Daniel Rabanales, Marketing—
Corruption and fraud come in many forms, but the results are always damaging and negatively affect all aspects of a business.
The perspective of a leader in the fight
According to the world-leader in risk management and corporate investigation, Kroll Associates, business prospects in Colombia seem to be in a poor state in spite of the prevention tactics that have been taken to combat corruption.
According to Recadero Romero, Regional Manager of Kroll, 63 of 100 businesses in Colombia suffered losses due to questions of fraud and corruption in 2013, a 10 percent increase when compared with 2012.
Romero points out the lack of improving control measures as an impediment to reducing and eliminating fraud and corruption. Romero also affirms that almost 90 percent of businesses in Colombia are unprotected against these alarming problems.
Romero explains that Kroll’s success came from planning investigations and standardizing processes that allowed them to handle these kinds of situations in different countries.
It’s Time to Eliminate Fraud Opportunities
Since employees are responsible for a large part of fraud in business, Romero clarifies that it’s more than just a cultural phenomenon—fraud is related with the availability of opportunities in a business.
Therefore, Romero suggests that a business’ focus should be in eliminating opportunities to commit fraud. This proposal offers a challenge for Colombian executives in charge of security and transparency for their businesses.
A Possible Solution
An innovative solution that can help is EyeDetect™, a new development in lie detection with 85 percent accuracy. This technological advance offers a solution non-intrusive and only requires that an individual sit in front of a computer and answers questions while having her or his eye behavior monitored.
If used for risk-management and fraud, EyeDetect can detect employees involved in corrupt practices and ensure the integrity of a company. The complexity and difficulty of fraud and corruption call for a solution of the same caliber to establish trust and transparency once again.