Feature
PwC FRAUD ACADEMY
OPENS ITS DOORS
PricewaterhouseCoopers LLP has launched a unique new forum, which allows
businesses to share information on how best to prevent, detect and investigate
fraud, bribery and other economic crime.
John Tracey THE PwC Fraud Academy combines urgently need to look to at the mobility of digital technology by
knowledge, thought leadership measures they have in place to businesses has changed the game.
and best practice with technical resist this trend.” Over the last two decades certain
updates on fraud prevention and The launch of the new academy types of fraud have evolved from
detection issues. It will also offer comes at a time of significant the use of Tippex and fax machines
individuals the opportunity to change in the world of regulation to high-tech digital operations.
meet periodically with other and enforcement. For example, the Companies that have not
members to exchange ideas and incoming Bribery Bill which was considered data loss as a fraud
experiences. discussed in detail at the opening threat need a wake up call and
Commenting on the launch, John event seeks to replace out-of-date should start taking some basic
Tracey, National Chairman of the legislation with a purpose built steps now to protect themselves.”
PwC Fraud Academy and Partner in system appropriate for dealing “But technology is just one
Forensic Services at PwC with companies operating in a example of how the landscape has
Birmingham, said: global market place. Under these changed and how the speed of
“We wanted to provide a forum new rules, companies and directors that change can render the
for the business community to will be firmly in the firing line for preventative systems and
share knowledge at a time of not just what happens in their own procedures of businesses obsolete.
unprecedented change in how organisations but will also be held By joining the PwC Fraud Academy,
fraud and other economic crime is accountable for conduct in their companies will be better informed
perpetrated and combated. sales channels and supply chains. and can prepare themselves to
“The ebbing economic tide is Furthermore, the twin forces of respond to the threat of fraud in
exposing frauds that lay globalisation and technology have the most appropriate and effective
submerged and were sustainable also had a permanent impact on way.”
when times were good. For some the nature of business fraud and Businesses interested in learning
people the pressure to ‘cross the economic crime. more about the PwC Fraud
line’, or to turn a blind eye while John Tracey adds: “The rapid Academy should visit the website
others do so, is growing. Businesses increase in the prevalence and www.pwcfraudacademy.com. RF
LOSS IN TRANSLATION
“‘One-Stop’ delivers what we
wanted and came from a very can-
do’ company that we have worked
ORIS helps The Carphone Warehouse introduce multi-tongue new
with for many years,” says Justin
technology to capture losses and assess business risk across Europe
Firlotte, Carphone’s European LP &
Fraud Support Manager.
PROFIT loss is the same in any has been so successful that it was Andrew Wood, Managing
language so the cultural approach shortlisted for advances in Loss Director and ORIS founder, adds:
to the $98 billion global shrinkage Prevention at the 2009 Retail “The tool also provides a Top 10
Andrew problem has to translate across all Week Technology Awards. stores priority list for the LP teams
Wood, borders. Developed with built-in task and to regularly visit them and because
founder of That is why The ORIS Group has content management tools to the data is available to all LP
the ORIS helped The Carphone Warehouse allow Carphone’s loss prevention managers and senior level staff can
Group to introduce a bespoke anti-shrink executives to update the key see how they compare to other
technology in nine European performance indicators (KPIs) areas. One-Stop is intuitive and
territories and in six languages for measured, the Margin Erosion built to Carphone’s own
‘at-a-glance’ measurement and Dashboard (MED) also calculates requirements and, as such, adds
management of losses. the costs of staff failure to return new levels of flexibility as well as
Written by ORIS over two years, airtime contract documentation an ability to drill-down into more
‘One Stop’ is a web-based on time, the cost of which granular details that the business
‘dashboard’ system that keeps generates financial penalties to the wanted to help manage shrink and
shrink in focus across Europe and business. risk.” RF
ISSUE 4 AUGUST 2009 • 33
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