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A Fraud Policy for Your Employee Benefit Plan? You Betcha!

Posted by Brendan P. Brady CPA

Jun 17, 2015 11:21:07 AM

When not reading about cyberattacks and information security breaches, occupational fraud/employee fraud are stealing headlines (pun intended)

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Topics: Information Security, internal controls, employee benefit plan, employee fraud, occupational fraud, Fraud Prevention, Fraud awareness, risk assessment, fiduciary responsibility, fraud policy



Fraud Awareness & Prevention: Access Control

Posted by William Prohn, CISSP, CISA, CGEIT, CRISC

May 29, 2015 10:56:00 AM

Let's consider the following scenario: Your organization enforces mandatory vacations in an effort to prevent occupational fraud. A current employee is perpetrating a fraud scheme involving a fictitious employee and must access your accounting system bi-weekly to continue the fraudulent activity. Unfortunately for you, employees are allowed to work from home and the fraudster in question simply logs in after-hours and performs the necessary steps to maintain his/her scheme. 

This scenario highlights the importance of IT controls, as we see that the fraudster was able to circumvent the organization's anti-fraud efforts by taking advantage of a weakness in the IT control environment.

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Topics: Information Security, information techology, fraud, forensics, Monitoring, Fraud Prevention, Logging, Access Control, IT Controls, Fraud awareness, Fraud Investigation, Fraud Detection, Administrators





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