Understanding Identity Risk Management

Organizations take on risk when they do not know their customers, employees and vendors. According to the Association of Certified Fraud Examiners 2006 Report to the Nation on Occupational Fraud and Abuse, "U.S. organizations lose an estimated 5 percent of annual revenues to fraud." Fraud goes beyond a quantitative dollar amount. Fraud can do additional damage because of the potential regulatory sanctions and loss of trust and reputation in the marketplace.