How financial crime can be minimized?

Answer 1

Financial crime can be minimized by security measures. Any organization handling sums of money needs to have professional advice on its security and to have this advice reviewed regularly as technology advances, thus providing criminals with more ways to steal money and honest people with more ways to keep money from being stolen.

Most financial crime involves employees, often highly trusted workers, who are in the perfect position to learn the weaknesses of the security systems used by their organization, so internal security is vital for any business or other organization.

There is no such thing as a totally honest person: we are all susceptible to temptation at one level or another. There's no need to become paranoid and go around suspecting everyone, just the essential need not to make it too easy to steal.

Financial crime can begin with a couple of dollars - the first and hardest theft for a person who considers themselves honest - and progress until millions and even billions of dollars are lost to people who've no real conscience left.

Security must be in the hands of professionals; it's too easy for non-professionals in the field to miss what later appear to be obvious weaknesses in their system.

The popular picture of theft, that of robbers breaking in and stealing, or ambushing vehicles, or mugging the unwary, is much less common than other kinds of theft: theft, like violence, is much more likely to occur at close quarters and involve people known to you and perhaps well-trusted.

It should be remembered by everyone that badly-treated staff, customers, family and friends become far more likely to steal from the person or organization they feel has treated them badly or let them down. So, while treating others well should be an attitude that goes without saying, good relations must also be seen an essential part of security. It's just plain stupid to give others a reason to want to get back at you, and quite unneccessary.