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What a mess – how could all this was allowed to happen?

What a mess – how could all this was allowed to happen?. Dr. Atis Zakatistovs RBS March 24, 2014. Fraud. A deception deliberately practiced in order to secure unfair or unlawful gain. Fraud awareness quiz (Steve Giles).

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What a mess – how could all this was allowed to happen?

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  1. What a mess – how could all this was allowed to happen? Dr. Atis Zakatistovs RBS March 24, 2014

  2. Fraud • A deception deliberately practiced in order to secure unfair or unlawful gain.

  3. Fraud awareness quiz (Steve Giles) • Who is responsible for preventing and detecting fraud in your organization? • What percentage of employees do you consider to be totally honest? • What percentage (by value) of internal fraud is committed by women? • Who is responsible for investigating fraud in your organization?

  4. Generic controls • Segregation of duties; • Delegation of authority and authorisation limits; • Physical and computer security over assets, records and information;

  5. Fraud prevetion – hard controls • Staff vetting; • Internal controls; • Anti-fraud policy statement;

  6. Fraud prevention – soft controls • Employee support programmes; • Fraud awareness training; • Management review of internal controls;

  7. Fraud prevention plan • An assessment of fraud risk; • A policy statement, including a fraud response plan; • A fraud awareness training program; • Staff vetting procedures; • A whistle-blowing hotline.

  8. Fraud triangle (Donald R. Cressey) • Psychological pressure; • Opportunity; • Rationalisation;

  9. Thank you! • Dr. Atis Zakatistovs • E-mail: zakatistovs@yahoo.com • +371 2 941 3992

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