Category: Fraud

Fraud

Reporting Fraud & Integrity Hotline

What is Fraud? Fraud generally involves a willful or deliberate act with the intention of obtaining an unauthorized benefit, such as money or property, by deception or other unethical means. The Institute of Internal Auditors characterizes fraud as “an array of irregularities or illegal acts characterized by intentional deception. It can be perpetuated for the […]

Read More
Managing Fraud Risk

Managing Fraud Risk

According to Managing Fraud Risk: A Practical Guide, “personnel at all levels of the organization—including every level of management, staff, and internal auditors, as well as the organization’s external auditors—have responsibility for dealing with fraud risk.” While everyone within the organization has the duty to help fight fraud, the practical implementation of fraud risk management […]

Read More
Fraud Risk Assessment

Fraud Risk Assessment

Fraud Risk Assessment Properly preparing the company for the fraud risk assessment is critical to the assessment’s success. The culture of the organization should influence the approach used in the fraud risk assessment preparation. The goals of the preparation should be to: Assemble the right team to lead and conduct the fraud risk assessment. Determine […]

Read More
Fraud Prevention

Fraud Prevention

Fraud Prevention Programs and Procedures Fraud prevention requires a system of policies and procedures, which, in their aggregate, minimize the likelihood of fraud occurring while maximizing the possibility of detecting any fraudulent activity that might transpire. We often compromise the possibility of apprehending potential perpetrators by not committing fraud. Because of this principle, the existence […]

Read More
Ponzi scheme

What is a Ponzi scheme?

What is a Ponzi scheme? The Ponzi scheme definition an investment fraud that involves the payment of purported returns to existing investors from funds contributed by new investors. Ponzi scheme organizers often solicit new investors by promising to invest funds in opportunities claimed to generate high returns with little or no risk. In many Ponzi […]

Read More
Fraud Risk Management

Fraud Risk Management

Fraud Risk Management: Fraud and poor governance are serious risks for all organizations. High-profile cases in recent years have shown. That dishonest behavior not only undermines profits, operating efficiencies, and reliability but can severely damage an organization’s reputation. As a result of fraud-related collapses, governments around the world have undertaken regulatory initiatives in the fraud […]

Read More