Corporate fraud is a persistent and growing threat in Australia.
Liberty’s Commercial Crime policy is designed to protect companies from financial loss due to theft or fraud by employees or third parties. It offers a broad level of cover that businesses can rely on.
Examples of Insider fraud could include procurement fraud, payroll fraud, cash theft and property or investment theft to name a few.
While there are several types of external fraud that can impact a business, due to modern banking controls they are less common. Social Engineering Fraud however has established itself as a significant threat to businesses and it occurs when a fraudster adopts the identity of a supplier or employee and requests funds to be transferred to a particular account.
At a glance: