Human Risk Matters

Why It Matters

Human Risk Trends

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49% of global organisations have been victims of fraud and economic crimes
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Typically organisational losses due to fraud are between $100k - $1M (USD)
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52% of fraud is perpetrated from within an organisation
Reputational damage now outstrips regulatory risk
Organisational fraud and economic crime has increased 6% year on year

From the perspective of the United Nations, human risk circumstances should be the highest priority for business and organisational action. According to the UN, the world is at a critical juncture. In the last two decades, each year 218 million people have been affected by disasters, at an annual cost to the global economy that now exceeds $300 billion.

Moreover, high-risk circumstances for human rights often present an equally high risk to businesses as well, including commercial, reputational, investor related and legal risks.

This convergence creates a constructive opportunity for human rights leaders within companies and organisations to gain the necessary buy-in for identifying and addressing human rights risks and impacts.

Your vision for increasing human rights and reducing the impact of human risk has never been more important.

Your focus may well be on a range of fundamental issues

Humanitarian

  • Sustainable development
  • The protection of the environment and refugees
  • The provision of disaster relief and mitigation
  • Counter terrorism
  • Disarmament and non-proliferation
  • Reputational

Business Risk

  • Strategic
  • Compliance
  • Operational
  • Financial
  • Reputational
Any failure or fraud in the corporate or humanitarian sector is damaging. A breach of trust threatens all you stand for, all you have worked so hard to deliver and those you seek to help.

It impacts

  • Your reputation
  • Your funding
  • Your beneficiaries

How do you respond

What’s required is a fully transparent and unflinching response to all allegations of unacceptable behaviour. This is vital in maintaining, or restoring, the confidence and trust of shareholders, stakeholders, donors, beneficiaries, customers and the watching world.

High quality, competent investigations play a pivotal role in your response to any misbehaviour or potential misbehaviour. Failure to properly investigate allegations sends out damaging signals to victims, perpetrators and your stakeholders.

How do you prevent it

The trends show an ever-increasing human risk threat. Pre-empting and preventing these risks are achievable with the right expertise. OSACO has a preventive program based on a methodology created through our insights, our expertise, our hands-on experience and understanding of both human behaviour and legal compliance.

The Next 5 Years

OSACOs Top 5 Predictions

We believe that human risk factors will continue to expand and evolve globally in the coming years and that this well established direction of travel will be unaffected by the changing political landscape, including the rise of populism. 

Global Trends

  1. Human risk factors continue to evolve and spread geographically
  2. Societal actions become increasingly effective versus enforced regulation
  3. Preventative compliance and zero tolerance
  4. Societies will become increasingly cashless
  5. Ethical and transparent organisations become the new normal

Organisational Trends

  1. Recognising Human risk factors
  2. Identifying the blindspots
  3. Take a proactive and preventative approach
  4. Engage and invest in your people
  5. Adopt best practice