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Fraud is a persistent reality of business life, affecting organisations across all sectors. By taking proactive steps to identify risks, strengthen controls and educate employees, businesses can significantly reduce their exposure to fraud and corruption.
3 Tips To Prevent Fraud
- Conduct an enterprise-wide fraud risk
assessment.
This provides a clear understanding of the specific fraud risks and scenarios that could impact your organisation, allowing you to identify vulnerabilities across all areas of operation. - Map your controls to those risks.
Evaluate whether your existing controls adequately mitigate the identified risks, and determine where remediation or enhancements may be needed to strengthen your control environment. - Increase fraud awareness across your
organisation.
Educate employees on the fraud risks relevant to their roles, including common typologies, warning signs and red flags. Building awareness empowers staff to identify and respond to potential threats early, helping to protect your organisation from fraud.
FTI Consulting works with organisations across industries to address fraud and financial crime, providing expert guidance on risk assessment, control frameworks and investigations to strengthen overall business resilience.
To learn how to protect your business from fraud, contact Natalie Faulkner or click here for more information.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
