KPI Oklahoma

How To Keep An Eye On Fraud Employees

All businesses need to take special care to keep their assets safe. Occupational fraud strikes on all kinds of businesses at any time, even if there seems to be a very trusting environment at work. There are different types of employee fraud that can take place in the office, ranging from time card fraud to theft. Thus, to prevent any such mishaps from taking place, here are a few things you should know.

Red Flags To Watch Out For

A private investigator who has spent time doing background checks for employees knows that those employees who commit fraud have some common traits and you can sort them out from the get-go. Here are some of the red flags to look out for:

  1. Seems to have financial troubles but lives beyond their means
  2. Has a lot of absences or never takes a vacation
  3. Spends cash quickly and excessively
  4. Is a bit too cozy with the vendors
  5. Have some sort of relation with independent contractors who work for you
  6. Uses up office supplies very quickly

These are just some of the common red flags that may point to employee fraud taking place. However, it isn’t enough to just spot the problem. You have to be quick to resolve the problem before it gets worse. Three things that you should review when dealing with employee fraud cases:

  • Are the internal controls that have been placed being overridden?
  • Is there a need for you to improve internal control?
  • Is management trained enough?

Steps You Should Take

No matter how big or small your business is, anti-fraud training should be conducted for every employee and effective mechanisms to report fraud should be placed. Working as a private investigator from Oklahoma City has helped us to identify that as much as promoting an honest environment is important, it is just as important for anti-fraud measures to be placed. Employee tip hotlines are also an effective measure to take.

Don’t Be A Stranger!

The more detached you are from the place of work and your employees, the more likely these crimes will just go undetected. You should be in the loop and keep yourself filled in with workplace gossip and pay attention to your employees lives. The best way to do that is by screening employees as they come in through hiring a private detective. You can also hire a private investigator from Oklahoma City to keep an eye on older employees who are a bit too mysterious.

These are critical measures you should take to be more involved with your workplace’s environment and to sift out fraudulent employees.

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