According to the Association of Certified Fraud Examiners, U.S. companies lose more than $440 billion to counterfeiting and document fraud every year. Advancements in fraud technique and the proliferation of sophisticated counterfeiting technology continue to open up even more opportunities for criminal behavior. The negative consequences of these actions – damaged reputations, lost revenue and regulatory violations - can easily exceed pure monetary damages.
Printed materials of all shapes and sizes are at risk: from checks and identification cards, to real estate titles, prescriptions and certificates of authenticity. Though some governmental attention is paid to the problem through regulatory measures, most law enforcement resources are concentrated on violent crime and homeland security. Individual companies and organizations (even including certain governmental divisions) must assume the challenge of reducing fraud and its associated losses themselves.
Taking steps to prevent and protect the enterprise against are crucial to a comprehensive approach to Enterprise Risk Management and Information Risk Management, to avoid the potentially severe consequences.
The dual principles of prevention and protection must be enforced continuously, if companies are to secure documents from both current threats and future abuse.