The manufacturing sector is one of the industry sectors most vulnerable to asset misappropriation and fraud. When it comes to instances of fraud, not only are manufacturers at risk for revenue loss—their reputation is also put on the line.
The practical understanding of fraud is not “will it happen to me” but rather “when will it happen to me?” As incidences of large-scale fraud scandals become publicly known, organizations may consider assessing their own fraud detection efforts.
This solution sheet, Mitigating Fraud in Manufacturing: A Comprehensive Approach for Risk Management, outlines a brief approach to fraud risk management including:
- The expense of fraud—how doing nothing can cost you more
- Fraud prevention techniques and controls
- Recommendations for developing an anti-fraud management program