Final answer:
The aspect of fraud that usually results in the largest savings is fraud prevention, as it is more cost-effective than detecting and investigating fraud after it has occurred. Prevention reduces the chance of fraud happening, while detection and investigation are costlier steps that occur after the fraud has taken place.
Step-by-step explanation:
The aspect of fraud that usually results in the largest savings is fraud prevention. Preventative measures are generally more cost-effective than detecting and investigating fraud after it has occurred. By implementing strong internal controls, ethical policies, and regular audits, organizations can significantly reduce the occurrence of fraud, hence saving resources that would otherwise be used for detection and investigation.
Fraud detection is important as well, but it is typically more costly than prevention because it involves identifying fraud that has already taken place, which can be time-consuming and expensive. Fraud investigation is another critical aspect, yet it follows detection and often involves legal processes, which can be even more costly.
In summary, focusing on prevention can reduce the chances of fraud occurring in the first place and can save an organization from incurring higher costs associated with detecting and resolving fraud. However, a combination of prevention, detection, and investigation is the best approach to handle and mitigate fraud risks.