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Fraud re­sponse plan

A fraud re­sponse plan, which de­tails the re­port­ing lines and the ba­sic steps to be fol­lowed once a fraud is dis­cov­ered is es­sen­tial, and should in­clude ba­sic steps like re­mov­ing ac­cess cards or keys and re­strict­ing net­work ac­cess and sign­ing pow­ers

Bench­mark risk and re­view con­trols

Un­der­stand the key risks and com­mon frauds tak­ing place in your in­dus­try. Speak to the spe­cial­ists and get ex­pert foren­sic ad­vice on how to pro­tect your or­gan­i­sa­tion

Gift pol­icy

En­sure that sup­pli­ers and staff are clear as to the bound­aries in terms of gifts or ben­e­fits that may be pro­vided or ac­cepted

Fraud aware­ness train­ing

Train em­ploy­ees on how fraud takes place, the symp­toms of fraud­u­lent ac­tiv­ity, what to look out for and how to re­act to it, and un­der­stand their eth­i­cal duty to pro­tect the busi­ness

Code of ethics

The or­gan­i­sa­tion must spell out its own eth­i­cal rules for do­ing busi­ness

Fraud/ethics hot­line

Have an in­de­pen­dent hot­line in place and en­cour­age whis­tle-blow­ing

Ex­pert foren­sic sup­port

Foren­sic spe­cial­ists should have con­tactable ref­er­ences and be able to pro­vide ver­i­fi­able de­tails on their suc­cesses

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