Let’s start with a question: was fraud prevention ever only a finance function? After 27 years working in fraud prevention across the private, public, and third sectors, I can confidently say the answer is no. Over the years, fraud has fallen under the remit of audit, risk, legal, compliance, governance, security, the chief information security officer (CISO), and, yes, finance.

But wherever it sits, the most important thing is this: fraud prevention must be a collaborative effort, and ultimate responsibility should lie with the senior leadership team and the executive board. This ‘tone from the top’ now matters more than ever.

Fraud is a cultural issue, not just a departmental one