FRAUD IN THE WORKPLACE

Fraud is one of the world’s most-talked-about issues confronting humankind. Fraud can occur in different forms, at different types of organizations, and at different levels within the company. It is “everywhere”.

Incidents of fraud are even more rampant in the workplace.  A number of high-tech equipment has been developed to combat the spread of fraud.  However, while the great emergence of highly modernized equipment is coming out in the market, fraud is equally increasing.  

Like the case of a reported woman-owner of an exporting company in the business of purchasing United States goods on behalf of clients in the Philippines and shipping those overseas was sentenced to 37 months in prison in connection with a $15-M scheme to defraud the US-based bank. Said woman is one of the two remaining individuals, who agreed to waive indictment and pleaded guilty to two-count information charging her with one count of conspiracy to defraud the United States and another count of mail fraud.

Amidst the financial dilemma in our country today is the never-ending controversies on graft and corruption.  In any ways and forms, almost all government officials have been linked onto the complex web of corruption. It must have been deeply rooted from the previous leaders and may have grown vastly that averting it nowadays seems already difficult and unbearable. 

Despite the government’s strong campaign to combat corruption, it has not lessened yet. There are also non-government organizations and concerned citizens who willingly support crusade via unrelenting media and fast-growing social networking sites. However, there are still so many cases of graft and corruption that are pending before the courts. Only a very small percentage was convicted. Everyone is still hoping to have a “change”.

Fraud, on the other hand, is done discreetly by anyone or a group in a small or big organization.  It even became a new scheme for people to earn for a living.  Others may have conspiracy with the top executives. Silence is fraud's best friend; word of mouth is fraud's worst enemy.

High-tech gadgets and equipment may be effective but they are expensive. There is no other inexpensive effort in curtailing fraudulent activities both in private and public sectors but to keep the public informed. The best substitute to gadgets is education and right information.   

A number of local and international companies have embarked on preventing fraud in the workplace.  One of the most significant and effective steps is educating the people by holding seminars and workshops.  Several security professionals focus on broadening their knowledge on fraud detection.  Working hand in hand with the security experts and practitioners will somehow help lessen if not eradicate the incidents of fraud. 

Truth Verifier Systems, Inc. (TVSI), PNP awardee as “Hall of Fame Best Private Detective Agency” and ISO 9001:2008 Certified Company, has been noted to be the most active company that fights fraud and corruption in our country. The company holds seminars on preventing and detecting fraud in the workplace all over the Philippines. Most of the audiences are security professionals, accountants, auditors, lawyers, businessmen and admin. managers from different business organizations.  The lecturers are known to be security experts and proven to have solved numerous fraud cases in the country.  They are also members of the Association of Certified Fraud Examiners.

TVSI also caters in-house seminars and detective courses. For more details, please call 635-5929 and 635-5985 or visit www.truthverifier.com

MELVIN R. ROYO

Truth Verifier Systems, Inc.