Email Subject Line: No need to train staff about the warning signs of internal fraud!

Answered by:

Question:

Management refuses to teach the warning signs of an internal embezzlement. Our CEO states that he doesn’t want anyone thinking about that subject. Should a financial institution train staff on the warning signs of an internal embezzlement?

Answer:

Your financial institution should have an employee hotline to report fraud issues. If staff doesn’t know what the warning signs are how do they use the hotline properly? All people have thought about internal fraud either how to do it or how to stop it. Eventually every institution will face an internal fraud. Not training about the warning signs isn’t going to protect the institution. While we understand your CEO’s beliefs, we know there is a better way.

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