SUSPICION IN ANTI-FRAUD BE RAMPED UP TOO?
March 14th, 2024
While fraud is expanding, especially in the online world, there are limits to the amount of anti-fraud checks that can be undertaken, or business and public administration would seize up entirely. Indeed, with the increasing influence of risk-based approaches in fighting crime, an optimal anti-fraud strategy is as much about choosing what to trust as what to suspect – that way resources can be focused on the real vulnerabilities.
Steve Knack, a senior economist at the World Bank, an expert in the economics of trust, has calculated that trust underpins 99.5% of ...
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