Think like a thief
My column in tomorrow’s Wisconsin Law Journal is entitled Be Prepared: Think Like a Thief. The article discusses the fraud triangle and how employers might use that to help their fraud prevention efforts. In order to prevent fraud, one must understand the pieces of the fraud puzzle.
The fraud triangle consists of three parts, each representing a side of the triangle:
- Opportunity – the chance to steal something and conceal the theft
- Motivation – the force leading someone to steal (a financial need, a desire for revenge, a substance abuse problem)
- Rationalization – the thought process that makes a theft “okay” to commit
Fraud prevention efforts will be most effective when they eliminate opportunities and motivation. Make a secure workplace with controls over data, assets, and procedures. Follow that with equitable practices and policies that help employees feel they are treated fairly.
