As companies scale up hiring, the sheer volume of applicants increases the risk of fraudulent entries slipping through the cracks.
Candidates exaggerating skills, faking credentials, or even manipulating identities have become more common, powered by easy-to-access online tools and rising competition in the job market.
A global study by the Association of Certified Fraud Examiners (ACFE) shows that organizations lose an estimated 5% of their annual revenue to fraud. For MSMEs and other fast-growing Philippine firms, such losses not only raise costs but also disrupt operations, damage reputations, and threaten long-term competitiveness.
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Read more: Fintech News PH
