While there are a wide variety of frauds, as we described in our last part of the series, there are a relatively small number of key principles that, if understood and acted upon properly, can make fraud at least more difficult. (Keep in mind though: it is never impossible)! Some of the principles can also make it more likely that fraud is detected, even if it hasn’t been cut off at the source. As we said previously, fraud relies on extracting money from the organisation, either in return for nothing, or in return for less value than the money justifies. So the basic counter-fraud principles must be around controlling the flow of money out of the organisation, and ensuring that full value has been obtained for that money.
Procurement Fraud Part 3 – Six Anti-Fraud Principles [Plus+]
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