ABSTRACT
When it comes to treating fraud risks, there are normally four options: avoid it; transfer it to someone else; accept or retain it; or reduce the likelihood or consequence. Many organisations reduce fraud risks by transferring the risk to insurers through employee fidelity or computer crime policies. The most common way of treating fraud risks is to develop resistance and become resilient. This involves reducing the likelihood and/or consequence by raising awareness of fraud risk and implementing preventive or pre-emptive controls. A well-structured, interactive, organisation-wide fraud awareness programme is a cornerstone of an anti-fraud culture. A successful programme will serve to significantly drive down the costs of fraud inherent in the organisation. Fraud awareness training should be used to remind employees to remain vigilant, especially at times when they might be more susceptible, for example, when they are under pressure to meet cut-off times or to process invoices before close of business.
