Profiling the fraudster is an in-depth look inside the mind of a fraudster. What makes him tick, what motivates him and let’s look at his modus operandi. Profiling the characteristics will assist in developing sound anti-fraud programs for your organisation. Tighten your response and prevention methodologies by understanding what goes on inside the fraudsters mind by using Fraud Profiling to complement your fraud prevention and anti-fraud program activities. Understanding what makes a person dishonest and profiling the characteristics will ensure that your recruitment policies restrict entry to the fraudster to your organisation.
Fraud Prevention and Investigation has traditionally focused on internal controls and any weaknesses creating opportunities. However, fraud is committed by Human Beings who abuse a position of trust and who are relied upon to safeguard the organizations assets by being a part of the internal controls system. We need to study and understand what makes these human beings act with low integrity and profile the characteristics for use in fraud prevention and detection. Extending the Fraud Triangle to The Fraud Diamond is only the beginning. Understand how to profile fraudsters and their actions to reduce fraud risk in your organization.