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.

Comments

Unknown said…
I am in total consent on factor mentioned. I believe "FRAUD" in its basis is an intent which remains same in any form be it be white collar. Its nature / texture varies depending upon market, acceptability, and to some extent deterrent set.
November 13, 2009 at 6:17 PM
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