Which of the following statements regarding collusive frauds and financial crimes is most accurate?
1. Internal controls are more likely to be effective in the detection versus the prevention or deterrence of collusive fraud.
2. Collusive frauds, including financial statement fraud, do not present any special challenges to antifraud professionals.
3. Internal controls centered on the segregation of duties are more likely to be effective in the prevention or deterrence of collusive fraud.
4. Collusive frauds are strictly within a single organization.
Frauds and financial crimes that span multiple organizations are by definition complex frauds.