Fraud Prevention Program

A Fraud Prevention Program is a set of strategies and practices designed to protect organizations from fraudulent activities. It involves identifying potential risks, setting up controls to detect and prevent fraud, and promoting a culture of integrity and ethical behavior. Key components may include employee training, regular audits, monitoring transactions, and having clear policies for reporting suspicious behavior. By implementing such a program, organizations aim to safeguard their assets, maintain trust with customers, and comply with legal requirements, ultimately reducing the chances of financial loss due to fraud.