Zero tolerance to Frauds

Frauds can happen anywhere but I liked the way Dubai Healthcare Authorities used Mystery shopping to identify bogus health care claims, this is the way it should be. you identify the problem and then as the situation demands, you plan your strategy to prevent/detect frauds. I personally feel that mystery shopping if managed properly is one of the most effective tools to identify frauds and gather evidence. Will it ever happen in India? This article is mostly focussed on various forms of frauds in Insurance sector.

These are basic guidelines which would go a long way towards fraud prevention & detection. Any Anti fraud expert would vouch for it that job rotation is the most effective and efficient way of fraud detection. I have heard stories about how clerks in certain nationalized banks in India, would give a pass to promotions to avoid getting transferred. There may be genuine reasons for the same or a understanding that if they move, irregularities may come to light. I have seen Indian regulator being very active in terms of taking proactive action and people working there understand what they are talking about. I recall this is second set of specific guidelines issued by RBI on fraud risk. Good to see that fraud is being recognized as a key threat, at least those organizations who think of fraud risk management related investment as a cost would understand importance of it. I expect rise in demand for Anti Fraud professionals through such steps, similarly vendors providing services like f

These guys are so motivated, they keep on coming with different versions, always looking out for that weak spot to hit on. It's exciting to be on the anti fraud side, very challenging, never gets boring.