The CEO of the Chartered Institute of Personnel and Development, Peter Hurst describes staff fraud as occurring when an individual dishonestly makes a false representation, wrongfully fails to disclose information or abuses a position of trust, with the intent to make a gain or to cause a loss, while undertaking duties for an organisation with which they have a contractual arrangement to provide personal services.
It’s a sad reality that when times are tough, the level of fraud goes up … and right now times are tough. And the tougher it gets the more inventive staff become. Furthermore, the UK is one of the worst countries in Europe for stealing by employees.
For those large Corporates where internal fraud investigators have uncovered an internal fraud, Cressey and Sons can help to validate the net worth of an offending employee in order to understand the likelihood of success in recovering any losses.
For SME’s, be aware of the tell-tale signs of potentially fraudulent activity like:
- Conveniently misplaced or misfiled documents
- Employees working excessive and anti-social hours
- Logging in from home at odd hours
- Employees not taking holiday
Cressey and Sons can also assist with effective, overt or discreet, fraud detection and prevention strategies that will help protect your business.