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COVID-19 & Fraud Risk
Managing & responding in times of crisis
Companies across various industries are experiencing increased operational and financial pressure due to the COVID-19 pandemic. These pressures create a heightened level of economic risks such as:
- Significant reduction in trading
- Loss in revenue
- Loss in profits
- Loss in market demand
- Going concern
- Liquidation and total collapse.
These economic risks may lead to increased motivation or justification to commit fraud, through manipulation of financial results, misrepresentation of facts, misappropriation of assets and other fraud schemes.