{"id":2391,"date":"2025-08-16T16:30:30","date_gmt":"2025-08-16T16:30:30","guid":{"rendered":"https:\/\/www.langelierassurances.com\/preventing-corporate-fraud\/"},"modified":"2025-08-16T16:30:30","modified_gmt":"2025-08-16T16:30:30","slug":"preventing-corporate-fraud","status":"publish","type":"post","link":"https:\/\/www.langelierassurances.com\/en\/preventing-corporate-fraud\/","title":{"rendered":"Preventing corporate fraud"},"content":{"rendered":"

PREVENT FRAUD IN THE WORKPLACE: 4 SIMPLE MEASURES TO PUT IN PLACE<\/span><\/h4>\n

Following a new case of fraud involving a treasurer who embezzled nearly $700,000 over five years, while enjoying the complete trust of her colleagues. It is essential to remember that <\/span>fraud prevention in the workplace<\/b> starts with clear, written practices that are shared with all staff.<\/span><\/p>\n

Here are 4 concrete measures to protect your business, whatever your sector of activity, whether you are in <\/span>business<\/b>in <\/span>catering<\/b>or in the <\/span>manufacturing<\/b>.<\/span><\/p><\/blockquote>\n

1. IMPLEMENT A RIGOROUS EMPLOYEE PRE-SELECTION PROCESS<\/h5>\n

Implement a <\/span>background check process<\/b> including :<\/span><\/p>\n

    \n
  • Professional references<\/span>
    \n<\/span><\/li>\n
  • Criminal files<\/span><\/li>\n
  • Solvency<\/span> <\/li>\n<\/ul>\n

    This helps to limit risks right from the start.<\/span><\/p>\n

    <\/h2>\n

    2. REGULATE ALL FINANCIAL TRANSACTIONS<\/span><\/h5>\n

    Establish an <\/span>internal control procedure<\/b> for each operation, including :<\/span><\/p>\n

      \n
    • Managing <\/span>petty cash<\/b>
      \n<\/b><\/li>\n
    • The <\/span>bank deposits<\/b>
      \n<\/b><\/li>\n
    • The <\/span>employee payroll<\/b><\/li>\n
    • <\/b>Issuance of <\/span>company cheques<\/b>
      \n<\/b><\/li>\n
    • Payment of <\/span>supplier invoices<\/b> <\/li>\n<\/ul>\n

      These steps must be formalized and documented.<\/span><\/p>\n

      <\/h2>\n

      3. SEPARATE KEY RESPONSIBILITIES<\/span><\/h5>\n

      No one person should have total <\/span>control over finances<\/b>. Ensure <\/span>task sharing<\/b> and <\/span>cross-checking<\/b> of operations to create a safety net and limit opportunities for fraud.<\/span><\/p>\n

      <\/h2>\n
      4. PERFORM RANDOM CHECKS<\/span><\/h5>\n

      Carry out <\/span>unannounced checks<\/b> inventory and property. This sends a clear, deterrent message to all employees. This is particularly relevant in sectors such as : <\/span><\/p>\n

        \n
      • L’<\/span>retail insurance<\/b>
        \n<\/b><\/li>\n
      • L’<\/span>insurance for restaurants and hotels<\/b>
        \n<\/b><\/li>\n
      • L’<\/span>insurance for manufacturers<\/b> <\/li>\n<\/ul>\n
        IN CONCLUSION<\/span><\/h5>\n

        Implement simple <\/span>simple, effective anti-fraud measures<\/b> protects your assets and reassures your insurance partners. As your <\/span>business insurance broker<\/b>We see the consequences of fraud all too often. Prevention is better than cure. <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

        Following a new case of fraud involving a treasurer who embezzled nearly $700,000 over five years, while enjoying the complete trust of her colleagues. It is essential to remember that <\/p>\n","protected":false},"author":3,"featured_media":2390,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"","_seopress_titles_title":"Preventing corporate fraud: 4 effective measures","_seopress_titles_desc":"Internal corporate fraud: discover 4 simple preventive measures to protect your finances and reassure your insurance partners.","_seopress_robots_index":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-2391","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-insurance"],"_links":{"self":[{"href":"https:\/\/www.langelierassurances.com\/en\/wp-json\/wp\/v2\/posts\/2391","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.langelierassurances.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.langelierassurances.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.langelierassurances.com\/en\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.langelierassurances.com\/en\/wp-json\/wp\/v2\/comments?post=2391"}],"version-history":[{"count":0,"href":"https:\/\/www.langelierassurances.com\/en\/wp-json\/wp\/v2\/posts\/2391\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.langelierassurances.com\/en\/wp-json\/wp\/v2\/media\/2390"}],"wp:attachment":[{"href":"https:\/\/www.langelierassurances.com\/en\/wp-json\/wp\/v2\/media?parent=2391"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.langelierassurances.com\/en\/wp-json\/wp\/v2\/categories?post=2391"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.langelierassurances.com\/en\/wp-json\/wp\/v2\/tags?post=2391"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}