Fintech Frauds Amidst Lockdown: Reality Check and Techniques to Prevent, Detect and Investigate the Impact on Indian Corporate World

Abstract

Fraud is considered as wrongful or criminal deception intended to result in financial or personal gain. During lockdown we came across many ways these fraudsters tried to dupe the organizations and civilians individually. Detecting and investigating signs of fraudulent activity shall never be overestimated or taken too superficially. It is the responsibility of an Employer to know the measures of preventing corporate frauds and not let someone take benefit of it. Employers must keep in mind the impact on the corporate reputation and internal environment of putting the wrong person under investigation. Following are some real cases taken which provide in-depth analysis of how these frauds took place during the lockdown situation continued by the solution for the same and also gives highlight and measures for prevention, detection, and investigation of Frauds in Corporate and Cyber Environment.