Payroll Diversion Fraud

As an outside Cybersecurity and Forensics firm, we are always on the lookout for examples of how organizations have taken the necessary steps to protect their data from malicious actors. Recently, CEOITServices, a Cybersecurity and Forensics firm, partnered with GiaSpace, an MSP, for their client, a pharmaceutical company, in identifying payroll diversion fraud and accounting negligence.

In this case, the client had experienced a significant loss of funds due to fraudulent activity and needed help in identifying the source of the issue. After conducting a thorough investigation, CEOITServices was able to determine that the payroll diversion fraud was being perpetrated by an employee who had access to the company's financial accounts. Additionally, they uncovered evidence of accounting negligence, which had been allowing the fraud to go undetected for over a year.

Using our expertise in Cybersecurity and Forensics, CEOITServices was able to provide a detailed report of their findings, as well as recommendations on how to prevent such incidents from occurring in the future. This enabled GiaSpace to take the necessary steps to protect their client's data and funds, while also allowing them to identify the responsible parties and take appropriate action.

By taking the right steps to protect their clients' data and funds, CEOITServices along side of GiaSpace have shown that they are committed to providing the highest level of security and accountability for their customers. This is an example of the importance of taking proactive steps to ensure the safety of your data, and we applaud them for their commitment to security.