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Aite: Time for Robust Battle Plan Against Internal Fraud

Not all fraud perpetrators strike from afar. Some are employees looking to rip off their own employers and customers while on the clock.

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Not all fraud perpetrators strike from afar. Some are employees looking to rip off their own employers and customers while on the clock.

Financial institutions are largely susceptible to internal fraud, especially during a recession, experts say. And because of legacy system constraints, the actual severity of internal fraud is likely worse than what financial institutions publicize, according to independent research and advisory firm Aite Group in Boston.

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