You Hired The Fraudster Yourself:

Now it may not sound nice, but there is some truth in it: “you hired the fraudster yourself.” Things may have changed somewhat in recent times but not so long ago when I looked over some of the files I had been working on in recent years I found the following:

  • None of the clients that experienced a problem with either a staff member or management team member had bothered to check the backgrounds of the staff members involved before they were employed.
  • All of the cases could be brought back to:
    • Inadequate security;
    • Poor internal controls and separation of duties;
    • Overrides of the existing controls;
  • Most of the companies did not (try to) recover the losses and where losses were recovered they were usually only partial;
  • None of the companies involved tried to recover the investigative costs as part of the losses incurred by the misconduct;
  • Only a very limited part of the companies involved reported the incident to the police;

The post contains 18 tips that will assist in making better, safer hiring. Read the full post at Dierckx & Associates>>>

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