Culture, oversight and fraud prevention

Focusing on anti-fraud controls could mean that companies are missing out on less tangible but more effective methods of preventing the financial, regulatory and reputational damage associated with large-scale fraud

As businesses change in response to new regulation, ranging from the Bribery Act and Fatca to Solvency II, their exposure to fraud risk changes as well. Anti-fraud precautions, then, are a key part of managing regulatory change. But operational risk managers could be going about fraud prevention the wrong way – soft defences such as cultural change and informal intelligence can be better than