Fraud is by far the most serious economic crime in Australia and the world. Almost every large business has suffered from fraud survey after survey shows this. Small and medium businesses are often destroyed through frauds perpetrated against them.

Law enforcement is unable to cope with the enormous number of frauds perpetrated against businesses and the public sector.  

Fraudsters use traditional methods to defraud you as well as dreaming up new ways to steal. Learning from experience is too costly and too slow a way to learn how to stop them.  That is why we have produced these fraud programs.

Each fraud program shows:

  The types of frauds that are perpetrated 

  Examples of each type of fraud 

  Indicators or red flags to help you spot these frauds 

  What you can do to help protect your business or organisation from frauds?

Globalisation, technological change, societal influences and changes to management and corporations have dramatically increased the opportunities in recent years for fraud and for fraudsters.

Fraud thrives in both recessions and booms. When the economy is doing well businesses are making so much money that they do not have time to worry about fraud and do not notice their resources being siphoned away. When the economy is in recession businesses cut back on staff and other controls that limit the opportunities for fraud. People are also under more financial pressure and more likely to be tempted to perpetrate fraud. Fraud is one of the few recession proof industries.

You can help prevent yourself being yet another victim of fraud by being more aware of how fraudsters are perpetrating their frauds, how you can spot if they are trying to defraud you, and what you can do to help protect your business from fraud.

 

 

 

Purchases 

One the most common type of fraud is purchasing fraud. Often businesses lose hundreds of thousands to many millions of dollars to these frauds without even realising that they are being defrauded. Many frauds have been going on for years before they are discovered, if they are ever discovered. 

Purchasing frauds have also increased significantly as businesses decentralise more of the purchasing decisions and activities. 

Many of the red flags of these frauds and the controls to prevent or detect them are simply overlooked. 

In one case a large retailer lost millions of dollars, probably even tens of millions of dollars, because their purchasing staff were secretly accepting excessive gifts and benefits and allowing these to influence purchasing decisions. 

There have been numerous frauds where purchasing staff cleverly manipulate the process of obtaining three quotes. Other frauds have been caused by supplier collusion and suppliers misrepresenting key information. 

Learn more about the types of purchasing frauds, indicators or red flags to help you spot these frauds, and what you can do to help protect your business or organisation from the frauds.  

This program shows: 

      29 different types of purchasing fraud 

      41 indicators that you might have a purchasing fraud going on in your business 

      23 checks that will help you prevent or detect purchasing fraud 

      examples of purchasing frauds

 

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Sales

If you are in the sales business there is a real risk that you are being subjected to sales frauds. 

Here are  

      30 different types of sales frauds 

      44 indicators that you might have sales frauds going on in your business 

      25 checks that will help you prevent or detect sales fraud 

      examples of sales frauds 

      sales returns frauds, with indicators and a checklist

      examples, indicators and a checklist for frauds from customers credit cards 

      frauds in submitting tenders or bids

 

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Payroll, Wages and Salaries 

Payroll frauds often go on for many years before they are discovered. Here, to help you protect your business from payroll frauds, are: 

      26 different types of payroll frauds 

      47 indicators that you might have payroll frauds going on in your business 

      27 checks that will help you prevent or detect payroll fraud 

      examples of payroll frauds

 

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Expenses 

It is common to use expenses to defraud employers and others. This program helps you find out what kinds of frauds you may be subjected to, how to detect them and how to protect yourself from them. 

The program contains: 

      Frauds using corporate credit cards 

      Workers compensation frauds 

      Public compensation claim frauds 

      Harassment claim frauds 

      Travel and motor vehicle expense frauds 

      Internet expense frauds 

      Telephone expense frauds 

      Donations frauds 

      Repairs and maintenance frauds 

      Commissions and bonus frauds 

      Insurance frauds 

      Advertising frauds 

      Contractors and consultants frauds

 

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Debtors

Many businesses have a great deal of money tied up in their debtors. Frauds in this area can be very costly. Here, to help you protect your business from debtors frauds, are: 

      10 different types of frauds 

      40 indicators that you might have frauds going on in your business 

      19 checks that will help you prevent or detect fraud 

      examples of debtors frauds

 

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Creditors 

There is a range of frauds in the creditors or accounts payable area.  

      19 different types of frauds 

      22 indicators that you might have creditors frauds going on in your business 

      20 checks that will help you prevent or detect fraud 

      examples of creditors frauds

 

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Stock/Stores/Inventory 

Stock frauds often go on for many years before they are discovered. Here, to help you protect your business from these frauds, are: 

      24 different types of stock frauds 

      34 indicators that you might have stock frauds going on in your business 

      30 checks that will help you prevent or detect stock fraud 

      examples of stock frauds

 

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Cash and Cheques 

Cash is susceptible to fraud because it is the most tempting to take. This program looks at petty cash frauds, cash till frauds, banking frauds, cash and cheque frauds, writing and signing cheque frauds, receiving cheque frauds, ATM frauds, and cheque book frauds. 

      different types of frauds 

      32 indicators that you might have these frauds going on in your business 

      82 checks that will help you prevent or detect these frauds 

      examples of frauds

 

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