Due to the magnitude of white-collar crime in this country (R3,6 billion losses annually) and globally, companies can no longer ignore this growing problem. Apart from the huge financial implications, white-collar crime also has other detrimental effects on companies including loss of reputation, the undermining of competitiveness and the erosion of credibility.

Traditionally, companies followed an ex post facto approach to fraud - damage control was attempted only after the fraud had occurred. However, such an approach has numerous disadvantages of which one is the cost element: Huge losses may have been incurred which may be impossible to recover. Forensic investigations may be necessary requiring experts who charge high rates, implying further costs to the company.

* Incentives for implementation and responsibility.

Dr. Janette Minnaar-Van Veijeren has developed a specialist fraud prevention training programme titled: "DEVELOPING A WHITE-COLLAR FRAUD PREVENTION PLAN: HOW TO GET STARTED".

· The drawing up of an action list in the event of fraud.

*It ensures containment of fraud in an organisation.

1. Early awareness creation which includes the training of Directors, CEOs, Managers of companies and other senior staff in the nature of white-collar crimes.

It is proposed that organisations should concentrate on the prevention of white-collar crime in the first instance, rather than discovering that fraud has occurred ex post facto. The advantages of a pro-active approach to crime are numerous and include the following:

PRINCIPLES OF PREVENTATIVE FRAUD CONTROLS

*It deters future crimi

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