Fraud Prevention Tip #49: How to Deal with Employee Theft

Fraud Prevention Tip #49: How to Deal with Employee Theft

Anti-fraud efforts usually lean towards managing external threats. But your largest exposure is from employees simply because they are already inside your circle of trust. When we find out that a trusted employee has been stealing from the organization, it can be really difficult to know how to proceed. The theft in question could be […]

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Fraud Prevention Tip #48: Suggestions for Small Businesses, Small Government and Not-for-Profits

Fraud Prevention Tip #48: Suggestions for Small Businesses, Small Government and Not-for-Profits

Most smaller businesses, local governmental entities, and not-for-profits face the inherent risk of insufficient staff and limited control resources. These special challenges require extra effort by anti-fraud leaders. Here are seven ideas that will help. Create a written Code of Conduct that addresses routine and non-routine situations staff will encounter in performing their work. Provide […]

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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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Avoid Form Over Substance in Managing Risks

Fraud Prevention Tip #39: Avoid Form Over Substance in Managing Risks

I’ve been a professional auditor for almost 40 years. And I’ve seen it over and over and over again – hundreds if not thousands of times. Form over substance controls and behaviors targeting fraud risks. Here’s what I mean: • Two signatures are required on transactions over a threshold like $5,000. But neither signer knows […]

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