Share Control to Minimize Fraud in Your Organization

Fraud is a threat for organizations of all sizes. Completely eliminating fraud risks is nearly impossible, but efforts can be made to minimize them. There is often one thing in common among instances of fraud –one individual had too much control. Whether it is a CEO, CFO or a branch manager of a small company, allowing that person to have too much control can lead to heightened risk exposure.

Often, these fraudsters start out as long-term, highly trusted employees. This elevated amount of trust and authority creates a high risk of fraud and creates an opportunity for the employee to commit fraud. In fact, 53 percent of fraudsters have been with their organization for more than 5 years, according to the Association of Certified Fraud Examiners' 2014 "Report to the Nations."