"No manager can guarantee that fraud will not happen " "All that can be expected is that he or she acts prudently" "The busiest managers are often the easiest to deceive" "Experience usually arrives only after it is needed "

Two types of fraud Some frauds occur day in-day out and erode profits. On average these erosive frauds amount to between two and five percent of turnover. In an increasingly tough market these losses are worth saving and they can be through non-intrusive, applied controls. Cobasco will show you how. Figure 1: Types of Fraud. Please click picture to enlarge Other frauds and serious regulatory breaches, which are relatively rare, can result in catastrophe. Enron, WorldCom and others are examples and there are hundreds more every year that do not hit the headlines. Focused intelligence and applied controls also reduce these high-criticality but low probability risks. Cobasco will show you how and provide you with practical support when you need it. Profiles of fraud Fraud can often strike good organisations and takes place under the noses of effective managers. The reason for this is simple. It is that the fraudsters have limitless time and the incentive to pay attention to detail whereas honest people, who place trust in them, do not. In this gap, fraud flourishes. Fraudsters do not have an unlimited menu of opportunities and what they do, when and how they do it, fits recognisable profiles. Preventing and detecting fraud is simply a matter of knowing where to look and what to look for. Cobasco’s massive experience of, and piercing insight into, fraud is willingly transferred to clients to minimise risks and optimise profits.