Time for an Anti-Fraud Checkup: Strategies to Deter, Prevent, and Detect Fraud

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Erick Bell, a Senior Manager at Deloitte Financial Advisory Services LLP, presents a detailed internal control checklist that outlines 5 anti-fraud strategies companies can use to deter, prevent, and detect fraudulent activity.

Corporate Compliance Insights, an online forum for knowledge exchange between successful compliance executives, has announced the release of a new feature article. The article discusses the importance of having adequate fraud controls in today's business environment and outlines 5 key strategies for deterring, preventing, and detecting fraud.

"Internal Control Checklist: 5 Anti-Fraud Strategies to Deter, Prevent, and Detect Fraud" by Erick O. Bell, a Senior Manager at Deloitte Financial Advisory Services LLP, can viewed at the following link:


As Mr. Bell explains, "Opportunity is the one condition that can most effectively be managed to address fraud risks. This condition is principally managed by designing and implementing a control environment that prevents, detects, and deters most fraudulent behavior, whether conducted by employees, vendors, consultants, or senior management."

In the article, Erick Bell outlines five proven strategies for improving an organization's ability to effectively manage fraud risk:
     1.    Have a truly independent and empowered audit committee;
     2.    Conduct detailed fraud risk assessments;
     3.    Promote the tools for effective reporting of suspicious or inappropriate activities;
     4.    Have a strong and clear anti-fraud policy and appropriate training;
     5.    Respond effectively to fraud allegations.

Mr. Bell provides a detailed explanation for how to properly implement each of the above strategies, as well as analysis for why it is so important for companies to do so. As he explains, fraud is inevitable and even the most stringent anti-fraud controls cannot prevent every possible instance of fraud. However, instituting the proper measures as part of a consistent and clearly communicated directive from upper management can increase a company's ability to deter, prevent, and detect.

Erick O. Bell is a senior manager in the Forensic & Dispute Services practice of Deloitte Financial Advisory Services LLP in San Francisco. Erick focuses on corporate investigations, anti-fraud consulting, and litigation and dispute support. He has delivered various trainings on fraud awareness, fraud risk assessments, and forensic interviewing techniques; and is currently an adjunct faculty member at the University of San Francisco.


Corporate Compliance Insights is a professionally designed and managed forum dedicated to online discussion and analysis of compliance topics. CCI personally extends author invitations to experience, high profile professionals in the Compliance Community. A new feature article written by a successful compliance executive or professional is posted each week. To learn more about becoming a featured author for Corporate Compliance Insights, visit the Write for CCI page.


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Maurice Gilbert
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