Fraud

Objectives

On completion of this tutorial, you will be able to:

• Define fraud and understand why it is committed

• Compare internal and external fraud

• List some common types of internal and external fraud

• Identify the policies and procedures an organization can put in place to reduce its exposure to fraud

Tutorial Overview

Fraud is a crime in which deception is used to gain a dishonest advantage over another person or entity. It takes many forms, including embezzlement, theft, corruption, and cyber fraud. An organization faces a fraud risk from its own employees as well as from people outside the organization.

The consequences for an organization that commits fraud include reputational damage, loss of customers, and large fines. Individuals that commit fraud can be subject to stiff penalties, including imprisonment. Victims of fraud also suffer from loss or damage.

This tutorial provides a high-level overview of fraud and discusses anti-fraud measures organizations can take.

Prerequisite Knowledge

None

Tutorial Level

Introductory

Tutorial Duration

55 minutes