It Won’t Happen Here!

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Question:

Our management doesn’t want us to do any training on the warning signs of internal fraud. They have stated that if we don’t talk about it staff won’t consider embezzlements. Besides they tell us something like this won’t happen here!

Answer:

A failure to train doesn’t mean it won’t happen here! The Association of Certified Fraud Examiners report that those using a hotline to report fraud will reduce their losses by 50%. A good example is your institution performs no training or implementing a fraud hotline resulting in an embezzlement loss of $100,000.00. Had your institution established a fraud hotline and training your loss would have been $50,000.00. No matter what anyone thinks a person desperate for money might be tempted into becoming an internal embezzler.
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Learn more about Barry Thompson’s webinar 20 Internal Fraud Errors to Avoid