FOR3703
Exam
Portfolio 2024
(October/Nove
mber)
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tabbymwesh59@gmail.com
, Exam (elaborations)
FOR3703 Exam Portfolio 2024 (October/November)
Course
Investigation of Selected Crimes and Transgression (FOR3703)
Institution
University Of South Africa
Book
Crime, Gender and Social Control in Early Modern Frankfurt am Main
QUESTIONS This is an essay-type question, and all
questions must be answered. Question 1 Most fraud is
committed online around the world. In 2021, during the
Covid pandemic when people were stuck inside their
houses, the Federal Trade Commission (FTC) reported
the increase of 70% in consumer reports compared to
2020. The consumers lost a total of 5.8 billion rands to
impostor scams and online shopping scams. As the
fraudsters do not only target consumers, they also
frequently target businesses in South Africa. The
Association of Certified Fraud Examiner (ACFE) in 2022
Global Fraud Survey reports that the businesses in South
Africa lost 5% of the revenue to occupational fraud every
year. The median costs of each fraud case were 117
thousand with some heavy outliers that pulled the average
costs to 1, 783000 per fraud case. The industries most at
risk of internal fraud are real estate, wholesale trade and
while the industry’s most at risk of external fraud include e-
, commerce and insurance. However, fraud does not restrict
itself to industry. 1.1. Discuss the principle of effective
fraud risk management on the organisation. (50) 1.2.
Discuss the constitutional and legislative framework
against fraud and corruption. (50)
Question 1: Fraud in South Africa
1.1 The Principle of Effective Fraud Risk Management in an
Organization
Introduction to Fraud Risk Management
Fraud risk management is an essential process that organizations
undertake to protect themselves from the potential financial,
reputational, and operational damage that fraud can inflict.
Fraud can occur in various forms, including occupational fraud,
which is committed by employees, and external fraud,
perpetrated by individuals or entities outside the organization.
The need for effective fraud risk management has never been
more critical, particularly in the digital age where online scams
have surged.
1.1.1 Comprehensive Risk Assessment
The foundation of effective fraud risk management is a thorough
risk assessment. Organizations must identify and evaluate the
specific risks that they face, considering various factors such as
industry vulnerabilities, past incidents of fraud, and potential
threats associated with technology and operations. This process
involves analyzing internal controls, employee behavior, and
external pressures that may create opportunities for fraud. By
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