Internal Fraud Vs 3rd Party Fraud & How To Stay Secure

Crypto's rise has been an incredible chapter in humanity’s story, and it's still just getting started. 

Unfortunately, this massive new well of opportunity and possibility has also exposed the worst actors in society, and led to some of the biggest scams in history...

There are a couple of ways these cases have stolen crypto have occurred, namely internal fraud & 3rd party fraud.

Internal fraud refers to instances of fraud that occur within an organization itself, typically committed by employees or other insiders in the form of collusion. Believe it or not, this is a very common occurrence nowadays & companies are finding it very difficult to build a team they can truly trust.

On the other hand, 3rd party fraud refers to instances of fraud that are committed by external individuals or organizations that aren’t affiliated with the company. In other words, these types of fraud could arise from vendors, suppliers, or other businesses that the company has relationships with.

Both internal & 3rd party fraud can be detrimental to an organization - which is why it’s a must that all brands have measures in place to detect & prevent both types of fraud.

Compliance Officers Enforce These Measures, And Act To:

1.  Create internal policies according to laws & regulations
2.  Make sure transactions with sanctioned entities don’t occur
3.  Assess risks for internal & external fraud

As you can see there's a lot of pressure on these compliance officers.

Furthermore, if you have a corrupt compliance officer, then you are at HUGE risk as both internal AND external fraud can happen at once to your business.

We're seeing this more and more from loads of internal collusion scandals, these officers can’t always be trusted - which is why we recommend that all individuals and companies that are handling crypto get themselves protected in case of a breach. 

CryptoLock helps connect you with global experts, that are fully equipped to investigate lost crypto and win back your funds in a court of law.

We offer a long list of services to help you stay as protected as possible at all times, including: Blockchain Analytics, Cyber Forensics, Private Investigations, Asset Recovery, Wallet blacklisting & freezing, Global Litigation, Litigation Funding & much much more.

Safety in web3 is finally simple & affordable. 

Keeping your funds safe is our top priority, and our services help you save up to 90% on compliance and recovery expenses in the event of a breach. 


Contact Us Today & To Protect Your Assets 🔒