Discover the common fraud control types
Employing fraud controls can help your entity prevent, detect and respond effectively to fraud. Our extensive catalogue of common fraud controls can also help you:
- identify control gaps in your processes and systems
- measure the effectiveness of your existing fraud controls.
Prevention fraud controls
Prevention fraud controls are the most common and cost effective way to stop fraud. They prevent or limit the size of the fraud risk by reducing the likelihood and consequences of fraud.
Detection fraud controls
Detection fraud controls can help identify when fraud has occurred, disrupt additional fraud and reduce the consequences. Detection fraud controls are not as cost effective as prevention fraud controls. However, if detected early, the impact of fraud can be significantly reduced.
Corrective fraud controls
Corrective fraud controls respond to fraud after it has occurred to help reduce or disrupt additional consequences. They are not as cost effective as prevention or detection fraud controls. However, the impacts of fraud can be significantly reduced (if implemented effectively).
Common fraud controls
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