Fraud & Crime FAQ

The risks of crime have become increasingly global. Also developments in technology ensure businesses are now more than ever, faced with not only an increased exposure to commercial crime but a huge variety of different ways coming through from many different ways. Thieves and fraudsters can include internal employees, external sources, or a combination of the two working together for their own personal gain.

It is a big concern that many employers do not realise how vulnerable they are to financial loss caused by the fraudulent acts of their employees. 

When discussing these risks with our clients, they will often respond with answers such as  “My employees are like family, they would never steal from me,” or, “There is really nothing in my business for employees to steal anything.” Unfortunately this is not always reality.

Every year, millions of dollars are lost due to employee dishonesty. Many businesses suffer severe financial damage and for some even leads to them becoming insolvent sometimes leading to bankruptcy. We often hear about the long-time, trusted employee who has been siphoning money out of the employer’s business for years.  

There are some acts that are one-time thefts but most are large losses are caused by long-term, ongoing schemes that are cleverly concealed for months. 

What can business owners do to protect themselves from this risk? There are two main steps that should be taken. 

The first is to establish a loss prevention program. 

The second is to obtain employee dishonesty insurance. 

Check to on your Fraud Prevention health by clicking here for a free check up

What should you do if a Fraud is committed in your workplace? Click here for some advice from Clayton Utz on points to consider

Here are examples of Fraud claims within our community, the lessons learnt and what can be done to reduce the chances of it happening to you with good common sense strategies.

CEO speaks out on a million dollar fraud

Fraud remains a huge threat to business

Eight Tips to prevent Employee Theft and Fraud

Managing Risks of Accounting Systems

Managing Risks of Payroll Systems

Managing Risks of Stock and Inventory theft

Hastie: Could fraud bring down your organisation?

2011 USA Fraud Hall of Shame

$16 Million Fraud shows it can happen to any one

$389 Million taken with ease according to report

 

 

Latest News

CPR joins Ausure

We would like to announce to all our Clients, Prospective Clients, Suppliers and Insurers, that Cooper Professional Risks Pty Ltd trading as CPR Insurance Services, will be leaving National Adviser Services Pty Ltd (NAS) and joining Ausure Pty Ltd as a Corporate Authorised Representative from 5 March 2018.

Fundamentally, there is no difference to you, except our Invoices will look a little different, and the Banking details will be in a different name and account number. Everything else at CPR stays the same.

There are a number of reasons we have made this decision, but the primary reason is for what we believe is best for our clients.

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Special offer to CPR Insurance clients

Employsure are providing a FREE Business Health Check to all our clients and gives you the opportunity to receive an analysis of the health and safety requirements in your workplace. Also. Employsure  will review your employment agreements as well as your wage rates helping you to avoid workplace claims.

Ordinarily this would cost you at least $1,250 but because you are a CPR Insurance client, it is free!

It involves the following review for you.

SAFECHECK

A specialist Work Health and Safety Consultant will visit your workplace and carry out:

A review of your business’ current work health and safety policies, procedures and systems to identify areas of concern or non-compliance

Following the review, you will receive a report summarising the findings and the health and safety

Status of your workplace

WAGE CHECK

A Wages Adviser will review your rates of pay and produce a Wage Check report.

The review will be conducted against the industrial instrument applicable

A report will be supplied advising if the wages are compliant and what steps to take to achieve compliance

CONTRACT REVIEW

A Document Consultant will review an employment agreement and provide recommendations.

The review will highlight compliance issues with the Fair Work Act 2009 as well as best practice

The report will make recommendations to achieve compliance and provide protection to your business.

This will remove any areas of potential dispute and risk

So what do you have to lose? Contact us on 07 3123 1137 and arrange 

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