Preventing Fraud in the Workplace

Taken from Forensic Accounting Today’s Blog (http://jemoore.typepad.com/)

Yesterday, at the conclusion of my “Preventing and Detecting Workplace Fraud and Abuse” presentation at the National Association of Real Estate Companies (NAREC) Annual Conference, I offered the following:

Ten Antifraud Suggestions

  1. Emphasize “prevention” of fraud; it’s much less costly than the alternative.
  2. Understand…and “break” the Fraud Triangle.
  3. Segregate incompatible duties.
  4. Minimize the risk of hiring an embezzler.
  5. Develop and maintain a fraud policy in your organization.
  6. Be aware of the fraud tree and most common workplace fraud schemes.
  7. Understand and be alert for the “red flags of fraud.”
  8. Implement an anonymous 24-hr “fraud hotline.”
  9. Don’t place excessive trust in financial staff, managers…or executives.
  10. Become a Certifed Fraud Examiner.

I also shared this brief video clip:  What to look for in an embezzler

Source:http://jemoore.typepad.com/blog/2009/12/preventing-fraud-in-the-workplace.html#comment-6a00d83494620869e201310f9c9a3e970c

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