The fraud triangle is a model used to explain the factors that contribute to fraudulent behaviour. The three elements of the fraud triangle are opportunity, rationalisation, and pressure.

Opportunity refers to the conditions that make it possible for fraud to occur. This could include weaknesses in internal controls, lack of oversight, or access to sensitive information or assets. Without the opportunity to commit fraud, the other elements of the fraud triangle are less likely to be a factor.

In order to prevent fraud, it is important to identify and address opportunities for fraud. This can involve implementing effective internal controls, regularly monitoring financial transactions, and limiting access to sensitive information or assets. By reducing the opportunities for fraud, organizations can reduce the risk of fraudulent behaviour and protect themselves from financial loss and reputational damage.

As Kiwis, it is fair to say that we are too trusting, and unfortunately, this is why NZ is one of the most targeted countries in the world for scams.