All organisations and individuals are subject to fraud risk. It is therefore essential to prioritize fraud prevention and detection to protect every organisation’s and its stakeholders’ interests. Fraud can come in many forms, from simple company property theft to complex financial schemes. It can cause significant financial loss and damage to an organisation’s reputation, as well as legal and regulatory problems. While most of clients do not commit fraud, some do, leading to losses for the defrauded. To prevent and detect fraud, it is important to establish strong internal controls and implement effective risk management practices Although it is impossible…
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