Discover our industry leading expertise
Industry Insights
Feeling the Risk in an Oracle Licensing Audit
How much risk do you want to take on an Oracle License Audit? Oracle identifies each customer’s pricing model by looking at any exist
Introducing UXPlus Risk Alert (NEW SOLUTION!) & Discover the Powerful Audit Capabilities > Watch our Latest Webinar!
Are you ready to stop an inaccurate or criminal transaction? Whether you’re a Risk Manager, Business Standards or Compliance Officer or perhaps even a Director, Chief Financial Officer...
Are you ready to stop an inaccurate or criminal transaction? Whether you’re a Risk Manager, Business Standards or Compliance Officer or perhaps even a Director, Chief Financial Officer or small business owner, the issues of internal or occupational fraud will be familiar to you. The ‘people’ aspect of a business is arguably the most important contributor to success. Having said that, it should come as no surprise that the ‘people’ you trust the most in your organisation can also turn out to be your worst nightmare when they act against the business's interests – especially where there are limited or non-existent internal controls in place.
According to the ACFE’s 2020 occupational fraud report, they analysed 2,504 cases and the sum of their losses due to fraudulent activity exceeded $3.6 billion – that means approximately 5% of each organization’s total annual revenue was lost. Asset misappropriation accounted for the largest percentage of cases at 86% with the highest risk being billing schemes and check and payment tampering. When it comes to industry exposure, it would be safe to assume that no sector is immune. However, it was identified that the most cases reported came from banking, finance, and manufacturing industries.
Although it was reported that the above industries faced a higher risk of internal fraud occurring, it’s important to remember that these represent only the cases that were detected and did not go unnoticed. This is because the organizations in question already had established preventative measures in place that helped them to monitor and identify fraudulent activity. Most public organisations will have these in place at some level to ensure legal compliance with regulatory acts. For example, Sarbanes-Oxley (SOX) in the US was introduced to protect investors by creating a legal framework that governed the accuracy and reliability of financial disclosures. While private organizations may not be held to the same laws as public ones, they are still at risk of exposure to internal fraud. Indeed, they shouldn’t ignore the consequences as it can cost them money, reputation and even lead to criminal charges in the worst-case scenario.
Nevertheless, preventative measures can differ depending on the approach. Some organizations will attempt to shape company culture through training and awareness of fraud while others often rely on strong internal control structures including internal auditors and risk controllers to ensure compliant processes are maintained. Having said that, most organizations will agree that a key foundation of any internal control environment is the concept of Segregation of Duties (SoD) whereby no individual should have access to execute transactions across your business without appropriate controls in place. For example, one individual would not be able to create a supplier, issue an invoice, and create a payment freely without any internal controls.
When it comes to ERP systems, fraud is an ever-growing threat and minimizing risk is the result of two things: Appropriate controls that restrict access to prevent risk and robust reporting processes to identify weaknesses and possible exposure. Put simply, how do you implement something like SoD without disrupting your business and taking up valuable resources? In JD Edwards it can be difficult to navigate security and compliance complexities given the multiple programs, menus, users, and role permissions. Simplifying your work, achieving best-practice, implementing compliant processes, and ensuring your JD Edwards environment is secure and fraud-proof is achievable with the tools and expertise of ALLOut Security. To find out more about ALLOut E1 Security solutions, take a look at our products now.
Join the ALLOut Security team at the Venetian in Las Vegas, for what’s set to be yet another engaging conference!
View EventLive Webinar - April 8, 1:00 PM (AEST). Session Information - APAC Webinar Excessive access in JD Edwards (JDE) poses great security, compliance, and operational risks, while increasing exposure to human error. Join our webinar to discover how ALLOut’s & Steltix’s latest solutions can streamline access management, ensure compliance and minimise threats. Integrate automation and key processes to strengthen your Identity Governance & Administration (IGA) workflow:
Register NowLive Webinar - April 8, 1:00 PM (ET). | 10:00 AM (PT). Session Information - EMEA+AMERICAS Webinar Excessive access in JD Edwards (JDE) poses great security, compliance, and operational risks, while increasing exposure to human error. Join our webinar to discover how ALLOut’s & Steltix’s latest solutions can streamline access management, ensure compliance and minimise threats. Integrate automation and key processes to strengthen your Identity Governance & Administration (IGA) workflow:
Register NowSave time, enhance risk visibility and be audit-ready with ALLOut Security for JD Edwards.
