Question

Which of the following policies are designed to reduce the risk of fraud and prevent other losses in an organization?

A) Separation of duties
B) Acceptable use
C) Least privilege
D) Physical access control

Answer 1

To reduce fraud risk in organizations, policies such as Separation of duties, Least privilege, and Physical access control are implemented. These policies help establish checks and balances, regulate user access rights, and secure physical areas against unauthorized access.

Step-by-step explanation:

The policies designed to reduce the risk of fraud and prevent other losses in an organization include:

1. Separation of duties: This ensures that no single individual has control over all aspects of any critical business process or transaction. By requiring more than one person to complete certain tasks, organizations can prevent unauthorized actions and reduce the risk of fraud.
2. Acceptable use: This policy sets the rules for how employees are allowed to use company systems and resources, which can help to prevent misuse and potential fraud.
3. Least privilege: This security principle involves granting users only the access that they need to perform their job functions, which limits the potential for fraud by reducing the number of individuals who have access to sensitive information.
4. Physical access control: This restricts access to physical areas within an organization to authorized personnel only, which helps protect against unauthorized access and potential theft or fraudulent activities.

Out of the policies listed, Separation of duties, Least privilege, and Physical access control are specifically designed to safeguard an organization against fraud and other losses.