All too often our role is similar to the ambulance at the bottom of the cliff. Typically we are called in after an organisation has experienced a problem or suspects that there might be an issue with an employee. We therefore always welcome the chance to discuss potential issues with clients and prevent fraud occurring rather than investigate problems afterwards.
How we can help you
Our services fall into the following categories:
- Local and overseas pre-employment screening and background verification checks
- Drafting, implementing and communicating fraud policies
- High level or detailed fraud risk reviews of an organisation
- Designing and implementing fraud prevention strategies
- Training in fraud prevention, detection and investigation
- Analysis of suspicious transactions
Given that most fraud is carried out by employees, the first stage of fraud prevention is to stop fraudsters entering an organisation’s employment. A thorough process of pre-employment screening using publicly available information can often identify individuals who you may not want in your workforce, despite what their impressive CVs state.
The second stage of fraud prevention is in defining as an organisation what constitutes fraud and communicating that to the employees, usually by way of a fraud policy. This policy will not only define fraud for that organisation, but also set out ethical expectations of employees, and what steps the organisation will take if fraud is suspected or identified.
The third stage of fraud prevention is in the design, implementation and communication of fraud prevention controls and strategies. An organisation must first identify its key risk areas and ensure processes are in place to mitigate the identified risk and prevent losses occurring. Based on our experience in investigating large and small frauds, we are well placed to help evaluate, remediate or augment your anti-fraud programmes by providing an overall fraud risk assessment and by designing and/or testing existing anti-fraud programmes and controls.
Finally, it is often worthwhile offering training to all employees, and in particular the finance function, as to what constitutes fraud and how it is prevented, detected and reported. Coupled with that, proactive testing of an organisation’s systems and the information that they hold by way of suspicious transaction analysis can often highlight inefficiencies or oddities in the way an organisation records its data, as well as identifying fraud before it becomes material in size, thus preventing large losses at a later stage.
