Employee fraud is unsettling. The headlines splash the news far and wide:
“Credit union CEO imprisoned for embezzlement.”
“Federal investigators say bank employees opened fake accounts for sales goals.”
The cost of employee fraud is devastating for a financial institution – both financially and reputationally. It can leave accountholders distrusting their financial institution, and it can poison the whole spirit of the working environment for other employees.
The Fraud Triangle: 3 motivating elements
The Fraud Triangle explains motivations behind stealing. Don’t forget: these crimes are more than embezzlement – they are also data theft or bribery.
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