The growing threat from fraud can be effectively combated by organizations and individuals co-operating and adopting a common approach that includes zero tolerance to all types of fraud and a rigorous anti-fraud culture that promotes honesty, openness, integrity and vigilance throughout the business community.
Employee fraud has been on the rise in the recent past and most businesses now realize that they can no longer play down this threat from within. Employee fraud leads not only to financial loss but also the reputation of the business. While most employees are honest and trustworthy, a few bad apples are causing the biggest threat to a business survival.
Recent reports indicate that employee fraud is threatening the success of most businesses. In these hard economic times when employees are finding it continually challenging to make ends meet, fraud is likely to escalate.
Background checks and screening before employing is the first approach to combating this threat as it is when employers hire incorrectly that they reduce productivity, revenue and even put their organizations at risk.
This growing threat from staff fraud can be effectively combated by organizations co-operating and adopting a common approach that includes zero tolerance of all types of staff fraud and a rigorous anti-fraud internal culture that promotes honesty, openness, integrity and vigilance throughout the workforce.
When it comes to business owners, it is imperative that enterprises operate with integrity starting with the business owners.
Many people loose money and property to people misrepresenting what they do, purporting to supply one thing or other only to run off as soon as they receive some money.
The suppliers fraud database will be ensure that people say what they mean and mean what they say – integrity. If you claim to be selling land for example, then you better have land to sell, etc. When more people are made to account for their behavior without hiding under company names, then the world would be a safer place. Economies would grow, businesses would expand, new ones created and unemployment would greatly decrease.