Have you ever asked yourself what kind of tools could be helpful to prevent and identify fraudulent actions or non-compliant behaviour?
If so, in this episode you will receive a first tool in form of a hypothesis at hand which I highly appreciate and – after so many years into that business – I use on a daily basis. Sometimes even unconsciously.
I talk about the drivers of fraud and where these come from. It is definitively not a new art at all.
I am convinced that it is essential to understand the different fraud drives when you are overseeing processes, businesses and people.
Methodologies, tools and approaches support us and are part – or become part – of a wider framework in your organisation. And for yourself.
Companies that have been successful for decades often have a corporate governance that is truly (pre-)lived and based on
· ethical principles.
· and values of integrity.
The three drivers of fraud are based on Cresseys analysis and final hypothesis. He developed the method of the so-called “Fraud Triangle”.
The hypothesis is based on three main sub-areas which we heard before:
- Trusted person Trust creates access and thus opportunities.
- Financial problem A motive that puts pressure on the individual
- Own value system (own conduct) One’s own truth and thus justification for the act
As already mentioned, this fraud triangle has been developed and refined over the years.
However, the simplicity of these three manifestations allows
· a quick and
· Reliable analysis
of possible offender profiles for hypothesis work, also under altered conditions, for example with new risks in the area of cybercrime.
Therefore I would like you to use the take-home assignment to practise the underlying hypothesis of fraud triangle
– Trusted person
– Financial problem
– Own value system
Pick one of the latest news and identify these three key drivers. You will immediately see the interconnections of the hypothesis.
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