John Hanson wraps up his series on the Fraud Triangle, today focusing on the perception factor, which though not part of the Fraud Triangle, may be an overriding factor in a person’s decision whether to violate a compliance policy, act unethically or commit a fraud, even when risk levels are high within the three Fraud Triangle factors.
Incorporating the Fraud Triangle into Compliance Risk Assessments: The “Perception” Factor
Incorporating the Fraud Triangle into Compliance Risk Assessments: The “Motivation” Factor
In Part 1 of this series, John Hanson provided an overview of the Fraud Triangle and how incorporating it into compliance risk assessments can improve a compliance program’s assessment and prioritization of compliance risks. Parts 2 and 3 went into more detail concerning the “opportunity” and “rationalization” factors of the Fraud Triangle. Today he focuses on the “motivation” factor of the Fraud Triangle.
Incorporating the Fraud Triangle into Compliance Risk Assessments: The “Opportunity” Factor
In Part 1 of this series, John Hanson provided an overview of the Fraud Triangle and how incorporating it into compliance risk assessments can improve a compliance program’s assessment and prioritization of compliance risks. Now he focuses on the “opportunity” factor of the Fraud Triangle and provides some practical ways to incorporate this factor into a larger compliance risk assessment.
Incorporating the Fraud Triangle into Compliance Risk Assessments
John Hanson, a corporate monitor and former FBI agent that specialized in fraud investigations, introduces the Fraud Triangle that identifies three causes for occupational fraud. Throughout this series, he will share practical thoughts about how compliance professionals can incorporate each factor of the Fraud Triangle into their own compliance risk assessments and programs.
Fraud Flashpoints: “Help Wanted!” – Individual with GRC Investigations Management Experience
Daniel Draz of Fraud Solutions goes over the five common themes in job descriptions for the senior level GRC investigations position.
Fraud Flashpoints: How Functional Are Your Case Management And Event Notification Systems?
Incident and event notification systems foster real time communication among key business stakeholders when an incident or event occurs. Aside from the primary purpose surrounding event notification, these systems also address a company’s compliance, regulatory or contractual obligations concerning event notification, data (breach) protection, ethics violations, investigations and information protection. Secondarily to the event notification [...]
7 Things Companies And Their Ethics And Compliance Teams Can Do Better
During the past few decades while working in various compliance roles, I have been fortunate to witness the impact of ethics and compliance programs that grew from the dedication and ingenuity of the corporate teams that worked hard to design them. Several factors come to the forefront when looking to implement or, in some cases, [...]
The New Age Bounty Hunter – Showdown at the SEC Corral (Part 2)
Dan Draz highlights several areas that involved in testing a company’s compliance programs and processes from a fraud standpoint: internal reporting tools, communication, training and reporting protection.
The New Age Bounty Hunter – Showdown at the SEC Corral (Part 1)
How will your ethics, compliance and hotline programs fare in the fight? In the old days a bounty hunter was someone who pursued fugitives for a reward. The wanted signs in westerns used to say “Wanted – Dead or Alive.” Images of bad guys draped across the back of a horse headed for the sheriff’s [...]
SEC’s Change in Focus: SEC Claims that Negligence is Sufficient to Establish Wrongdoing
The SEC is taking steps to make it easier to pursue investment firms and their executives. According to a September 30, 2011, Wall Street Journal article by Jean Eaglesham, Ken Lench, head of the SEC’s structured and new products enforcement unit, stated that investment firms and their executives may violate their duty of care to [...]
