Fraud prevention solutions Текст научной статьи по специальности «Экономика и бизнес»

As far as the channels where fraud is occurring, executives suspect that patterns may be changing, but they are unable to measure this because systems are not in place for issuers to track this type of transactional information. Executives also remain skeptical that recent and upcoming changes in regulation and the payment environment will have the predicted effects on fraud mitigation, and warn against complacency as a result.

Corporate Financial Compliance will help FIs to know to what extent a transaction is legitimate as follows:

• Tracking fraud and its related costs by channel and payment method

• Layered approach to fraud prevention.

• mCommerce merchants, and those considering accepting the channel, should implement fraud prevention solutions that specifically address threats to this channel.

• Be ahead of data security requirements.

• Raise thresholds for card fraud detection at the POS, at least temporarily.

• Do not rely on EMV to eliminate fraud—tokenization must be used in conjunction with 3-D Secure because multi-channel merchants are attractive data-breach and fraud targets.

Having the sound Corporate Financial Compliance is very important from my perspective. In the area of process compliance checking, the research community has conceptualized many potential solutions as artifacts. Corporate Financial Compliance serves as a tool for sustainable growth, capital consolidation, earnings, and market profitability. Therefore, Kazakhstan FIs must seek to implement Corporate Financial Compliance which must be based upon loyal behavior and trust among employees and clientele. As developed as separate guidelines Corporate Financial Compliance is a key to the profound corporate culture; will provides measures and indicators for early identification and fair treatment of fraud and corrupt practices associated with the willful and/or negligent conduct of top management or employees and adoption of remedial measures.[2]

Summarizing, I would like to pay your attention to the fact why corporate financial compliance is essential for us, why it has a strong effect for FIs - the reason for this is evident. The history has shown us that any felony and abuse lead to a catastrophe. And we must remember about this. That's why corporate financial compliance must be a 'Sword of God' cutting all evil and leading to order and prosperity of our Kazakh financial enterprises.

Bibliography:

1. Corporate Lawbreaking and Interactive Compliance: Resolving the Regulation-Deregulation Dichotomy, by Jay A. Sigler and Joseph Murphy, 2014-2015 ed. - p. 145

2. Article 'Corruption and fraud destroy second-tier banks of Kazakhstan' by Alexandr Vorotilov, Forbes Kazakhstan

© ro.K. Ann6eKOBa, 2015

УДК 336.025

Ю.К. Алибекова

Магистрантка 2-го курса, кафедра «финансы и учет»

Университет КазГЮУ Г. Астана, Республика Казахстан

FRAUD PREVENTION SOLUTIONS

Аннотация

Currently, business ethics and integrity of top managers and employees are often under a big question, so we cannot rely on them. Non-compliant behavior of top management and employees related to fraud and corrupt practices lead to huge financial losses, loss of reputation and litigations. Incidents of internal fraud and embezzlement are happening in every business imaginable. Fraud prevention solutions we recommend are the fundamental for corporate financial compliance. All stakeholders must be aware of corporate financial compliance.

Ключевые слова

Corporate financial compliance, fraud, business ethics

Currently, business ethics and integrity of top managers and employees are often under a big question, so we cannot rely on them. Non-compliant behavior of top management and employees related to fraud and corrupt practices lead to huge financial losses, loss of reputation and litigations. Incidents of internal fraud and embezzlement are happening in every business imaginable. While the costs associated with these crimes are impossible to measure, many experts believe the cost of fraud has climbed into the high multibillion-dollar range.

It is equally troublesome to discover that just a few financial-control breakdowns and management failures allowed the majority of those criminal exploits to continue for several years beyond the fraudster's initial unlawful act. No wonder the cost of fraud is so high—and rising!

Equally troublesome is the fact that actual case histories show that the majority of internal fraud cases are brought to light by a "tipster" or discovered strictly by accident—not through the alertness of management or others.

As result of the tough economic times in which we live, increases in employees' situational pressures and employers' cutbacks in personnel combined with the consolidations of critical job functions—opening the door to the potential fraudster— employers should expect internal fraud to increase and further elevate the cost of fraud.

It is wrong to believe that Financial Institutions (FIs) are so secure and tightly controlled that they never have theft problems. The potential for internal fraud in banks is very real. No matter how secure you perceive your bank's operation—there is always the possibility of crimes. Unfortunately, most FI officials rarely consider the possibility of internal fraud in banks. Corporate Financial Compliance is a completely new phenomenon. Therefore, it must become a customary practice. We strongly recommend using the following definition:

Corporate Financial Compliance is an integrity-based principle of doing business within a financial institution in accordance with the laws, rules, codes, standards (IFRS) and internal documents.

Corporate Financial Compliance will help to make such crimes as internal fraud preventable. The growth of internal fraud —and in many cases its ability to go unnoticed for years—clearly signifies that those fraud prevention solutions used today to combat these crimes are highly suspect at best.

