At financial institutions, insider threats and internal fraud are serious issues. Globally, the Association of Certified Fraud Examiners estimates that fraud costs organizations about 5% of their annual revenue , amounting to a staggering $5 trillion per year . Insider fraud is believed to account for up to 40% of these costs around $2 trillion annually . The average cost per incident is $412,000 , making this type of fraud not only widespread but also extremely damaging. Insider fraud is defined as " the deliberate misuse or misappropriation of the employing organization’s resources or assets for personal benefit. " It’s committed by a malicious insider, such as a current or former employee, contractor, or partner, who uses their authorized access to compromise sensitive systems or data. These actions pose serious risks to confidentiality, integrity, and trust. Financial institutions are especially vulnerable due to ...
A lot has been written about financial wellbeing. On the one hand, we have financial coaches and influencers who share practical tips on how to improve it. On the other, banks and Fintechs are positioning themselves as partners in boosting financial wellbeing, offering savings tools and educational programs. Increasingly, Fintechs are also targeting employers, arguing that financially stressed employees are more likely to be absent, less engaged, and less motivated. As a result, solutions like salary advance platforms (e.g. Scudi) and HR-focused financial wellbeing platforms (e.g. Warren) are gaining traction. Yet, the impact of financial stress and lack of education is substantial. Even in a well-developed country like Belgium, the numbers are staggering: In 2025, only 46% of Belgian households are considered financially healthy or resilient. That means 54% are still vulnerable or unhealthy. Just 32% of Belgians have sufficient financial literacy. Over 60% of Belgian families st...