What is Workplace Fraud?

• Workplace fraud (Corporate fraud, Occupational fraud, Commercial fraud, Employee fraud, Staff fraud) occurs "when a member of staff dishonestly makes false representation, or wrongfully fails to disclose information, or abuses a position of trust for personal gain, or causes loss to others" (CIFAS)
• This covers all extremes from the Leesons and Madoffs of this world through exaggerated expense claims to ‘borrowing’ a company biro (others include: benefit fraud; price fixing; phishing; selling company information; working in another job while on paid sick leave)

Why care about Workplace Fraud?

• Because it’s common: one in five employees commit fraud (Personnel Today)
• Because it costs: in 2009, fraud cost the UK economy over £30 billion (The National Fraud Authority (NFA))
• A cost commonly borne by all of us: on average, fraud costs every UK adult £621 a year, through both its direct effects and the indirect impact of losses being recovered through taxes and the increased prices of products and services

How does a Workplace Fraud Investigation work?

• When workplace fraud has been uncovered (typically through a forensic or fraud audit), an Investigator is sourced and an objective fact-find takes place with evidence analysed against the company’s policies and procedures
• This high-quality review – with conclusions, findings and recommendations, depending on requirements – is compiled into a report, proof-read and quality checked for robustness and consistency to underpin subsequent stages of the process – even court-based procedures
• The line manager then takes action with confidence, consistent with policies and procedure

How People Resolutions can help:

• Planning: Conducting fraud risk assessments including an in-depth look at processes, procedures and technologies; helping to formulate and communicate workplace fraud policies and procedures
• Prevention: Fraud awareness training for key personnel and the training of internal Investigators to act quickly when workplace fraud arises
• Resolution: Sourcing impartial fraud Investigators who can conduct quick and professional investigations that save and recover money, while protecting employees, managers and the organisation from further disruption
  
  

To discuss further, call us free on 0800 6125 110, email This e-mail address is being protected from spambots. You need JavaScript enabled to view it or download our fact sheet.