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
- Emphasize “prevention” of fraud; it’s much less costly than the alternative.
- Understand…and “break” the Fraud Triangle.
- Segregate incompatible duties.
- Minimize the risk of hiring an embezzler.
- Develop and maintain a fraud policy in your organization.
- Be aware of the fraud tree and most common workplace fraud schemes.
- Understand and be alert for the “red flags of fraud.”
- Implement an anonymous 24-hr “fraud hotline.”
- Don’t place excessive trust in financial staff, managers…or executives.
- Become a Certifed Fraud Examiner.
I also shared this brief video clip: What to look for in an embezzler