Fraud Prevention Tip #45: Report to the Authorities

Fraud Prevention Tip #45: Report to the Authorities

It comes up in almost every fraud case. Should we tell the police, prosecutors, regulators, licensing bureaus or other external authorities? To be honest, there’s no clear-cut answer. But the issue can and should certainly be debated before a specific case is being pursued. That’s the best time for consideration of ‘what if’ scenarios, including […]

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fraud prevention

Fraud Prevention Tip #44: Prepare for Investigations Before the Alarm Goes Off

Here are a few quick suggestions as you prepare to respond to a fraud incident. Be ready to respond to fraud incidents before they surface. Periods of calm like right now are when you put the pieces in place. Then when wrongdoing or fraud is suspected, you already know what to do. You just execute […]

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preparation for fraud incident

Fraud Prevention Tip #43: Build The Response Team Before It’s Needed

Near our home, there’s a city firehouse. Inside 24 hours a day are trained professionals ready to go when the alarm sounds. Their equipment is maintained in outstanding condition, their trucks are fueled, and their protective jackets, boots and helmets are already in place. They don’t wait for the alarm to go off before thinking […]

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he Anti-Fraud Toolkit Structure

Fraud Prevention Tip #42: Be Ready to Respond

Here’s an exercise that will keep you awake at night. Assume that despite your best efforts at fraud prevention, you get hit anyway. What should you expect when fraud is detected? Explode False Beliefs Start by exploding these three myths: 1. We’re ready to address what might come up 2. The authorities will take care […]

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board members

Fraud Prevention Tip #41: Train Your Board Members

There is an assumption that once an individual is accepted into a Board position, they are qualified to provide governance oversight of the organization’s anti-fraud efforts. But for most Board members, nothing could be further from the truth. History is filled with examples of corporate corruption and fraud at the highest levels that occurred right […]

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