Fraud Risk Function in International Markets
It's been a long time since i wrote on the blog.I got an opportunity to work on a international project & it is proving to be one of the best phases of professionsal life in Fraud Risk Management function.We did fraud risk assessment & found that factors like employee motivation,controls functions ,continuous employee background/activity verification ,reconciliation,policy compliance in different departments,management capability etc are playing a vital role in terms of controlling fraud levels.Though these are known to every one & applies in all markets but motivation for fraudsters vary from market to market , Deterrent types also varies,one deterrent which works in X market may not work in Y market.Similarly fraud prevention methods vary from country to country due to logistics, people capabilities.