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Can you mitigate the risk of employee fraud before it occurs?

mitigate risk of employment fraud

We’ve pondered this question in light of disturbing reports of employee fraud recently.

Does fraudulent behaviour only occur when opportunity presents itself? Or do fraudsters seek out businesses with a lack of oversight that allow them to wreak their havoc?

We know common triggers and stresses can drive fraudulent behaviour.  And we recognise patterns such as excessive expenditure on showy items, for example.

Could pre-employment screening uncover a propensity for employee fraud? Possibly. What it could do is two-fold:

  1. Pre-employment screening shows the scrutiny a business will undertake to find the right employee.  An organisation that conducts employment screening will likely have other business practices, checks and balances, to avoid creating an environment for fraud.  Employment screening forms a critical first line of defence.
  2. Experienced screeners can identify a candidate’s qualities and behaviours. This can determine if they are a good fit for a business. This is risk management in practice.

Prevention is better than cure, as the old adage says.  Employee attrition is a matter organisations want to avoid – the cost of on-boarding new employees is significant. The more you know about your candidate, what drives and motivates them, their ethics and integrity, the better.

Contact VerifyNow to have a conversation about your employment background screening needs.

 

 

Marianne Curnow

Marianne Curnow is a Consultant with Cogent Business Solutions, who specialise in security vetting and employment screening. Cogent’s automated screening platform is VerifyNow. VerifyNow is the talent acquisition professional's trusted partner in employment background screening and verification. verifynow.com.au

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