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Security and Loss Prevention

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Submitted By pfields45
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Pages 2
KRISTI SCOTT
SECURITY AND LOSS PREVENTION
AMERICAN INTERCONTINENTAL UNIVERSITY

ABSTRACT

This paper is information on preventing acts of fraud against corporate executives and the preventive measures that can be used for that purpose.

Probably the most important step in protecting against fraud is to start with the top executives to set the tone for not tolerating any type of fraud within the company. A great way to start is by educating the employees of the company in ways of detecting different types of fraud because the employees can be, by far, the best line of defense against fraud for the company as well as the top executives.
Another effective but rarely used method is to have surprise audits. Surprise audits can be very successful in detecting fraud before it gets out of control. Probably the most important benefit of surprise audits is preventing fraud by creating the perception that fraud will be detected.
Check and double check employee backgrounds. This means, that companies should confirm all work history and education listed in any potential employee’s or executive’s resumes as well as following up with all references listed also. Any undisclosed or misleading information should be considered a red flag. The same scrutiny should be used to screen new and existing executives, suppliers, customers, and any business partners.
With the help of an outside source such as the Association of Certified Fraud Examiners for example. I believe that creating a fraud detection education program for top executives as well as the company employees would be a really effective way to protect everyone from fraud. I think that also I would want to assign the most trusted people to respond to reports of fraud and implement a plan of action according to what type of fraud is involved. Maybe include an added incentive that would bring penalties against

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