Companies are increasingly facing CEO fraud and scammers posing as customers or suppliers.
However, this danger does not come exclusively from outside; internal employees can also trigger harmful effects.
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Fraud
Fraudsters are smart, but you are smarter
Corporate fraud can happen to anyone. With increasing digitalisation, tracking down these criminals is becoming increasingly difficult.
Fraud insurance is a protection that arms companies against the financial consequences of fraud.
This insurance represents a solution that meets the specific needs of associations, private and listed companies and financial institutions.
Why fraud insurance?
Trust is no guarantee
Fraud can come in many forms. Also with employees you put your trust in every day.
Internal fraud is committed by employees of a company. This can range from paying fictitious invoices into a private account to theft of office supplies.
Fraud is a broad concept
Did you know that employee fraud is the most common form of fraud?
Fraud can look like this, among other things:
- harassment
- fake e-mail
- payments of fictitious invoices to a private account
Image damage
Building your reputation takes a long time, but before you know it, it is tarnished.
Provide in your company the necessary safety nets for your business continuity. Avoid damaging the trust of your customers, partners and investors.
What does fraud insurance cover?
Fraud insurance provides a safety net for the financial consequences following various scenarios of both internal and external corporate fraud.
Some examples:
![](https://materneverzekert.be/wp-content/uploads/2023/11/Materne-verzekeringen-antwerpen.webp)
Criminal activities of your employees:
Theft of office equipment, breach of trust, embezzlement, payment of fictitious invoices to their own private account, etc.
![](https://materneverzekert.be/wp-content/uploads/2023/11/Materne-verzekeringen-antwerpen.webp)
Theft of cash or electronic money, office equipment
![](https://materneverzekert.be/wp-content/uploads/2023/11/Materne-verzekeringen-antwerpen.webp)
Identity theft or so-called CEO fraud
![](https://materneverzekert.be/wp-content/uploads/2023/11/Materne-verzekeringen-antwerpen.webp)
Vote rigging, blackmail, fake emails, etc.
Frequently asked questions
Discover the most frequently asked questions about this insurance. Over the years, we have collected this information and summarise it here. Easy, right?
What is the difference between internal and external fraud?
Internal fraud is committed by employees of the company.
External fraud is committed by people outside the company.
Believe it or not, internal fraud is more common than external fraud.
Who needs fraud insurance?
Fraud is a risk for all businesses. Fraud insurance is always relevant, regardless of company size or professional activity.
Materné puts together these policies tailored to your business. We take you through our risk analysis - a cyber insurance in fact, can also offer you protection.
How can companies prevent fraud?
Companies can take various preventive measures, such as:
- implement internal control systems
- promoting ethical behaviour
- regularly train employees on fraud prevention
Why would my employees rip me off?
Each situation is unique, the motivations for going down the criminal path are diverse.
Various problem areas can be a motivation to commit internal fraud.
Some examples:
- personal debts
- a feeling of disappointment and failure
- family problems
- social performance pressure
What could be signs of internal fraud?
These could be some alarm bells for corporate fraud:
- stock differences
- sudden resignation
- behavioural changes
- difficulty with changing procedures
Other solutions for optimal coverage
Take the uncertain as the sure thing and discover our insurance policies that perfectly match it.