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Deloitte Romania opens application for the 21st edition of Technology Fast 50 Central Europe competition, addressed to large and small local companies in the technology sector, public and private, which register accelerated growth. Held simultaneously in other 17 Central European countries, namely Albania, Bosnia-Herzegovina, Bulgaria, Croatia, Czech Republic, Estonia, Hungary, Kosovo, Latvia, Lithuania, Macedonia, Moldova, Montenegro, Poland, Serbia, Slovakia and Slovenia, the competition provides both established and emerging technology companies the platform to highlight their leading position in their field of activity.

The reopening of commercial spaces and the return to the office after the relaxation of the restrictions imposed in the context of the COVID-19 pandemic involves a considerable administrative effort for companies, in order to meet the criteria and implement the measures that will offer the green light to resume business. Each company needs to prepare its own set of measures and implement them rigorously, in order to avoid undesirable consequences and risks, based on a plan adapted to its own specificity, so as to reach the “fit-for purpose“ standard, depending on the characteristics of the space and the nature of the activity carried out in the location.

A typical fraud case lasts 14 months before detection and causes a loss of over $8,000/month, according to the Association of Certified Fraud Examiners (ACFE) 2020 Report to the Nations. When considering today’s financial landscape, where transactions happen under one second, and the current age of economic turmoil that COVID-19 has caused on a global scale, these challenges and risks become all the more threatening, underlined Deloitte Romania and SAS experts in a series of webinars on fraud detection, anti-money laundering (AML) and use of analytics for these fields. However, there are reasons to be optimistic, as 55% of organizations expect to invest more in anti-fraud technology over the next two years, according to ACFE’s 2020 Anti-Fraud Technology Benchmarking Report, and new approaches to fraud prevention emerge, combining rules-based systems with machine learning and AI-based fraud detection systems that enable the identification of thousands of fraud patterns.