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Why It Matters

‘It’s not just what you do, but how you do it’.

Imagine turning your organisational threats into advantages. Mastering risk builds confidence in your organisation, creating customer and societal trust.

Today we’re facing some hard truths. Poor risk management has the ability to severely impact your organisational goals, funding, revenue and profit streams – this is something you cannot afford.

Yet we seemingly have an endless stream of high-profile scandals involving corruption, fraud, harassment, safeguarding failures, organisational incompetence and regulatory inadequacy that has eroded the public's trust in our business, finance, government and even sports organisations.

In an increasingly transparent and accountable world, it’s no longer enough to say you are a clean business - you have to prove it and live up to it. 

For organisations of any kind being a ‘clean’ business has never mattered more. It’s essential that our business, finance, government and public service structures operate in the way they’re supposed to. Where shareholders, stakeholder and customers can all be confident that what’s supposed to happen does happen, and what’s not supposed to happen does not happen.

This matters because, as we’re seeing all around us, when things go wrong the implications are often significant, not just for the organisation but for the economy, social prosperity and for the environment.

Human Risk Trends

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49% of global organisations have been victims of fraud and economic crimes
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Typically organisational losses due to fraud are between $100k - $1M (USD)
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52% of fraud is perpetrated from within an organisation
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Reputational damage now outstrips regulatory risk
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Organisational fraud and economic crime has increased 6% year on year

The Next 5 Years

OSACO's Top 5 Predictions

We believe that human risk factors will continue to expand and evolve globally in the coming years and that this well established direction of travel will be influenced by the changing political landscape, including the rise of populism. 

Global Trends

  1. Human risk factors continue to evolve and spread geographically
  2. Societal actions become increasingly effective versus enforced regulation
  3. Preventative compliance and zero tolerance
  4. Societies will become increasingly cashless
  5. Ethical and transparent organisations become the new normal

Organisational Trends

  1. Recognising Human risk factors
  2. Identifying the blindspots
  3. Take a proactive and preventative approach
  4. Engage and invest in your people
  5. Adopt best practice