Not On My Watch: Providing Insight Into Fraud Prediction, Prevention And Response

Fraud directly affects your bottom line profit. With a

generous profit margin of 5%, you would need to generate an

additional £1m to recover losses from a mere £50,000

fraud.

In today's economic climate, the adage "prevention is

better than cure" has never been more accurate. No

organisation can be completely immune from fraudulent activity, but

steps can be taken to reduce exposure to financial loss,

reputational damage and service interruption which are common

consequences of fraud.

We offer the full range of fraud-related services drawing on our

depth and breadth of capability, but we have put together three

assessments (complimentary or stand alone), to give you comfort

that your fraud prevention and detection systems are working as

planned and to answer questions around the following critical

areas:

Culture

Do staff understand and comply with fraud management policies

and procedures?

Data & Technology

Are we confident that we understand our data? Could we be

identifying patterns and trends to help predict fraudulent

activity? Post incident, what data do we need to be looking at to

help respond?

Controls

How could we improve our fraud risk management framework? What

are the areas of fraud vulnerability in high risk processes?

Deloitte can provide a cultural assessment, using our

D&Termine tool, giving you valuable insight into your

organisation's ethical culture and the actual impact of your

fraud and ethical risk management programmes.

D&Termine is an easy to use web-enabled short survey tool

developed in conjunction with researchers in the field of business

ethics and organisational behaviour.

The survey can be delivered to large numbers of employees

simultaneously gathering specific anonymous feedback. It comprises

six principle areas:

awareness of relevant policies and follow through;

corporate culture;

observed unethical/questionable behaviours;

issues that either facilitate or reduce the likelihood of fraud

occurring;

respondents' perceptions of the desired outcomes of ethics

and compliance programme efforts; and

specific risk issues.

Respondents are asked to reply to statements using a five point

scale from "strongly agree" to "strongly

disagree". Sample statements include:

Employees in this organisation are quick to notice when a

situation raises ethics or compliance issues.

Ethical and compliance policies are consistent with our actual

company practices.

If someone knew that a colleague was doing something unethical,

he or she...