March 2014
Beginner
316 pages
7h 48m
English
Content preview from Fraud Prevention and Detection
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FRAUD PREVENTION AND DETECTION
192
• Risk reduction can be achieved through a myriad of business
decisions and often entails steps to diversify processes or to estab-
lish backup processes or early intervention responses.
• Risk sharing is commonly achieved through insurance or hedg-
ing strategies. Joint ventures can serve this purpose and, in the
insurance industry itself, reinsurance is a method of risk sharing.
• Risk acceptance is the strategy of no action, which can lend itself
to situations where sharing or reduction lead to costs exceeding
the probability- weighed impact of the event itself.
These four types of risk responses can serve ...
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