To prevent fraud, auditors and management consultants recommend divisions of duties or a system of checks and balances.
This means that as far as possible, no one person is in charge of a sensitive or important function. For example, a cheque book should not be left in the hands of an employee who has power to decide on payment who is the cheque signatory as well.
Another common example is found in the financial industry in relation to traders - allowing one person to be in charge of trading as well as back room operations (the paperwork involved in the trades). This is of course similar to the Barings Bank situation.
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