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A Fraud Prevention Policy is a company's formal plan to detect and stop financial crimes, scams, and dishonest behavior. In Danish organizations, these policies align with the Criminal Code (Straffeloven) and outline specific steps to protect assets, data, and reputation from both internal and external threats.

The policy sets clear rules for handling money, reporting suspicious activities, and training staff to spot warning signs. It typically includes whistleblower procedures, following Danish workplace protection laws, and details how the company works with authorities like SØIK (the Danish State Prosecutor for Serious Economic Crime) when fraud occurs. Modern policies also address digital security and comply with EU anti-money laundering requirements.

Your organization needs a Fraud Prevention Policy when handling sensitive financial transactions, customer data, or valuable assets. This becomes especially crucial when expanding operations, hiring new employees, or implementing digital payment systems - all situations that increase fraud risks under Danish law.

The policy proves invaluable during mergers and acquisitions, when seeking investment, or bidding on government contracts. Danish regulators and business partners often require documented fraud controls, particularly in financial services, healthcare, and public procurement. Having this policy ready helps meet SØIK compliance requirements, protects against criminal liability, and demonstrates proper corporate governance to stakeholders.

• Basic Corporate Policy: Core fraud prevention rules covering financial controls, reporting procedures, and staff responsibilities - commonly used by small to medium Danish businesses
• Enterprise-Wide Framework: Comprehensive policies for large organizations, including detailed protocols for multiple departments and cross-border operations
• Industry-Specific Policy: Tailored versions for sectors like banking (meeting Finanstilsynet requirements) or healthcare (protecting patient data)
• Digital Commerce Policy: Focused on online fraud prevention, covering e-payment security and digital identity verification
• Public Sector Version: Specialized format meeting stricter government accountability standards and EU procurement rules

• Board of Directors: Approves and oversees the Fraud Prevention Policy, ensuring it aligns with Danish corporate governance requirements
• Compliance Officers: Draft, update, and monitor policy implementation, coordinating with SØIK when necessary
• Department Managers: Implement policy controls and train team members on fraud detection procedures
• External Auditors: Review policy effectiveness and suggest improvements during annual audits
• Employees: Follow policy guidelines daily and report suspicious activities through designated channels
• Whistleblowers: Protected under Danish law when reporting violations through proper channels

• Risk Assessment: Map your organization's key financial processes and vulnerable areas
• Legal Framework: Review Danish Criminal Code requirements and EU anti-fraud regulations
• Internal Controls: Document existing financial safeguards and reporting procedures
• Stakeholder Input: Gather feedback from department heads about operational challenges
• Industry Standards: Research sector-specific fraud prevention guidelines and best practices
• Technology Review: List digital systems and security measures currently in place
• Training Needs: Identify staff education requirements and compliance tracking methods

• Policy Scope: Clear definition of covered activities, departments, and personnel
• Legal Framework: References to Danish Criminal Code and relevant EU regulations
• Reporting Procedures: Detailed whistleblower protection and incident reporting channels
• Control Measures: Specific financial controls and authorization requirements
• Data Protection: GDPR-compliant procedures for handling sensitive information
• Investigation Protocol: Steps for internal investigations and SØIK cooperation
• Disciplinary Actions: Consequences for policy violations under Danish labor law
• Training Requirements: Mandatory staff education and compliance documentation

A Fraud Prevention Policy differs significantly from a Due Diligence Policy, though both aim to protect organizations from financial risks. The key distinctions lie in their scope, timing, and application.

• Primary Focus: Fraud Prevention Policies target dishonest activities and criminal behavior, while Due Diligence Policies cover broader business risks and verification procedures
• Timing of Application: Fraud policies operate continuously within daily operations, whereas due diligence typically applies to specific transactions or business relationships
• Implementation Scope: Fraud policies mainly govern internal controls and staff conduct, while due diligence extends to external parties and potential business partners
• Regulatory Framework: Fraud policies align with Danish criminal law and SØIK requirements, while due diligence policies follow corporate governance and investment regulations