Preventing Employee Fraud
Nowadays, hiring individuals that would work for your company by basing it on their curriculum vitae or their grades in college would not be enough measurement to be assured of your company’s security against unlawful practices that may be done within your company. Because of the daily struggle of making ends meet nowadays, some employees would resort to fraud to be able to attain a better life while working within your company. While employers do their best to monitor their employees and every move that they make related to the company, it is impossible that they can monitor every activity that you would engage in. So in order to check their employees for employee fraud, they would hire a private investigator do the job for them as they are expected to give them a quick turn-around for the respective cases which they are currently handling. They also have a vow of confidentiality wherein they would protect the interest of their clients so they would not divulge information to any unauthorized individuals.
Employee fraud may take place as employees try to exploit the system used in the company. For example: In a time-in, time-out system, if they know how to exploit the system through backdoor coding or working in its large scale database, they could be able to adjust the system to make sure that they would not receive a large deduction for their absences. They can also commit fraud on manual forms like liquidation forms wherein an employee would state a different amount to the amount he spent, usually, they would indicate a bigger amount so that they would keep a larger amount of money. Even if there are superiors who are overseeing the problem or the day-to-day activity of the company, fraud may still happen, even in a technology-laden world nowadays.
Employee fraud can either be detected into two ways, either internal or by accident. If the fraud is detected internally, usually there would be people otherwise called as “tipsters”. These people maybe people from your own company which would like to stop the fraud ongoing or cannot stand it all. It can also be discovered by accident since people who commit fraud have the tendency to leave things behind so they could still act naturally. An employee may discover unpaid payroll, unliquidated materials and other related stuff in the company. Private investigators may also detect employee fraud through internal audits, external audits and internal controls, the following may not give instant results but these activities would help in an employee fraud investigation. They could look at company policies and help the organization retool the lapses which they have which allow their employees to commit such cases.
You might wonder who is the right person to hire for this job? Can you hire a person who is tagged as a “private investigator” to be able to help you with the employee fraud investigation? It is best that before you eventually come to terms and start the investigation rolling, you must look for the qualifications of the investigator: it is not just getting the job done in the quickest turn-around time or somebody who can help you stops your problem. They should have the nose to finish the job or has the experience in fraud cases. They should be able to help your company make decisions on how to retool their company policies, improve their systems and make them hack-proof if possible (a system used by the company needs to be adept with the changing world of technology) and to decide on the punishments that would be given to the perpetrator. These private investigators bring the truth out in your company and bring your confidence back to your employees.