Products and solutions / Fraud prevention & compliance programs
Product characteristics:
Business profits and the very survival of the majority of companies are under every day threat from fraudulent behavior of their employees and third parties. Nonexistent or poor anti-fraud measures and controls could entail a loss of revenue, loss of market share, damage of company’s reputation or lawsuits. The most cost-effective way to deal with the losses from fraudulent behavior is to prevent them.
Compliance means acting according to certain standards, set of rules or measures. Fraud prevention is a defined program of effective measures to avoid or mitigate fraud. Before such a program is developed, your organization’s current state of fraud risk should be assessed accurately. Based on the identified fraud risks and specific program objectives, we will develop a mix of preventative and detective controls, policies and business processes. To successfully put the program into practice, we will assist your organization in the implementation and operational phases of the program.
Occasions you will use the product:
- Establishment of ethical corporate culture
- Provision of continual fraud awareness education to your employees
- Development of guidance in response to incidents and to support internal investigations
- Fulfillment of compliance and fraud prevention requirements of authorities or regulatory bodies
- Creation of fraud prevention and compliance reporting mechanism
Product benefits:
- Prevention of fraud-related financial losses
- Deterrence of fraudulent and illegal activities by implementation of anti-fraud policies and procedures
- Compliance with ethical principles, self-governance rules and regulatory requirements
- Creation of ethical corporate culture that encourages effective workforce performance
- Timely and appropriate response to irregular activities and misconduct