Fraud and financial misconduct are a fact of life in Mexico, with the average Mexican company losing over 7 percent of its annual revenue to fraud. Not surprisingly, interest among Mexican business owners in fraud risk management has never been higher.
A strong anti-fraud stance and proactive, comprehensive approach to fighting fraud is now a must for all Mexico-based organizations.
Prevention is better than cure
To put things in a nutshell, fraud prevention is the baseline of fraud risk management. The roots of prevention are based – as they always have been – on simple controls designed to set a strong ethical tone and limit the opportunity for fraud. But such measures, though necessary, must be part of a comprehensive and ongoing management strategy that includes third-party due diligence, fraud auditing, strong employer-employee communication and robust data analytics.
How we can help
AFAM helps organizations build a solid infrastructure for evaluating, mitigating and monitoring their risk of fraud and misconduct. Our consultants assist clients with building sustainable fraud risk assessment processes and developing anti-fraud programs and controls to meet fiduciary and regulatory responsibilities. In addition, AFAM supports organizations in their efforts to prevent and detect fraud risk at every level, from fraud risk governance and employee training to fraud audits and fraud monitoring programs. In a word, we strive to help organizations face changing global demands with confidence.
AFAM’s unique amalgamation of anti-corruption, fraud risk management and investigative subject matter expertise can strengthen your critical compliance programs. Our fraud risk management and anti-fraud services are designed to help management and audit committees achieve the following:
- Assist in the design of Latin America-wide compliance programs
- Review internal fraud controls, compliance, anti-fraud and corporate ethics programs
- Provide comprehensive and practical advice concerning all aspects of fraud risk management
- Issue compliance reports in relation to fraud risk management and prevention
- Help implement anti-fraud measures to mitigate the risk of fraud as well as other types of misconduct
- Present evolving risk profile to management and audit teams
We’d be happy to discuss ways to help you understand your organization’s vulnerabilities, and establish an appropriate framework to identify and respond to a wide range of risks in the current scenario, including financial crime, fraud and corruption.
To reach a member of our anti-fraud prevention team, send us an email at info(at)antifraud(dot)mx to schedule a no-obligation consultation.