Question: Evaluate tools and techniques that are the most effective in preventing and detecting fraud, making a recommendation for the tool that has the highest cost-benefit
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Tools to fight against fraud Administrative sanctions provide a perfect opportunity for organizations to combat fraud when people are seen or they knowingly engage in fraudulent activities Measures can be put on them to see that opportunities for them are closed For a given period a person can be denied some privileges like the free use of their credit card sanctions maybe for a certain period like one month to six months A monetary penalty may also apply in organizations when an employee weighs out the cost and benefits related they may opt to stay out of the vice Data analytics have been proven to be an effective way of fighting fraud with this tool you can analyses data over a given period like in the desired way For instance chronologically according to rank and even regions by matching the available data then it will be easier to tell when fraud occurs Antifraud groups committees are also crucial in detecting fraud they are experts and they have the latest techniques new methods to detect fraud thus working with them will be way productive compared to other methods Quality assurance reviews bring more benefits to the organization ... View full answer
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