Cell C is said to have been ripped off by 83 inflated invoices submitted by external contractors and approved by Cell C’s Executive Head of IT.
The survey also found that technology, media and telecoms (TMT) businesses suffered less internal fraud.
Whistleblowing hotlines are a good source of intelligence, but staff need to be encouraged to use them.
The purchase of an RA solution by Safaricom causes a journalist to confuse his readers and draw all the wrong conclusions.
A very rich former exec who worked at BT for over 20 years will have slightly less money to spend during his retirement.
Insurance brokerage Willis Towers Watson found that two-thirds of US cybersecurity insurance claims were prompted by the abuses or negligence of employees.
Former marketing exec Janet West told her assistant to purchase fictitious services using the assistant’s corporate credit card.
Finding fraud may be considered bad news, but it is good news that a leading African telco is leading the way by being so transparent.
Nearly USD600m will be spent on anti-fraud tools and services during 2015, but the analysis shows new technology is helping some frauds to rise whilst causing others to fall.
People do not like to talk about internal fraud. That makes them vulnerable to suffering it. Check out this great blog post from the TMF’s…