1. Introduction

1.1. This Fraud Response Plan outlines the procedures and controls implemented by Wave Talent to prevent, detect, and respond to fraud within the organisation.

1.2. The purpose of this plan is to ensure a prompt and effective response to any suspected or actual fraudulent activities, protecting the interests of Wave Talent and its stakeholders.

2. Fraud Prevention Measures

2.1. Strong internal controls will be implemented to prevent and deter fraudulent activities, including segregation of duties, regular reconciliations, and mandatory leave policies.

2.2. Regular training will be provided to employees to raise awareness of fraud risks, red flags, and the importance of ethical behaviour.

2.3. Whistleblower mechanisms will be established to encourage employees to report suspected fraud anonymously and without fear of retaliation.

2.4. Background checks will be conducted on all employees to verify their credentials and identify any potential risks.

2.5. Regular assessments will be conducted to identify and mitigate fraud risks.

3. Detection of Suspicious or Fraudulent Activity or Behaviour

3.1. Procedures will be implemented to detect and promptly report suspected or actual fraud.

3.2. Employees will be trained to recognise red flags and signs of potential fraud, such as unexplained financial discrepancies, unusual behavior, or unauthorised access to sensitive information.

3.3. A designated individual or team will be responsible for receiving and investigating reports of suspected fraud.

3.4. All reports of suspected fraud will be treated confidentially, and appropriate measures will be taken to protect the identity of the whistleblower.

4. Prevention of Suspicious or Fraudulent Activity or Behaviour

4.1. Strong internal controls will be implemented to prevent and deter fraudulent activities, including segregation of duties, regular reconciliations, and mandatory leave policies.

4.2. Regular training will be provided to employees to raise awareness of fraud risks, red flags, and the importance of ethical behaviour.

4.3. Background checks will be conducted on all employees to verify their credentials and identify any potential risks.

5. Response to Suspicious or Fraudulent Activity or Behaviour

5.1. Clear communication channels will be established to keep relevant stakeholders informed about the progress and outcomes of fraud investigations.