Africa Risk

Your 10-point plan on how to combat fraud and corruption in your organisation

they-walk_banner

Make an impact that matters

 

Effective management of fraud and corruption risks should focus on the effective detection, response and prevention of incidents. The unfortunate reality is that perpetrators of these crimes are constantly adapting their approach and as such the risk profiles of organisations require constant monitoring and assessment. There are specific requirements that all organisations should take note of in their formulation of a sound foundation for managing fraud and corruption risks and this foundation requires augmentation in respect of organisation specific environments.

As a minimum, organisations should have all of the measures below in place (this list is not exhaustive and serves as a foundation for managing fraud and corruption risks):

  1. Embed an effective fraud prevention strategy
  2. Implement a tiered approach
  3. Effective fraud risk assessments
  4. Optimise the use of technology in detecting fraud
  5. Assessing employee awareness
  6. Eliminating conflicts of interests
  7. Managing relationships with external stakeholders
  8. KNOW your business partners
  9. Creating awareness
  10. Optimise the use of a whistleblowing hotline

Click here to read the full article

About the author

Clayton Thomopoulos

Clayton is a Director in Deloitte Risk Advisory and is a Certified Fraud Examiner (CFE). He has approximately 17 years Forensic experience in the financial services and public sectors, specialising in Fraud Risk Management, Investigations, proactive input regarding data analytics parameters and development of fraud and corruption prevention strategies. He is currently the Deloitte National Leader for eDiscovery, Forensic Technology, Fraud Prevention and Detection.

Leave a Comment