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FRAUD RISK REVIEW

Despite attempts to stamp out fraud, it is on the increase and with it comes greater risk to your business.

Inquesta offers a free fraud health check questionnaire and we will provide you with a risk rating and some basic recommendations based on the results.

There are many simple procedures which companies can follow to reduce their fraud risk. To find out more please contact us  or chat online.

The theory about how fraud risk arises is set out in the Fraud Triangle, the three key elements of which are opportunity, rationalisation and pressure.

  • Opportunity is the ability to commit fraud, for example by having easy access to records or valuable items etc. Opportunity is created by weak controls and oversight.
  • Rationalisation is when an individual determines that the fraud is acceptable. An example of rationalisation might be “I am just borrowing the money.. I will pay it back“.
  • Pressure reflects an individual’s need to commit fraud – for example, being in financial distress or under pressure to achieve results.

Only recently, it was reported that a woman stole £250,000 from her employee to pay for a wedding. This individual was an accounts assistant who channelled the company’s money to her own bank accounts.

If you are concerned about your company’s exposure to fraud, chat online or call us on 0845 223 4700.

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Freephone 0800 093 4604
Telephone 0161 359 4593

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