Button / Gee Countering Fraud for Competitive Advantage

The Professional Approach to Reducing the Last Great Hidden Cost
Erscheinungsjahr 2013
ISBN: 978-1-119-96040-9
Verlag: John Wiley & Sons
Format: EPUB
Kopierschutz: Adobe DRM (»Systemvoraussetzungen)

E-Book, Englisch, 208 Seiten, E-Book

Substantially reduce the largely hidden cost of fraud, and reapa new competitive advantage.
As the title suggests, Countering Fraud for CompetitiveAdvantage presents a compelling business case for investing inanti-fraud measures to counter financial crime. It looks at theways of reaping a new competitive advantage by substantiallyreducing the hidden cost of fraud. Aimed at a wide businesscommunity and based on solid research, it is the only book to putforward an evidence-based model for combating corporate fraud andfinancial crime.
Despite its increase and capture of the news headlines,corporate fraud is largely ignored by most organizations. Fraud isresponsible for losses of up to nine percent ofrevenues--sometimes more. Yet, most organizations don'tbelieve they have a problem and don't always measure fraud losses.This highlights an area for capturing a competitiveadvantage--with the right counter-fraud strategy, massivelosses due to the cost of fraud can be reduced for a fraction ofthe return.
* Advocates a new model for tackling fraud and illustratestheories with best practice examples from around the world
* The authors have close links with the Counter FraudProfessional Accreditation Board: Jim Gee is a world-renownedexpert in the field, and has advised private companies andgovernments from more than 35 countries. Mark Button is Director ofthe leading Centre for Counter Fraud Studies, PortsmouthUniversity, U.K.
Organizations are losing millions of dollars to fraud. This bookoutlines a comprehensive approach to reducing financial crime andhelping return some of the revenue lost to the cost of fraud.

Autoren/Hrsg.

Button, Mark

Gee, Jim

Inhaltsverzeichnis

1 Introduction 1
1.1 Book Outline 4
End Notes 5
2 The Fraud Problem 7
2.1 Introduction 7
2.2 The Fraud Problem 7
2.3 The Extent of Fraud 15
2.4 Trends in Fraud 20
2.5 The Impact of Fraud 25
2.6 Conclusion 29
Further Reading 29
End Notes 29
3 The Fraudster and the Culture of Fraud 33
3.1 Introduction 33
3.2 Understanding the Fraudster 33
3.3 Cultures and Fraud 43
3.4 Conclusion 46
Further Reading 47
End Notes 47
4 The Resilience to Fraud 51
4.1 Introduction 51
4.2 National Resilience 51
4.3 Organisational Resilience 56
4.4 Further Research 63
4.5 ACFE Research 63
4.6 Understanding the Problem: Fusing the Fraudster, theCulture, and the Structures of Resilience 65
4.7 Conclusion 66
Further Reading 67
End Notes 67
5 Measuring Fraud Losses and Tailoring the Strategy69
5.1 Introduction 69
5.2 The Problem with Risk Management 70
5.3 Measuring Fraud 71
5.4 Wider Benefits of Fraud Measurement 81
5.5 Conclusion 82
Further Reading 83
End Notes 83
6 Creating an Anti-Fraud Culture and Preventing Fraud85
6.1 Introduction 85
6.2 Situational Measures 85
6.3 Creating an Anti-Fraud Culture 94
6.4 Conclusion 98
Further Reading 99
End Notes 99
7 Detecting Fraud and Investigating Professionally103
7.1 Introduction 103
7.2 The Costs of Investigation 103
7.3 Who will Investigate? 104
7.4 Proactive Investigations 107
7.5 Reactive Investigations 113
7.6 Conducting Fraud Investigations 115
7.7 Psychology and Investigation 125
7.8 Conclusion 128
Further Reading 129
End Notes 129
8 Sanctioning Fraudsters and Pursuing Redress 131
8.1 Introduction 131
8.2 Understanding Fraudsters and the Place of Deterrence 131
8.3 The Sanctions Tool Box 133
8.4 Publicising Sanctions 141
8.5 Conclusion 143
Further Reading 143
End Notes 143
9 Enhancing Performance through Counter-Fraud Metrics145
9.1 Introduction 145
9.2 New Ways of Thinking About Security and Fraud 145
9.3 Developing a Counter-Fraud Metrics Programme 150
9.4 Define Overall Objectives/Metrics 150
9.5 Decide Metrics That Meet Those Objectives 151
9.6 Develop Strategies for Generating Metrics 159
9.7 Establish Benchmarks and Targets 160
9.8 Determine How Metrics will be Reported 160
9.9 Create Action Plan 161
9.10 Review/Refine Cycle 161
9.11 Challenges and Critique of Metrics 162
9.12 Conclusion 163
Further Reading 163
End Notes 163
10 The Counter-Fraud Professional 165
10.1 Introduction 165
10.2 Counter-Fraud Professional Infrastructure 165
10.3 The Essence of the Counter-Fraud Professional 171
10.4 Redefining the Counter-Fraud Professional 176
10.5 The Counter-Fraud Department 177
10.6 Conclusion 178
Further Reading 178
End Notes 179
11 Reaping the New Competitive Advantage 181
11.1 Introduction 181
11.2 Bringing the Counter-Fraud Strategy Together 181
11.3 Reaping the Benefits 183
11.4 How Quickly can Losses be Reduced and by How Much? 185
11.5 The World's 500 Largest Companies 187
11.6 UK FTSE 350 Companies 188
11.7 French CAC 40 Listed Companies 190
11.8 German DAX 100 Listed Companies 191
11.9 Concluding Remarks: Reap the Advantage! 191
Further Reading 192
End Notes 192
Index 195

