How Does CFE Exam Help Banking Professionals Mitigate Risks of Insider Fraud?

An insider threat is the result of either hostile employee behavior, nefarious motives, hatred towards the organization, or an employee who is unaware of the security policies of an organization and unintentionally exposes the company to risks. Insider threat security necessitates a highly strategic strategy due to the variety of methods employed, the intricacy of attacks, and the involvement of either unintentional or intentional ones, which is difficult to identify. 

Irrespective of the insider risk, the ramifications of an insider attack are difficult to detect at first, and gauge its spread, not to mention the amount of damage it causes an organization in terms of finances, confidential data as well reputational loss. 

However, professionals with CFE certification are trained to identify insider threats and prevent them from occurring. Here is how a certified fraud examiner upholds organizational integrity against insider threats-

• Employee training: The largest asset of the firm is its task force, which, with the correct training, has the potential to become its greatest asset. Employees need to be taught to secure every detail that could cause even the smallest data leak.
• Updated security system: Cybercriminals disseminate bugs that consume obsolete networks and systems. Updating them improves compatibility and adds more features, which enhances the security and stability of your system, enhances user experience and protects you from system espionage.
• Response task force: Certified fraud examiners make sure your organization has a response strategy and team in place in addition to giving your system and network a security blanket. The task force is responsible for identifying security breaches and mitigating their impact.
• Contingency Plan and Risk Assessment: Certified fraud examiners ensure that the organization takes proactive measures in identifying insider data breaches and conducts risk assessments to prevent them in the future. An organization will gain a better understanding of system vulnerabilities and how to address them with the help of a risk assessment.