Guide to Preventing Workplace Fraud - Chubb Group of Insurance ...

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■ Callers are asked to call back at a future date so that additional information may be obtained after the company has made an initial inquiry or conducted an investigation. ■ Hot-line calls, and related follow-up activities and actions, are welldocumented, and summary reports of hot-line activity are provided to the highest level of management. ■ Retaliation, through any means, for providing information is strictly prohibited, and the company takes action to enforce this retaliation ban. ■ The hot line is well publicized, with use by employees, vendors, customers, and other business associates actively encouraged. Many companies also provide mechanisms other than, or in addition to, hot lines for the confidential reporting of suspected fraud. These mechanisms include direct reporting to the board of directors, higher-level managers, legal counsel, and internal audit or security personnel via a dedicated email address or other means. 50
FINAL THOUGHTS ON FRAUD RISK AND RESPONSE This booklet is intended to provide the basis for thoughtful consideration of the types of fraud risk. It would be impossible to include every type of fraud risk; however, it is hoped that this booklet can serve as a valuable reference. You are encouraged to review this booklet and to consult, as necessary, with professional advisors such as your insurer, forensic professionals, and legal counsel. 51
Page 1 and 2:
Guide to Preventing Workplace Fraud
Page 3: GUIDE TO PREVENTING WORKPLACE FRAUD
Page 7: CONTENTS Introduction .............
Page 10 and 11: focus on prevention, detection, and
Page 12 and 13: The Fraud Triangle What motivates p
Page 14 and 15: ■ Minimization: “I’m not taki
Page 16 and 17: Cash-diversion schemes range from s
Page 18 and 19: FRAUD RISK MANAGEMENT- LOSS CONTROL
Page 20 and 21: General fraud detection practices.
Page 22 and 23: ■ “Vendor audits,” which typi
Page 24 and 25: company. Checks with identified inc
Page 26 and 27: ■ Investigate Forms W-2 and 1099,
Page 28 and 29: Segregation of duties may be diffic
Page 30 and 31: In many companies, vendor payments
Page 32 and 33: ■ “Vendor audits,” which typi
Page 34 and 35: The above scenario presents a numbe
Page 36 and 37: part of computerized records and ar
Page 38 and 39: software, and color laser printers
Page 40 and 41: Misappropriation of Waste, Scrap, a
Page 42 and 43: Expense Account Reimbursement Fraud
Page 44 and 45: Payroll fraud may involve collusion
Page 46 and 47: ■ Employee correspondence sent to
Page 48 and 49: ■ Design and implement safeguards
Page 50 and 51: ■ Foster a strong “perception o
Page 52 and 53: Many companies require that employe
Page 56 and 57: ABOUT THIS BOOKLET This booklet was
Page 60: Chubb Group of Insurance Companies
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