Substantially reduce the largely hidden cost of fraud, and reap a new competitive advantage.
As the title suggests, Countering Fraud for Competitive Advantage presents a compelling business case for investing in anti-fraud measures to counter financial crime. It looks at the ways of reaping a new competitive advantage by substantially reducing the hidden cost of fraud. Aimed at a wide business community and based on solid research, it is the only book to put forward an evidence-based model for combating corporate fraud and financial crime.
Despite its increase and capture of the news headlines, corporate fraud is largely ignored by most organizations. Fraud is responsible for losses of up to nine percent of revenues—sometimes more. Yet, most organizations don't believe they have a problem and don't always measure fraud losses. This highlights an area for capturing a competitive advantage—with the right counter-fraud strategy, massive losses due to the cost of fraud can be reduced for a fraction of the return.
Advocates a new model for tackling fraud and illustrates theories with best practice examples from around the world
The authors have close links with the Counter Fraud Professional Accreditation Board: Jim Gee is a world-renowned expert in the field, and has advised private companies and governments from more than 35 countries. Mark Button is Director of the leading Centre for Counter Fraud Studies, Portsmouth University, U.K.
Organizations are losing millions of dollars to fraud. This book outlines a comprehensive approach to reducing financial crime and helping return some of the revenue lost to the cost of fraud.
Table of Contents
- Title Page
- Chapter 1: Introduction
- Chapter 2: The Fraud Problem
- Chapter 3: The Fraudster and the Culture of Fraud
- Chapter 4: The Resilience to Fraud
- Chapter 5: Measuring Fraud Losses and Tailoring the Strategy
- Chapter 6: Creating an Anti-Fraud Culture and Preventing Fraud
- Chapter 7: Detecting Fraud and Investigating Professionally
- Chapter 8: Sanctioning Fraudsters and Pursuing Redress
Chapter 9: Enhancing Performance through Counter-Fraud Metrics
- 9.1 INTRODUCTION
- 9.2 NEW WAYS OF THINKING ABOUT SECURITY AND FRAUD
- 9.3 DEVELOPING A COUNTER-FRAUD METRICS PROGRAMME
- 9.4 DEFINE OVERALL OBJECTIVES/METRICS
- 9.5 DECIDE METRICS THAT MEET THOSE OBJECTIVES
- 9.6 DEVELOP STRATEGIES FOR GENERATING METRICS
- 9.7 ESTABLISH BENCHMARKS AND TARGETS
- 9.8 DETERMINE HOW METRICS WILL BE REPORTED
- 9.9 CREATE ACTION PLAN
- 9.10 REVIEW/REFINE CYCLE
- 9.11 CHALLENGES AND CRITIQUE OF METRICS
- 9.12 CONCLUSION
- FURTHER READING
- END NOTES
- Chapter 10: The Counter-Fraud Professional
Chapter 11: Reaping the New Competitive Advantage
- 11.1 INTRODUCTION
- 11.2 BRINGING THE COUNTER-FRAUD STRATEGY TOGETHER
- 11.3 REAPING THE BENEFITS
- 11.4 HOW QUICKLY CAN LOSSES BE REDUCED AND BY HOW MUCH?
- 11.5 THE WORLD'S 500 LARGEST COMPANIES
- 11.6 UK FTSE 350 COMPANIES
- 11.7 FRENCH CAC 40 LISTED COMPANIES
- 11.8 GERMAN DAX 100 LISTED COMPANIES
- 11.9 CONCLUDING REMARKS: REAP THE ADVANTAGE!
- FURTHER READING
- END NOTES
- Title: Countering Fraud for Competitive Advantage: The Professional Approach to Reducing the Last Great Hidden Cost
- Release date: April 2013
- Publisher(s): Wiley
- ISBN: 9781119960409