November 14-20th is International Fraud Awareness Week.
The term fraud encompasses actions that are meant to deceive for financial or personal gain. It’s any intentional or deliberate act to deprive another of property or money by guile, deception, or other unfair means. Fraud is not only financial. It also includes identity theft, voter fraud, healthcare fraud, and more. Fraud is pervasive in every area of human lives, and it’s becoming more sophisticated and rewarding.
With the advent of technology, fraud became more complicated for security agencies to track. Major fraud cases of the 21st century include the FIFA bribery and corruption scandal, Bernie Madoff’s Ponzi scheme, Enron scandal, and Huawei fraud case. Fraud is not only limited to individuals. Big businesses are also victims. Even the likes of Facebook and Google are not left out. As technology advances, we can expect fraud to grow. Individuals, businesses, and governments will have to put measures to minimize the risks of being defrauded.
For more information about International Fraud Week, their website is www.fraudweek.com.