The most important result of implementing Corporate Financial Compliance will be to predict adverse "surprises" and make crimes preventable. Corporate Financial Compliance is not waste of time and money since it will always have a strong financial, economic and social effect for our emerging market.[1, page 233]

As histories show, modern Kazakhstan FIs are tired of all shocks and turmoil happening in our society, which have negative impact not only on a certain legal entity but also on the society in general. Let us remember BTA Bank and/or Enron's case. The big financial effect arising from non-compliant behavior is that a lot of people lost their money and jobs, and the societies and investors lost their trust.

It is a well-known "secret" that the most effective fraud prevention solutions center on management's involvement. The growth of internal fraud —and in many cases its ability to go unnoticed for years—clearly signifies that those fraud prevention solutions used today to combat these crimes are highly suspect at best. For example:

• The total annual losses to internal fraud and embezzlement are astronomical. You don't get such huge numbers unless those current fraud prevention solutions are drastically flawed.

• It is common for several years to elapse between the time the initial act took place and the day of the scheme's discovery. Another sign that fraud prevention solutions are inadequate.

• Many managers do not have adequate knowledge regarding how acts of internal fraud and embezzlement occur and what fraud prevention solutions work best within their operation.

We recommend to use these fraud prevention solutions that really work:

• Pre-employment Screening: The first step in preventing dishonesty is taken at the point of hire. When it comes to hiring for positions of trust—including finance and other cash-and-asset-sensitive jobs, a thorough background screening process is critical.

• Climate of Honesty: Every manager has an enormous influence on the climate of honesty and the ethical conduct of every person in the business. As opportunities present themselves, openly discuss with employees your operation's definition of honesty. Take nothing for granted.

• Confidential-Hotline Programs: Seriously consider implementing a hotline program. Keep in mind that the greater majority of internal fraud that is uncovered happens either by accident or through a "tipster's" information.

• Communications: Our research concluded that one of the most effective fraud prevention solutions was to discuss this problem and involve your employees in working up reasonable fraud prevention solutions during group meetings. Education and re-education are integral.[2]

Summarizing all the above, we note that all business units of a bank and all the staff personally are interested in compliance. It remains to put this idea in the head of the bank top management, which still pay insufficient attention to these risks and their management. Список использованной литературы:

1. Corporate Lawbreaking and Interactive Compliance: Resolving the Regulation-Deregulation Dichotomy, by Jay A. Sigler and Joseph Murphy - 1996, page 233

2. http : //www .oveon.ru/credit_cards/sxemyi_maxinaczij _s_plastikovyimi_kartami

© Ю.К. Алибекова, 2015

УДК 334.012.2

М.Г. Ананидзе

студентка 4 курса кредитно-экономического факультета Финансового университета при Правительстве Российской Федерации

Г. Москва, Российская Федерация

ЗНАЧЕНИЕ ФИНАНСОВОЙ СРЕДЫ ПРЕДПРИНИМАТЕЛЬСТВА В ДЕЯТЕЛЬНОСТИ ОРГАНИЗАЦИИ. ЕЕ ХАРАКТЕРИСТИКА И КЛАССИФИКАЦИЯ.

Аннотация

В статье приведены определение и характеристика финансовой среды предпринимательства, показана ее классификация. Автор подчеркивает необходимость в изучении данных явлений для грамотной и слаженной работы любого предприятия, которое действует в рамках рыночной системы экономических отношений.

Ключевые слова

Финансовая среда предпринимательства, макросреда, микросреда, внешняя среда предпринимательства, внутренняя среда предпринимательства. В современных условиях развития рыночной экономики предпринимательская деятельность представлена в качестве сложной системы отношений по поводу создания стоимости. Для анализа деятельности предприятия и его взаимодействия с остальным миром рассматривают среду, в которой существует бизнес. Иными словами, данную среду называют предпринимательской. В основе производственной деятельности любой компании находятся отношения. Отношения могут быть, например, как между менеджерами компании и ее работниками, так и между поставщиками и самой организацией. [1] Финансовая среда предпринимательства представляет собой комплекс многосторонних и обратных деловых связей предприятия с субъектами и объектами финансовых отношений. В данный комплекс отношений входят отношения в сфере образования, формирования, распоряжения и использования финансовых ресурсов. Действия, совершенные в рамках финансовой среды предприятия, оказывают воздействие на управление финансовой деятельностью предприятия через влияние на возможность предприятия размещать финансовые ресурсы, а также получать прибыль.

Финансовую среду предпринимательства, как правило, классифицируют на две категории: макросреда и микросреда. Микросреда - это совокупность таких факторов, которые напрямую относятся к конкретному предприятию. К числу данных факторов или субъектов обычно относят поставщиков, маркетинговых посредников, клиентуру, отраслевых конкурентов, а также контактные аудитории. Под контактными