Fraud Risk Management


To deter the occurrence of fraude, Van Leeuwen FCRM provides clients with expertise to set-up and implement a visible and transparant fraud risk management program that allows to create an anti-fraud environment. It assists private and public organizations with turning critical and complex issues into opportunities for resilience and long-term advantage. This involves identification of modus operandi as to how did the fraud occur, who was involved, what were the extent of losses, and how can it be prevented from recurring.

Anti-Fraud Strategy
Van Leeuwen FCRM’s anti-fraud strategy has four (4) main components:
a) Prevention
b) Detection
c) Response
d) Deterrence

The various elements of an effective anti-fraud strategy are closely interlinked and each plays a significant role in combating fraud. The combination of effective fraud prevention, detection and response measures will create an effective fraud deterrent.

Fraud Prevention

The attitudes within your organization lay the foundation for a high or low fraud risk environment. Where minor unethical practices may be overlooked, larger frauds may also be treated in a similar lenient fashion. In such an environment there may be a risk of total collapse of your organization either through a single catastrophic fraud or through the combined weight of many smaller frauds. A sound ethical culture and sound internal control systems are essential key components of a fraud prevention strategy.

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Fraud Detection

There are a range of fraud indicators – both warning signs and fraud alerts – which can provide early warning that something is not quite right and increase the likelihood that the fraudster will be discovered.

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Fraud Response

Any organization should set out its approach to dealing with fraud in its fraud policy and fraud response plan. Organizations should ensure that this includes provision for learning lessons from fraud incidents and appropriate, prompt follow-up action.

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