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

Robert Cooper - one of 100 faces of small business

This week it was announced as part of Small Business Week,  that Robert has been named one of the 100 faces of small business for a State Government promotion on the great value that small businesses play in the State of Queensland.

You can see Robert's entry here:

It is the third accolade for CPR Insurance Services in a month and after seven and a half years in business is a real pep up for the company.

For Robert, it is the culmination of many years experience, becoming well qualified, experiencing the highs and lows of a career and always wanting to contribute to his community. Sometimes, these things just come together and you receive recognition for your efforts.

Robert says that there is no doubt that starting your own business is a huge challenge, but with the right research and planning, the right people around you and a good set of values that you apply to the vision of the company, you have a very good chance of making it all succeed.

Robert says he is lucky. He has a strong supportive Wife, Mandy, who is also part of the business, along with efficient and hard working staff such as Julia McLauchlan and Aidan Harmer who are building up their own skills in a learning environment. 

However, the most important and most supportive people for CPR Insurance Services are our clients who have stuck by us and supported us over the past seven years. Our focus remains on providing the best possible service we can and always acting in their best interests. To all our clients, we say thank you!

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CPR Insurance wins Brokerage of the year

CPR Insurance Services picked up the award for the Best Brokerage (1-5 staff) in Australia, last Friday Night (4th May 2018) at the Insurance Business Magazine Awards held at the Westin in Sydney.

Judging came from various parts of the industry. It is a great honour to be recognised for our hard work and particular Business values we follow. A full list of winners is listed here.

Success comes from having great staff, and we thank Aidan Harmer and Julia McLauchlan as important support staff for helping us win such an award.

CPR Insurance has been in operation for more than 7 years now and is only successful because of the wonderful support from our staff, insurers and most importantly, our fantastic clients who put their faith and trust into our company to be their Risk Advisers and Brokers. 

Thank you to all.

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