Fraud is behaviour that’s deceptive, dishonest, corrupt or unethical. For a fraud to exist there needs to be an offender, a victim and an absence of control or safeguards. 

NKG are equipped to provide Fraud Risk Management and Fraud Control services to assist clients in preventing, identifying and dealing with fraud risk. An organisations approach to managing fraud risk and corruption should be underpinned by a policy developed with internal and external consultation with appropriate benchmarking against establish best practice prevention programs and standards. It should apply the principles of sound risk management, planning, monitoring and remedial actions.

To address management’s fraud-related concerns, conducting a fraud risk assessment can alleviate such concerns.Such assessments can serve as the cornerstone of an effective antifraud program, acknowledging that the organisation cannot control risks it has not identified. In addition, these assessments can provide an effective means of addressing statutory and/or prudential requirements featuring controls related to the prevention, identification, and detection of fraud. Thorough examination of potential exposures represents an essential first step in alleviating executive-level concerns about fraud risk and reputational harm. When performed correctly, a risk assessment can associate different categories of threats to illuminate a holistic risk exposure and close avenues for fraud before it arrives.

NKG can assist in developing and implementing:

  •    Fraud control policy or review of the existing policy and/or frame work.
  •    Recommend the implementation of policies and/or procedures to mitigate exposure to fraud risk.
  •    Implement training programs for staff on the identification and treatment of fraud.