Ten Early Warning Signs of Fraud in Organizations - Slide 10
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Technical staff working around the enterprise conducting unsupervised IT activity, often outside normal hours, can also be a worrying sign, both from a risk and a cost perspective. Not every company is large enough to have a full IT department that might spot such issues through system audit trails. This is more common in smaller organizations where some are working more to help themselves than to help the organization that is paying for their IT equipment and the software they use.
ACTION: Do the IT security staff look and think further than just password expiry issues? Make sure that someone is on the lookout for data-theft, IPR theft, time theft (people spending all day on Facebook, etc.), or simple theft of IT assets. Make sure you have a proper asset register and IT audit system in place.
Anti-fraud consultancy UKFraud.co.uk has published a list of 10 common early warning signs that could alert management that fraud may be occurring in their organization. The list draws upon UKFRAUD.co.uk’s substantial experience across an international client base, ranging from major financial institutions, public sector bodies and corporations to SMEs and non-profit making organizations. The list works on the assumption that whatever tools they use, be it IT-based cons and false accounting or other traditional scams, the warning signs are often the same. As UKFraud.co.uk believes that awareness of the signs and a sound approach to countering them can often deter many opportunistic incidents of fraud, it has published the list to help executives benchmark their own operations. Suggested actions that can be taken to counter the risk of fraud are given following each sign.
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