• How the right technology helps to tackle fraud

How the right technology helps to tackle fraud

The commercial and reputational consequences of fraud are huge. And it’s a growing problem. However, there are many things that professional services firms can do to mitigate some of the risks.

Here, we’ll cover a few of them:

Prime targets

Fraud’s a major issue for any type of company. But it’s particularly true in the financial and legal sectors. You hold a wealth of valuable data. And that makes you prime targets for criminals.

According to the Institute of Export and International Trade, the UK financial services generated a £68bn trade surplus in 2017. Meanwhile, the Bar Council suggests legal services accounted for fees of around £30.9bn in 2016. That’s a lot of revenue. And a lot of temptation. 

Take for instance, the offshore law firms Mossack Fonseca and Appleby. They were hacked in 2016 and 2017 respectively, resulting in the leaks of the Panama Papers and Paradise Papers. Or DLA Piper, which was the victim of a ransomware attack in June 2017. Not having access to your own data can severely disrupt operations. 

So, what can you and your colleagues in the professional services industry do to protect yourselves against unauthorised access to your data?

 

Banking on the Surface Pro

Technology plays a major role in keeping your firm safe. But it’s not the only protection. You also need rigorous cybersecurity checks and balances to make sure that systems remain watertight. Let’s see how it could work.

Tom works in a local branch for a company in the finance services sector. As he spends most of the day hot-desking and meeting customers, he uses the Microsoft Surface Go running Microsoft 365. It’s ideal for avoiding fraud in the office.

It’s 9 am and Tom’s about to start yet another busy day. With Windows Hello, he logs in using biometric authentication. As far as Tom’s concerned, that’s a big advantage. It offers enterprise-grade security – but he doesn’t need to remember long, complicated passwords. Or write them down.

As he meets with customers, Tom’s keen to make sure they get the support they need. At the same time, he knows he needs to keep their data confidential and secure. Surface Go runs a range of Windows 10 security features and the enterprise-grade TPM chip. So, he’s able to safeguard the personally identifiable information (PII) of his customers. 

Finally, when a customer’s ready to decide on a product, Tom can take a “client” signature on the spot with the Surface Pen and electronic signature integration. That way, he’s got proof that the client’s authorised him to act.

 

A legal perspective

Next, let’s meet a solicitor, Aidan. He’s been working at his law firm for several years and is always on the go. He splits his days between the office, court, prison and issuing briefs.

This means Aidan needs to make sure he’s protected from hacking, unauthorised access to files, and other kinds of fraud. And, his work is highly confidential. He needs to save data securely – wherever he happens to be. 

One minute, he could be in the prison capturing case or evidence notes on his Microsoft Surface Pro 7. Or, in the office getting documents electronically signed with the Surface Pen. And, wherever he is, he stores those documents securely in the cloud.

The next minute, he’s in court using his Surface Pro 7 for electronic disclosure. Then, he’s off to work with colleagues and barristers in chambers. There, he uses Teams, knowing that their conversations are secure, private and compliant. He transfers his data securely. His Surface Pro 7 includes Trusted Protection Module (TPM) chips. This means it provides hardware-based, security-related functions. He also uses Windows 10 security features; these include Windows 10 Device Encryption and Windows Defender.

These simple scenarios highlight why Surface Pro is the perfect fit for professional services firms. It’s an important part of the cybersecurity mix to ensure that employees have the digital tools they need to work safely and securely. And to help avoid fraud.

 

See how legal firm Howell Jones LLP relies on Microsoft Surface to stay productive

 

Discover out what Forrester found out about the Surface for Business family, and the real impact in professional service businesses:
Fill in the form on the top right to download the report now. 



 

Free whitepaper: Look beneath the Surface

Discover the real impact of the right tech in a professional services context

 Security code
 

Recent Articles