{"id":3266,"date":"2022-08-13T08:52:36","date_gmt":"2022-08-13T08:52:36","guid":{"rendered":"https:\/\/www.akgvg.com\/blog\/?p=3266"},"modified":"2022-09-02T06:55:07","modified_gmt":"2022-09-02T06:55:07","slug":"fraud-occurrence-and-placebo-effect","status":"publish","type":"post","link":"https:\/\/www.akgvg.com\/blog\/fraud-occurrence-and-placebo-effect\/","title":{"rendered":"Fraud occurrence and placebo effect"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-3270\" src=\"https:\/\/www.akgvg.com\/blog\/wp-content\/uploads\/2022\/08\/Fraud-Occurrence-and-Placebo-Effect.jpeg\" alt=\"fraud and risk management\" width=\"1000\" height=\"1000\" srcset=\"https:\/\/www.akgvg.com\/blog\/wp-content\/uploads\/2022\/08\/Fraud-Occurrence-and-Placebo-Effect.jpeg 1000w, https:\/\/www.akgvg.com\/blog\/wp-content\/uploads\/2022\/08\/Fraud-Occurrence-and-Placebo-Effect-300x300.jpeg 300w, https:\/\/www.akgvg.com\/blog\/wp-content\/uploads\/2022\/08\/Fraud-Occurrence-and-Placebo-Effect-150x150.jpeg 150w, https:\/\/www.akgvg.com\/blog\/wp-content\/uploads\/2022\/08\/Fraud-Occurrence-and-Placebo-Effect-768x768.jpeg 768w, https:\/\/www.akgvg.com\/blog\/wp-content\/uploads\/2022\/08\/Fraud-Occurrence-and-Placebo-Effect-230x230.jpeg 230w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/p>\n<p>The placebo effect term is very well known in the medical world as this term is used to provide make\u2010believe or an illusionary treatment to the identified patients.<\/p>\n<p>With the usage of certain substances like sterile water or a pill of sugar, a perceived beneficial impact is created. It does not have any medical significance however, in some cases, they tend to produce real responses. What works and a key element is the expectations of the patient. The more they expect the treatment to work, the more chances of exhibiting a placebo response are higher. It makes the patient comfortable, however, in reality, it does not have a direct physical effect on the disease itself.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-3267\" src=\"https:\/\/www.akgvg.com\/blog\/wp-content\/uploads\/2022\/08\/image1-1.jpg\" alt=\"Placebo Effect\" width=\"800\" height=\"400\" srcset=\"https:\/\/www.akgvg.com\/blog\/wp-content\/uploads\/2022\/08\/image1-1.jpg 800w, https:\/\/www.akgvg.com\/blog\/wp-content\/uploads\/2022\/08\/image1-1-300x150.jpg 300w, https:\/\/www.akgvg.com\/blog\/wp-content\/uploads\/2022\/08\/image1-1-768x384.jpg 768w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><\/p>\n<p>&nbsp;<\/p>\n<p>You must have seen notices such as \u201cYou are under CCTV surveillance\u201d or \u201cBeware of Dogs\u201d. This notice puts a potential thief on high alert even if CCTV is not in working condition or the dog may be a small harmless puppy.<\/p>\n<p>Similarly, in the corporate environment if <span style=\"text-decoration: underline;\"><strong>effective awareness is created<\/strong><\/span> amongst employees and third parties that:<\/p>\n<ul>\n<li>Strict measures &amp; controls exists for fraud detection, and<\/li>\n<li>Management has zero tolerance for<\/li>\n<li>Management is committed to the fight against bribery and corruption<\/li>\n<\/ul>\n<p>This can have a great deterring effect on fraudsters\u2019 minds even if such measures do not exist or may not be in force. This instills fear in the mind of fraudsters and can help reduce fraud occurrence. E.g.<\/p>\n<ul>\n<li>Management\u2019s announcement of surprise visits late at night OR<\/li>\n<li>Publicizing instances of wrongdoers caught and penalized<\/li>\n<\/ul>\n<p>This is a <strong><a href=\"https:\/\/www.akgvg.com\/forensic-accounting.php\">fraud and risk management<\/a><\/strong> exercise and extensively used by consultants and risk management experts during mystery audits, and investigation projects especially in cases like<\/p>\n<p>product adulteration, IP infringement, and counterfeiting of the products in the supply chain business process which exists across various locations PAN India basis.<\/p>\n<p><strong>This content is meant for information only and should not be considered as advice, legal opinion, or otherwise. <a href=\"https:\/\/www.akgvg.com\/\">AKGVG &amp; Associates<\/a> does not intend to advertise its services through this.<\/strong><\/p>\n<p>Posted by<\/p>\n<p>CA Ankit Salot<\/p>\n<p>AKGVG &amp; Associates<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The placebo effect term is very well known in the medical world as this term is used to provide make\u2010believe or an illusionary treatment to the identified patients. With the usage of certain substances like sterile water or a pill of sugar, a perceived beneficial impact is created. It does not have any medical significance&#8230;<\/p>\n","protected":false},"author":1,"featured_media":3270,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[102],"tags":[669,689,690],"class_list":["post-3266","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-forensic","tag-fraud-and-risk-management","tag-fraud-occurrence","tag-placebo-effect"],"_links":{"self":[{"href":"https:\/\/www.akgvg.com\/blog\/wp-json\/wp\/v2\/posts\/3266","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.akgvg.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.akgvg.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.akgvg.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.akgvg.com\/blog\/wp-json\/wp\/v2\/comments?post=3266"}],"version-history":[{"count":4,"href":"https:\/\/www.akgvg.com\/blog\/wp-json\/wp\/v2\/posts\/3266\/revisions"}],"predecessor-version":[{"id":3272,"href":"https:\/\/www.akgvg.com\/blog\/wp-json\/wp\/v2\/posts\/3266\/revisions\/3272"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.akgvg.com\/blog\/wp-json\/wp\/v2\/media\/3270"}],"wp:attachment":[{"href":"https:\/\/www.akgvg.com\/blog\/wp-json\/wp\/v2\/media?parent=3266"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.akgvg.com\/blog\/wp-json\/wp\/v2\/categories?post=3266"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.akgvg.com\/blog\/wp-json\/wp\/v2\/tags?post=3266"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}