Fraud in the workplace is top-of-mind for many corporate investigators. In fact when we polled our own client base in October of 2019 as to what kind of corporate investigations they are most often seeing, Fraud rose to the top of the list with 54% of respondents saying that they Always or Often are dealing with cases of Fraud.
And rightfully so, according to the Association of Certified Fraud Examiners 2018 Report to the Nations: Global Study on Occupational Fraud and Abuse, over the past 10 years fraud has doubled and will continue to rise with the advancement of technology. With more and more organizations transitioning their storage and services to the cloud, that presents yet another advancement that not all may be ready for when it comes to being able to perform effective and comprehensive examinations.
Looking at some other statistics from the ACFE’s 2018 Report, they also paint a very real picture as to how serious of a threat fraud is:
- Globally workplace fraud costs organization over $7 billion per year
- Organizations can lose an average of 5% of its revenue to fraud
- Creation and alteration of fraudulent electronic documents are some of the most common concealment methods used by bad actors
- 1 in 5 organizations lose more than $1 million a year to fraud
As technology advances to victimize organizations, so too must technology advance to protect and safeguard organizations. Magnet AXIOM Cyber is a modern digital forensics platform tailored to meet the needs of today’s companies that have embraced technology including the latest in cloud computing, geographically distributed workforces with the shared network backbones, and use of IOT devices as a mission-critical part of their business.
Watch this video from our Forensic Consultant, Tarah Melton, as she walks you through how you can use Magnet AXIOM Cyber to investigate fraud.
Here are some other ways that our customers use Magnet AXIOM Cyber to investigate Fraud:
- Timeline – Quickly establish a timeline to pinpoint events of fraudulent activity and use them as a starting point for your investigation
- Artifacts-First Approach – AXIOM Cyber’s artifacts-first approach surfaces hidden or buried files no matter when they are saved
- Reporting – Easily produce reports and share evidence with non-technical stakeholders so they can easily see the data exactly how your forensics team sees it
- Deleted Files – Search both allocated and unallocated space and free queue (for Macs) by carving for deleted data or traces of data
- Search – Focus on the evidence that matters by quickly finding keywords and evidence of interest with advanced searches and filtering