Preventing and Detecting Occupational Fraud: Tips and Anti-Fraud Controls

The video tutorial discusses the detection and prevention of occupational fraud. It highlights that tips are the most effective detection method, followed by management reviews and internal audits. Surprisingly, external audits detect only a small percentage of frauds. The tutorial emphasizes the importance of implementing anti-fraud controls, such as hotlines and internal audits, especially in small organizations. It concludes that effective anti-fraud measures can significantly reduce losses and detect fraud earlier. Key takeaways include setting up anonymous tip hotlines and enhancing anti-fraud controls.

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