When was the last time you took a good look at your company’s finances?
Studies show that most major companies report an incident of fraud every two to three years.
Fraud word cloud
In reality, no organization is immune from the risk of theft from within. If you aren’t looking, you probably should be.
Leg One is Need. Although many of us would like more money, our first inclination isn’t to steal. But life happens. When the need arises, our thought processes can change.
Leg Two is Opportunity. Perhaps there’s a loophole or a weakness in the system. An employee with a need for financial relief sees this as an opportunity to solve his or her problem.
The key to recognizing fraud is to know when employees are perched on the three-legged stool, and then to help them off. Here are some guidelines to assist you:
Evaluate your corporate policy on fraud.
Encourage open communication within your organization.
Educate your employees on the dangers of rationalization, and train them to notice warning signs in others.
Are you ready to stop internal fraud before it starts? I can help you stay ahead of the game. Let’s talk soon.