We use cookies to give you the best online experience. By agreeing you accept the use of cookies in accordance with our cookie policy. You can always revoke your consent by clicking on the icon at the bottom left of the screen.
When you visit any web site, it may store or retrieve information on your browser, mostly in the form of cookies. Control your personal Cookie Services here.
Cookie name | Default expiration time | Description |
---|---|---|
_ga | 2 years | Used to distinguish users. |
_gid | 24 hours | Used to distinguish users. |
_ga_<container-id> | 2 years | Used to persist session state. |
_gac_gb_<container-id> | 90 days | Contains campaign related information. If you have linked your Google Analytics and Google Ads accounts, Google Ads website conversion tags will read this cookie unless you opt-out. Learn more. |
visitor_id<accountid> | The visitor cookie includes a unique visitor ID and the unique identifier for your account. For example, the cookie name visitor_id12345 stores the visitor ID 1010101010. The account identifier, 12345, makes sure that the visitor is tracked on the correct Pardot account. The visitor value is the visitor_id in your Pardot account. This cookie is set for visitors by the Pardot tracking code. |
pi_opt_in<accountid> | If Tracking Opt-in preferences is enabled, the pi_opt_in cookie is set with a true or false value when the visitor opts in or out of tracking. If a visitor opts in, the value is set to true , and the visitor is cookied and tracked. If the visitor opts out or ignores the opt-in banner, the opt-in cookie value is set to false . The visitor cookie is disabled, and the visitor is not tracked. |
visitor_id<accountid>-hash | The visitor hash cookie contains the account ID and stores a unique hash. For example, the cookie name visitor_id12345-hash stores the hash “855c3697d9979e78ac404c4ba2c66533”, and the account ID is 12345. This cookie is a security measure to make sure that a malicious user can’t fake a visitor from Pardot and access corresponding prospect information. |
lpv<accountid> | This LPV cookie is set to keep Pardot from tracking multiple page views on a single asset over a 30-minute session. For example, if a visitor reloads a landing page several times over a 30-minute period, this cookie keeps each reload from being tracked as a page view. |
pardot | A session cookie named pardot is set in your browser while you’re logged in to Pardot as a user or when a visitor accesses a form, landing page, or page with Pardot tracking code. The cookie denotes an active session and isn’t used for tracking. |
Cookie name | Default expiration time | Description |
---|---|---|
_ga | 2 years | Used to distinguish users. |
_gid | 24 hours | Used to distinguish users. |
_ga_<container-id> | 2 years | Used to persist session state. |
_gac_gb_<container-id> | 90 days | Contains campaign related information. If you have linked your Google Analytics and Google Ads accounts, Google Ads website conversion tags will read this cookie unless you opt-out. Learn more. |
visitor_id<accountid> | The visitor cookie includes a unique visitor ID and the unique identifier for your account. For example, the cookie name visitor_id12345 stores the visitor ID 1010101010. The account identifier, 12345, makes sure that the visitor is tracked on the correct Pardot account. The visitor value is the visitor_id in your Pardot account. This cookie is set for visitors by the Pardot tracking code. |
pi_opt_in<accountid> | If Tracking Opt-in preferences is enabled, the pi_opt_in cookie is set with a true or false value when the visitor opts in or out of tracking. If a visitor opts in, the value is set to true , and the visitor is cookied and tracked. If the visitor opts out or ignores the opt-in banner, the opt-in cookie value is set to false . The visitor cookie is disabled, and the visitor is not tracked. |
visitor_id<accountid>-hash | The visitor hash cookie contains the account ID and stores a unique hash. For example, the cookie name visitor_id12345-hash stores the hash “855c3697d9979e78ac404c4ba2c66533”, and the account ID is 12345. This cookie is a security measure to make sure that a malicious user can’t fake a visitor from Pardot and access corresponding prospect information. |
lpv<accountid> | This LPV cookie is set to keep Pardot from tracking multiple page views on a single asset over a 30-minute session. For example, if a visitor reloads a landing page several times over a 30-minute period, this cookie keeps each reload from being tracked as a page view. |
pardot | A session cookie named pardot is set in your browser while you’re logged in to Pardot as a user or when a visitor accesses a form, landing page, or page with Pardot tracking code. The cookie denotes an active session and isn’t used for tracking. |