The past three years have been marked by widespread restructuring of how work gets done. As white-collar workers shift to a new normal, a whole new set of risks and compliance challenges arise. Although organizations are calling for a return to office, many are still allowing for a hybrid work model, leaving them potentially vulnerable to a heightened risk of fraud. In the last year, the Association of Certified Fraud Examiners estimates, total global losses due to fraud are nearly $5 trillion with fraud committed by an executive or employee responsible for approximately 40% of the total amount. Entities must adapt their compliance policies, processes and functions to meet a unique convergence of new and existing risks confronting their organizations.
In an article for Corporate Compliance Insights, StoneTurn Partner Chris Hoyle and Managing Director Ksenia Ioffe outline the steps organizations must take to ensure their compliance programs change with the times to remain adaptable and sustainable for the future.