Final answer:
Successful companies should not forgo fraud prevention but instead focus on implementing strong fraud detection programs. These programs can help identify and mitigate instances of fraud, reducing its impact on the company.
Step-by-step explanation:
In the context of fraud prevention in companies, it is important to understand that completely eliminating fraud is impossible due to the need to change human behavior. However, successful companies should not forgo fraud prevention altogether but instead focus on implementing strong fraud detection programs. These programs can help identify and mitigate instances of fraud, reducing its impact on the company.
For example, insurance companies can conduct investigations to prevent insurance fraud, which is one way to address the issue. They can also monitor certain behaviors and offer incentives for businesses to adopt security measures like installing top-level security and fire sprinkler systems. This can lead to lower insurance rates and create an environment that discourages fraud.
By combining effective fraud detection programs with ongoing efforts to change human behavior, companies can work towards minimizing fraud and protecting their operations.