The Association of Certified Fraud Examiners (ACFE) estimates that organizations lose about 5% of revenue to fraud each year. Manufacturers and distributors face particular exposure: valuable materials, tools, and finished goods move through plants, warehouses, and trucks every day, often across several locations. Fraud detection for manufacturers often starts with operating data, because fraud signals usually appear there well before they reach the financial statements.
Consider an organization with a dozen plants making similar products. Internal audit noticed that one plant’s cost of goods sold ran well above the other 11, driven by far greater use of a precious metal input. When auditors cleaned the lenses on the plant’s cameras and pulled the footage, the first image showed an employee knocking a camera away from the production line.
Hidden cameras then showed the same employee…
Enable Multi-Factor Authentication (MFA) on every sensitive account, specifically your primary email and banking apps, opting for authenticator apps over SMS to mitigate the risk of SIM-swap fraud.