Fraud vigilance should be bolstered with the aid of technology
It’s time for accountants to place less emphasis on “gut feeling” and let digital tools guide judgments in the fight against fraud.
Image: Anueing/Shutterstock
Traditionally, accountants have prided themselves on building client relationships based on mutual trust and an informal assessment of character. They have often satisfied themselves that a new client is reputable partly based on the recommendation of another client or their own "gut feeling" or instinct.
However, it’s not unknown for those clients who seemed decent types and who passed paper-based checks to turn out to be involved in fraud or other criminal activity. White collar criminals are harder to spot than the cartoon ones who wear stripey jumpers and carry bags of swag.
In an age of increasing complexity and with developing c
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