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72 When CFO and CIO Collude: How Weak Controls Drained 0.5% of Turnover

The Fintech Times
Olivier Cornet @ The Fintech Times 1 place · today 05:07 EDT

When CFO and CIO Collude: How Weak Controls Drained 0.5% of Turnover

Internal collusion fraud cost 0.5% of turnover, as weak controls let CFO–CIO manipulation, fake invoices and expense reclassification go undetected. Continuous monitoring and stronger controls could have prevented it.

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