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 - Elite Broker again

We are pleased to announce that once again Insurance Business Magazine has recognised Robert Cooper amongst the top Elite Insurance Brokers in Australia. See here

It is the fourth time in six years Robert has received this honour.

It is a great recognition for CPR Insurance Services who strive to provide the best possible standard of customer care and service to assist obtaining the best possible cover at the best possible price to meet the needs of for our clients.

Such awards are not possible without the outstanding support provided in the office by Julia, Aidan and Mandy, along with the fantastic support our clients continue to show to us. Thank you to all.

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CPR Insurance nominated for Brokerage of the Year

We are please to announce that CPR Insurance Services has been nominated as a finalist in the Brokerage of the Year (1 to 5 Brokers) for the inaugural Insurance Business Awards. 

A Black Tie Gala Dinner in Sydney on the 4th May 2018 will announce the winner, so fingers crossed.

CPR Insurance Services has been in existence for more than 7 years now and continue to grow and develop. It is thanks to our wonderful clients who appreciate us being part of their own businesses as their Risk and Insurance Advisers.

We continue to follow the simple philosophy of providing Expertise, best possible service and being there for our clients when they need us, such as at Claim time. We are here to save you.

Find out who made the cut here!

The Insurance Business Awards will bring together industry leaders to celebrate excellence in the insurance profession, recognising leading brokers, brokerage businesses, insurers and underwriting agencies in Australia for their contribution to the industry over the past 12 months.

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