Anti-fraud controls 925
Mocha last edited by
Another basic question from me, please.
It seems fairly obvious yet I’m beginning to wonder whether I really know what an anti-fraud control is. Im looking at a series of controls for a particular process (premiums collection for an insurance company) and somehow all the controls in one way or another help to prevent fraud. I would appreciate some examples of what is and what is not an anti-fraud control.
For example a bank reconciliation - if the balances on the system total less than the balances on the bank statement and the difference is not due to timing or any other valid explanation then it could be that money is being siphoned out illicitly. Therefore a bank reconciliation could detect fraud. What are your views on this please?