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Showing posts from November, 2023

ADOPTING AN EFFECTIVE FRAUD MANAGEMENT FRAMEWORK FOR FINANCIAL INSTITUTION

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Fraud presents a notable risk for financial institutions, and adept management of this risk is crucial to limit financial losses, uphold customer trust, and adhere to applicable regulations. Within this article, we'll explore the primary strategies that risk experts can employ to establish a robust fraud risk management program within banking institutions. Risk Assessment and Identification: Banks begin by conducting a thorough assessment to identify potential areas of vulnerability to fraud. This involves evaluating internal processes, systems, and external factors that could pose risks. Understanding the types of fraud prevalent in the banking sector (such as identity theft, account takeovers, payment fraud) helps in identifying potential areas of concern. Policies, Procedures, and Compliance: Developing robust policies and procedures aligned with industry standards and regulations is crucial. These policies cover fraud prevention, detection, and response protocols. Compliance wi

Why Adult Education is Important

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Who says learning shouldn’t continue into adulthood? Adult education offers mature individuals an opportunity to expand their knowledge, acquire fresh skills, and attain valuable qualifications and credentials. Any adult can go back to learning by applying for even one module! You can take classes that have to do with the industry you work in or you can simply choose a class that interests you. We all seek growth by learning something new that will benefit us. The benefits of adult education Here is 9 benefits of informal adult education: 1. Active citizenship and democracy People who participate in adult education also participate more in the community by voting, working as volunteers or taking active roles in the community. Adult education is the tool for developing critical thinking. 2. Health and well-being Adults who participate in learning activities have a healthier lifestyle and enjoy life more. Adult education contributes to personal development and self-realization. The healt

Tips to Prevent Online Fraud

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Scams succeed because they look like the real thing and catch you off guard when you’re not expecting it. Scammers take advantage of new technology, new products or services and major events to create believable stories that convince you to give them your money or personal details.  Always stop, think and check before you act. Scammers rely on you not spotting these warning signs because you're in a hurry, something looks like a great deal you don't want to miss, or because it seems like it's from someone you trust. Online fraud takes many forms, but there are some basic tips that could help to protect you from a range of methods. Wait - is it too good to be true? When it comes to online fraud, the phrase ‘too good to be true’ is often accurate. Often, fraudsters will tempt you in with goods or offers that seem better than anything you’ll find elsewhere. It’s this temptation of a bargain or a great deal that could lure a potential victim. If you’re offered a deal that sound

How to Write a Business Proposal That Stands Out?

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When running a business and actively seeking contracts, the size of your company is irrelevant. Crafting compelling proposals is a crucial aspect of the process, and to distinguish yourself, innovative ideas are essential. Enhancing your proposal management process to be more astute, responsive, and effective is vital to capture the attention of selection committees. The key question now is, how can you achieve this? Track your previous proposals and take serious note of the feedback you got so you can tweak your next round of proposals and get the bid assistance you need.   Did they say you didn’t have enough specifics about your experience and expertise? Then beef up this area the next time around. Did they think it was too long and that they just wanted bullets? Then just do an executive summary on the next one. Tell your business story.  Many proposals read by selection committees are dry, boring, affairs with simple data and information, or overpowering with the marketing language

Passion as a Selling Tool

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We are well aware that the essence of sales lies in "closing the deal." Every salesperson employs diverse techniques to enhance their success with customers. Nonetheless, I contend that passion is a frequently overlooked and underutilized tool in our sales arsenal. Its value is challenging to quantify, and an effective method for teaching it has yet to be discovered. Why isn't passion harnessed more frequently for personal gain? It’s simple. Passion exists in those who are humble, focused and unlikely to advertise their expertise. But what makes a great sales person? Confidence? An understanding of human behavior? An entrepreneurial spirit? Probably all of the above, and a lot more besides. However, for me there’s one common trait that the best sales and marketing people all seem to possess: Passion. Passion for their company, their products, their people, their services.  Passion for their customers’ concerns, goals, experiences and dreams.  Passion for the industry that

Why It's Never Too Late to Learn New Skills as an Adult

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It's  true  that  as  we  get  older,  our  ability  to  learn  new  things  decreases,  but  by  cultivating  a  certain  mindset,  or  more  specifically,  by  maintaining  a  beginner's  mindset,  you  may  learn  new  things  successfully  even  as  an  adult. If you’ve ever wanted to tackle a new area of expertise or refresh your memory on a familiar one, but felt like your age was hold you back, then  five reasons why it’s never too late to study  is the article for you! 1.     Learning is an ongoing process Some people reach retirement and still continue to learn things. Life is about learning different skills and experiencing new things. And, nothing says learning like a professional course where you won’t only be studying the theoretical side of a topic but actually experiencing the ins and outs first-hand with in-depth practical placement aspects. It’s actually very common for education institutions nowadays to feature students of varying ages so, if you feel you may