{"id":3483,"date":"2016-11-09T11:50:55","date_gmt":"2016-11-09T01:50:55","guid":{"rendered":"https:\/\/www.wiseworkplacetraining.com.au\/2021\/09\/11\/6-pillars-of-an-effective-fraud-prevention-program\/"},"modified":"2021-09-11T11:51:07","modified_gmt":"2021-09-11T01:51:07","slug":"6-pillars-of-an-effective-fraud-prevention-program","status":"publish","type":"post","link":"https:\/\/www.wiseworkplacetraining.com.au\/2016\/11\/09\/6-pillars-of-an-effective-fraud-prevention-program\/","title":{"rendered":"6 Pillars of an Effective Fraud Prevention Program"},"content":{"rendered":"
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Fraud is enormously detrimental to Australian organisations, with KPMG putting the average cost of each case in 2015 at $1.4 million.<\/p>\n<\/div>\n
There can be a number of reasons why an employee commits fraud, such as personal financial pressures, personality traits, rationalisation, and opportunity. Since it\u2019s fairly impossible to control other people\u2019s personalities, thoughts and problems, the best thing you can do to fight fraud is to reduce the opportunity for it to happen in your organisation in the first place.<\/p>\n<\/div>\n
According to research by the Association of Certified Fraud Examiners (ACFE), where anti-fraud controls are in place, detection of fraud occurs up to 50% quicker, and losses are reduced by 14% to 54%.<\/p>\n<\/div>\n
So let\u2019s take a look at six ways to prevent workplace fraud.<\/div>\n

1. Create a positive workplace culture<\/h3>\n
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In a positive and ethical culture, fraud will have little place to sprout and grow. Some of the elements to consider include:<\/p>\n