June 2020: Issue Nine

June 2020: Issue Nine

June 2020:

These last few months have been heartbreaking for many people. Lives have been cut short. Families have lost loved ones and have been kept apart.  This continues to be a fast-paced situation and has caught many people and organisations by surprise; many were and are still under prepared. For us, engaging with clients and colleagues is essential, especially when unmitigated circumstances which we are all now facing, are involved.

Where there is fear, there is vulnerability. Now that many of us are working remotely, fraudsters are starting to take advantage. They see no boundaries and do not discriminate. They are highly motivated, usually by financial gain. Inconceivably, they rationalise their decisions whilst the world is in lock-down, as they see this as an opportunity to thrive on our fear and vulnerability. In this Pandemic Edition, our team highlights some of the emerging trends of new or increased acts of fraudulent activity and cyber enabled crimes targeted towards our clients arising during this current crisis.

We also share with you some effective prevention measures to digitally protect yourself, how to stay aware and how to respond if you have fallen victim of fraudulent activity.

We have a team of colleagues who are dedicated in delivering excellence to help safeguard your reputation and protect you from fraud, brand infringement, regulatory risk and data breaches.

Personal Protective Equipment Fraud – a threat to procurement?

As early as the beginning of March, Facebook pledged to target and take down advertisements of personal protective equipment (PPE) from its platform, alerted by the rise in e-commerce scamming, prices inflation, and first responders’ shortages. A recent report exposed that PPE was still being sold on the platform. In fact, when an individual decided to purchase 10 masks following a Facebook ad, he had to pay $227.90 but never received the order. These were the early signs of growing fraudulent activity during the COVID-19 pandemic that transgressed borders and presented a new obstacle for law enforcement and regulatory bodies.

Will Due Diligence change in the aftermath of COVID-19?

Governments across Europe have begun to announce their strategies for ending the general lockdowns enforced across the continent. As the world tentatively rounds this very long corner, with this new phase, both businesses and communities have begun the search for the new normal. We look at how the danger of fraud has increased, and the growing need for due diligence.

COVID-19 Fraud Trends and Cyber Threats

History tells us where there is fear, anxiety and vulnerability, there is exploitation. Fraudsters thrive on vulnerability, human curiosity and error.

Since the start of 2020, COVID-19 has caused widespread disruption across the world.  Organisations have either shut down or have been forced to adopt unprecedented changes to the way they operate. Which is why we need to remain as vigilant as ever and why TenIntelligence has adopted a recent campaign to help spread awareness of just some of the emerging fraud trends and cyber enabled crimes arising during this time.

Reviewing your Business Continuity Plan has never been more prevalent than now, here are our Top 10 tips

COVID-19 forced many organisations to implement their contingency and emergency plans, yet some did not have time. Many lessons have been learnt, and quickly too.  Business continuity planning is the process of creating an action plan to minimise the impacts of interruptions to your business. Here are our top ten considerations.

Update from Dubai

From the early outset of COVID-19, the UAE government were quick to respond to engage its citizens in a phased approach to help reduce the spread of the virus. While entire families are working from home, the online demand for legitimate sanitising products and safety medical supplies has soared in the fight against this pandemic.  This growth in demand has caused a parallel risk of substandard and counterfeit medical supplies in the global market. The health and safety of UAE residents is a primary objective, with inspectors from the Consumer Protection Departments and Criminal Investigation Departments in the Emirates proactively carrying out monitoring for price hikes of legitimate products; ensuring there is sufficient stock of food and household items and for the sale of counterfeit COVID-19 related products.