Fraud Prevention and Detection

Welcome to the forum specifically dedicated to the discussions about Fraud Prevention and Detection (FPD). This forum provides a platform where participants discuss issues related to fraud prevention and detection and they can help their organizations design effective controls to prevent incidences of fraud before they materialize.

According to a study by the Association of Certified Fraud Examiners (ACFE) 5% of all revenues in privately held organizations are lost annually as a result of fraud. The study further reported that banking and financial services, government and public administration, and manufacturing industries continued to have the greatest number of reported fraud cases, while the mining, real estate, and oil and gas industries had the largest reported median losses.

Participants are encouraged to give their comments and give proposed solutions to problems under discussion. It is by sharing and exchanging of ideas that we can appreciate and apply the best practices in our local environment. Each participant can start a new discussion or contribute to the on-going discussions quoting specific sections that he/she is interested in.

As professionals, participants are expected to respect the opinion of others and to abstain from the use of abusive, racial or politically charged language. 

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