In the context of fraud prevention, what is the purpose of the Fraud Referral Sheet (FRS)?

The Fraud Referral Sheet (FRS) serves a critical role in the realm of fraud prevention by providing a systematic way to document instances of suspected fraud. Its primary purpose is to collect and categorize information related to potential fraudulent activities in a manner that facilitates further review and action by the appropriate authorities. This documentation is essential for ensuring that any such cases are properly tracked and investigated, allowing for a proactive approach to fraud prevention.

While it is important to have accurate financial records, regulatory guidelines, and data trend analysis in any organization, the specific function of the Fraud Referral Sheet is distinctly tied to identifying and recording cases where fraud may have occurred. By centralizing this information, the FRS helps ensure that all relevant details are available for assessment and that the organization can respond appropriately to mitigate any risks associated with fraudulent activities.