Fraud and Theft


Fraud and Theft

'Fraud occurs when opportunity meets motivation'. – Donna McKay (Executive Director at Physicians for Human Rights)

5 Essential Truths 

  • You operate in an environment of enhanced threats.
  • Fraud and theft management is no longer about response, it is now about detection and prevention.
  • Fraud risk management will help align corporate values and performance as well as protect organisational assets, including its reputation.
  • Internal controls are one of the great fraud deterrents.
  • Implementing a fraud prevention plan requires commitment and also requires the business to provide the right tools and support to its employees.

5 Immediate Check Points 

  1. Do you use hindsight and insights (including benchmarking) to prevent and detect potential fraud and theft?
  2. Are you staying in touch with your industry – be aware of the new forms of fraud and theft impacting similar organisations? 
  3. Are you geared to respond to new and sophisticated tactics?
  4. Do you use your data to determine, identify or tell a story about the fraud risk in your organisation?
  5. Are you gaining insight on better ways to design and evaluate controls to prevent, detect and respond appropriately to risk of fraud and theft?
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