Fraud Prevention is not a static process. Fraudsters are continuously evolving and coming up with newer and more innovative methods to exploit weaknesses. Most organizations approach fraud prevention in silos rather than adopt a holistic approach.

Common mistakes organizations make are

• Not identifying key information assets which need special protection.
• Spreading security  budgets across asset classes rather than do a priority based allocation
• Too much emphasis on technology and neglect of people and processes
• Classification of Fraud Prevention as an IT Job-It is everyone's job
• Failing to do regular control reviews and evolve with the times
• Treating fraud prevention and internal control as a System rather than a Culture

We have developed our own unique "PROTECT" framework to provide a comprehensive review of the adequacy and effectiveness of your fraud prevention measures. This does a complete evaluation of your control environment and culture and provides a comprehensive report on the recommendations and next steps. 

P people, Culture and Ethics

R risk Assessment 

O objectives of the Organization impacted by Identified risks

T tax Compliance - a key indicator of organizational ethics

E evaluate Control and Risk mitigation measures

C contract Review to assess fairness to employees, customers and vendors

T training assessment for determining awareness of code of ethics, windows available to report fraud and unethical practices

Please feel free to contact us at info@saileshcousik.co.in for any specific needs.