1. A general review of robustness of existing systems, procedures and controls in preventing fraud
2. A means for regular testing of such controls
3. The identification of assets (including corporate information and plans) most at risk
4. An appraisal of the threat of fraud on those assets and how it might manifest itself
5. The means of damage limitation and recovery of funds if fraud occurs
6. An unequivocal statement that all fraud offenders will be prosecuted
7. The steps to be taken in the event a fraud occurs and who is responsible for taking action including:
7.1. Assigning responsibility for an instant response to the occurrence
7.2. Recovering funds
7.3. Dealing with the media
7.4. Preserving evidence and reporting to the police
8. Implementation of whistleblower policies and procedures to encourage employees to report any suspicious activity or concerns related to fraud
9. Regular training and awareness programs for employees on fraud prevention and detection
10. Conducting periodic fraud risk assessments to identify and mitigate potential vulnerabilities
11. Regular monitoring and review of financial transactions and internal controls to detect any unusual or suspicious activities
12. Collaboration with external auditors and legal advisors to ensure compliance with regulations and investigate any suspected fraud incidents
13. Establishing a clear reporting structure for fraud incidents and ensuring timely communication with relevant stakeholders
14. Continual improvement of fraud prevention measures based on lessons learned from past incidents and industry best practices.