Abstract

In this practitioner’s perspective on the role of ethics in fraud prevention, I outline the situation that compelled Nedcor Bank in South Africa to establish their own fraud investigation and prevention unit. A brief discussion of the role, functions and achievement of the fraud unit follow this. Then the various components of the bank’s fraud detection and prevention strategies are described. These include the nurturing of a commitment to zero tolerance towards fraud amongst the entire staff, the communication strategy, control mechanisms, and culture change within the bank. These respective dimensions are then examined to reveal the role that ethical values and considerations play with regard to each of them. It is concluded that ethics does not only provide the foundation for the entire strategy, but also forms an integral part of each strategic dimension.