A large commercial bank was fined by regulators for fraudulent practices when employees, over a period of time, opened thousands of new accounts for existing clients without the clients' consent. It was later found that employees were given unrealistic new account targets and were aggressively monitored by management on a daily basis.
Which of the following controls would have most likely reduced the likelihood of the fraudulent practice from occurring?

Question

A large commercial bank was fined by regulators for fraudulent practices when employees, over a period of time, opened thousands of new accounts for existing clients without the clients' consent. It was later found that employees were given unrealistic new account targets and were aggressively monitored by management on a daily basis.

Which of the following controls would have most likely reduced the likelihood of the fraudulent practice from occurring?

Anthony Steele · Accepted Answer

An evaluation of the current performance and compensation program.

Anthony Steele · Answer

The performance of background investigations on all existing employees.

Anthony Steele · Answer

The availability of fraud training to all employees.

Anthony Steele · Answer

The availability of an employee whistleblower hotline

Question list

List of questions

Question 1

(0)

Question 2

(0)

Question 3

(0)

Question 4

(0)

Question 5

(0)

Question 6

(0)

Question 7

(0)

Question 8

(0)

Question 9

(0)

Question 10

(0)

Related questions

Question 247 - IIA-CIA-Part1 discussion

Suggested answer: A

0 comments