Crime

Many businesses choose not to opt for crime insurance; however, by doing so, they risk exposing themselves to potentially significant frauds and thefts. Here we summarise some of the “crimes” which frequently affect businesses, outline what crime insurance is and explain the role of a fraud investigator in investigating claims under certain crime policies.

Frauds of this type are often long-running and difficult to detect, principally due to the employee having taken elaborate steps to disguise the misappropriations. Understand these frauds and see some examples in our guide.

These frauds have a very simple modus operandi and, in most cases, that modus operandi is almost identical. 

Set out in this guide is a list of controls that may help prevent fraud. This is not intended to be an exhaustive list but, instead, is intended to assist with the consideration of a company’s control environment.

What is social engineering fraud?

Although there may be no indication of employee infidelity, management should be mindful of warning signs and sceptical of activities within their companies. In hindsight, a lot of companies who are the victim of fraud feel that there were indications that something was amiss. We set out in this guide some of these possible signs and common themes across many frauds.

This fraud involves the theft of stock and/or cash by an employee and, in many ways, is a straightforward form of fraud. It is, however, often difficult to perpetrate as companies with a lot of stock or cash are usually very conscious of the need to protect it.

What do we mean by supplier/customer collusion in the context of employee infidelity?

Although there may be no indication of employee infidelity, management should be mindful of warning signs and sceptical of activities within their companies. In hindsight, a lot of companies who are the victim of fraud feel that there were indications that something was amiss. We set out in this guide some of these possible signs and common themes across many frauds.