Anti-Fraud/Post-Fraud Operations and Anti-Threat/Post-Threat Operations
RSI created the AFPFO/ATPTO concept in the 1970s. They have evolved over the years along with the frauds and threats they are designed to address.
The AFPFO and ATPTO each consists of three components:
- Component 1: A policy consisting of anti-fraud (or anti-threat) methodology, guidelines and a plan combining a proactive automated and manual system to reduce the potential for a fraud or threat to occur.
- Component 2: A policy consisting of post-fraud (or post-threat) methodology, guidelines and a plan on how to contain, remedy and mitigate (reduce) any and all damages resulting from the fraud (or threat) when it happens. This policy applies to people and assets both internal and external to the company, including but not limited to assets, equipment, holdings, customers, clients, media and regulatory agencies.
- Component 3: A Post Maintenance Operation (PMO) methodology, addressing issues AFTER the AFPFO has been implemented such as, but not limited to:
– Making the policy better, more effective and more efficient
– Challenging the security and efficiency of the entire AFPFO/ATPTO
– Constantly challenging the readiness of all components of the AFPFO/ATPTO
– Keeping up with the current changes and additions in types of fraud (or threats)
– Updating the AFPFO/ATPTO to comply with regulatory requirements, as well as applicable company requirements
– Keeping the training documentation, systems and procedures current
– Performing mock testing of the AFPFO under actual (unprepared) conditions
In addition, the AFPFO/ATPTO must:
- Go beyond what regulatory requirements mandate
- Take into account the “big picture,” that being all Company Requirements
- Be able to effectively and efficiently deal with a fraud or threat within the first 24-72 hours after discovery (the most critical period)
Contact Research Solutions today and inquire about a consultation.
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