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How Do You Manage Fraud Tips?

June 5, 2018 by OSYB Staff

Fraud does occur in businesses and it is important that you have the proper procedures in place to  investigate them when they do happen.  Insider fraud is often discovered through tips that come from within the company, or from your clients, or vendors.  Sometimes, tips are anonymous and sometimes not, regardless each tip should be investigated.  False tips may occur but their validity is often quickly ferreted out as the facts speaks for themselves.

The Fraud Files Blogs shares some points to consider:

  • You should provide a system for confidential tips to be submitted to management for investigation.
  • You should have a fraud policy and a procedure in place, and appropriate employees to evaluate even the least plausible tips.  If upon further investigation, the facts make sense, then call for a deeper invesitigation.
  • If the tipster identifies themselves it does lend credibility, however, an anonymous tip is just as valid if the information has merit.
  • Legitimate tips usually have specific details,  reliable information, and include  specifics that make sense in your workplace.

Fraud happens.  Be prepared to handle it and contact the appropriate professionals, if and when necessary.

For more details:  Evaluating Fraud Tips

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