Über Autor(innen)

Professor Mark Button is Director of the Centre forCounter Fraud Studies at the Institute of Criminal Justice Studies,University of Portsmouth. Mark has written extensively on counterfraud and private policing issues, publishing many articles,chapters and completing five books with two forthcoming. Some ofthe most significant research projects include leading the researchon behalf of the National Fraud Authority and ACPO on fraudvictims; the Department for International Development on fraudmeasurement, Acromas (AA and Saga) on 'Cash-for-Crashfraudsters', the Midlands Fraud Forum, Eversheds and PKF on'Sanctioning Fraudsters'. Mark has also acted as aconsultant for the United Nations Offices on Drugs and Crime onCivilian Private Security Services. Mark also holds the position ofHead of Secretariat of the Counter Fraud Professional AccreditationBoard. Before joining the University of Portsmouth he was aResearch Assistant to the Rt Hon Bruce George MP specialising inpolicing, security and home affairs issues. Mark completed hisundergraduate studies at the University of Exeter, his Masters atthe University of Warwick and his Doctorate at the London School ofEconomics.
Jim Gee is Director of Counter Fraud Services at BDO LLP,the leading accountancy and business services firm and Chair of theAdvisory Board and Visiting Professor at the Centre for CounterFraud Studies at University of Portsmouth. During more than 25years as a counter fraud specialist, he led the team which cleanedup one of the most corrupt local authorities in the UK - LondonBorough of Lambeth - in the late 1990s; he advised the House ofCommons Social Security Select Committee on fraud and Rt. Hon.Frank Field M.P. during his time as Minister of State for WelfareReform; between 1998 and 2006 he was Director of Counter FraudServices for the Department of Health and CEO of the NHS CounterFraud Service, achieving reductions in losses of up to 60% andfinancial benefits equivalent to a 12 : 1 return on the costs ofthe work. Between 2004 and 2006 he was the founding DirectorGeneral of the European Healthcare Fraud and Corruption Network;and he has since worked as a senior advisor to the UKAttorney-General on the UK Government's Fraud Review as wellas delivering counter fraud and regulatory services to publicbodies and private companies both in this country andinternationally. He has worked with organisations from more than 35countries to counter fraud including for mining companies in Africaand South East Asia. He has also advised the Chinese Governmentabout how to measure, pre-empt and reduce the financial cost offraud.