FRAUD PREVENTION

"Prevention is better than Cure", as the saying goes and this is even more relevant with fraud and corruption. Fraud is costly and disruptive and has consequences on brand and business value. An effective anti-fraud program is money well spent.

The five important elements of an effective anti-fraud program are:

 

1) Anti-Fraud and Anti-corruption policies

2) A sound Code of Conduct/Ethics (including Conflict of Interest and Gift declarations)

3) Fraud Risk Assessment process or Fraud vulnerability review

4) Fraud Hotline reporting mechanism

5) Fraud sensitisation training to key employees, incorporating items 1 to 4 above

 

How can we help ?

Hiring a fraud risk management consultant may be a prudent and cost effective step in the prevention and management of fraud risks.

At Fraudintegrity Simon Padgett has over 20 years of experience in Fraud Risk Management. He has been the Head of Fraud Risk for two publicly quoted companies as well as Head of Fraud Risk and Internal Audit for the largest family owned conglomerate in The United Arab Emirates. Simon has consulting experience in carrying out Fraud and Corruption Prevention Plans for large international organisations and smaller local companies.

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