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CRA-4.5.14

Licensees must take reasonable steps to detect and prevent fraud, including by establishing and maintaining a written anti-fraud policy. The anti-fraud policy must, at a minimum, include:

(a) the identification and assessment of fraud-related risk areas;
(b) procedures and controls to protect against identified risks;
(c) allocation of responsibility for monitoring risks and establish real-time/near real-time fraud risk monitoring and surveillance system; and
(d) procedures for the periodic evaluation and revision of the anti-fraud procedures, controls, and monitoring mechanisms.
Amended: April 2023
Added: April 2019