It’s always interesting reading about larger scale fraud like this one recently with the Bank of Queensland. You wonder in cases like this, had the accused pulled the pin earlier, would he ever have gotten caught? You wonder how many do get away with it – stopping before obvious alarm bells start to ring?
There’s no generic solution/strategy for fraud detection to critique, as each organisation addresses it’s own internal security and risk management practices differently, but there is a scary pattern of misguided thought in regards to securing systems and actually defending against, and detecting fraud. It’s “security” by definition but are many blinkered in regards to what the full definition of “security” encompasses? I think so.
Many in the security industry are focussed to the point of obsession on only vulnerabilities and technical attack vectors (new attack type X, new attack type Y – all generally old stuff just re-invented in different ways but promoted as new big things by many in the industry). It’s such a narrow focused view that stops at the technical exploit. That’s not where the role of a security professional should stop. Read on: