Institutions that haven’t thought about an internal fraud situation will panic when it happens. If the fraud loss is large, they will try to move liability to an outside third party. While we agree with management moving the liability, they need to ask some basic questions.
1. The person they select what type of training have they had a special certification is not enough.
2. How many internal fraud cases has this person handled in their career?
3. Is this the person’s first internal fraud case?
4. Do they update their training regularly?
Learn more about Barry Thompson’s webinar 20 Internal Fraud Errors to Avoid