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Employee Fraud Investigation
Time of publication：2021-07-22
Fraud by employees is a serious hazard, which not only harms the interests of the country and the public. It also affected the stability and unity of society. Throughout a series of shocking major fraud cases that broke out in domestic and foreign listed companies, management fraud accounted for a large proportion. The healthy development of the capital market has been seriously endangered. And the higher the level of fraud, the greater the harm. Statistics from China Jintai International Business Survey in 2017: China’s current four types of listed companies basically have management fraud:
1. Listed companies with frequent capital operations and related-party transactions
2. Listed companies with severe performance and stock price fluctuations
3. IPOs and non-separated companies Listed companies
4. Listed companies with losses in the entire industry or excessive competition in the industry
1. Fraud classification: Fraud is classified
into management fraud and non-management fraud due to the identity of the person engaged in fraud. Non-management fraud is also called Employee fraud. The term “management fraud” refers to the middle and upper management levels.
2. The source of fraud:
China Jintai International Business Investigation has found through years of employee fraud investigation experience that employee fraud is a common phenomenon, whether it is an ordinary company or a Fortune 500 company. Out of the consideration of rigorous management system and work efficiency to ensure the balance between the two, objectively speaking: fraud cannot be eliminated. From a technical point of view: the possibility of fraud and fraud incidents need to be appropriately controlled, which is covered in Within the concept of "human resource risk control" of the enterprise. The resulting fraud risks can be identified and prevented through fraud audits. Nowadays, in many companies, employees’ travel expenses are fraudulent, purchasers receive rebates, and there are many cases of bidding and bid rigging, and the bad atmosphere seems to intensify. Conventional internal control methods and corporate culture and education are not enough.
3. Employee fraud performance:
Fraud behaviors are hidden and exist for a long time. Fraudsters generally take necessary counter-investigation measures to cover up their fraudulent behaviors.
For example: the bribe money is not remitted to the account under your own name, and the company that purchases as an agent or flies a bill does not need to register in your own name. The investigation of fraud cases needs to be conducted in strict confidentiality. Senior investigators conduct full control. The overall planning, execution, feedback, adjustment, and continuation of the case require rich experience and perfect solutions.
4. Early warning of employee fraud:
Observe a person's behavior: There are signs that can indicate that fraudulent employees are suspected of fraud. (This does not mean that we have to doubt everyone around us, but to maintain a reasonable professional suspicion of fraud in the "hardest-hit area".) The post that can be reasonably suspected is called the "audit object." Regarding our audit subjects, the China Jintai International Business Investigation has concluded through years of experience in employee fraud investigations: There are several signs that will arouse the vigilance of internal auditors.
1. Listed companies with frequent capital operations and related-party transactions
2. Listed companies with severe performance and stock price fluctuations
3. IPOs and non-separated companies Listed companies
4. Listed companies with losses in the entire industry or excessive competition in the industry
1. Fraud classification: Fraud is classified
into management fraud and non-management fraud due to the identity of the person engaged in fraud. Non-management fraud is also called Employee fraud. The term “management fraud” refers to the middle and upper management levels.
2. The source of fraud:
China Jintai International Business Investigation has found through years of employee fraud investigation experience that employee fraud is a common phenomenon, whether it is an ordinary company or a Fortune 500 company. Out of the consideration of rigorous management system and work efficiency to ensure the balance between the two, objectively speaking: fraud cannot be eliminated. From a technical point of view: the possibility of fraud and fraud incidents need to be appropriately controlled, which is covered in Within the concept of "human resource risk control" of the enterprise. The resulting fraud risks can be identified and prevented through fraud audits. Nowadays, in many companies, employees’ travel expenses are fraudulent, purchasers receive rebates, and there are many cases of bidding and bid rigging, and the bad atmosphere seems to intensify. Conventional internal control methods and corporate culture and education are not enough.
3. Employee fraud performance:
Fraud behaviors are hidden and exist for a long time. Fraudsters generally take necessary counter-investigation measures to cover up their fraudulent behaviors.
For example: the bribe money is not remitted to the account under your own name, and the company that purchases as an agent or flies a bill does not need to register in your own name. The investigation of fraud cases needs to be conducted in strict confidentiality. Senior investigators conduct full control. The overall planning, execution, feedback, adjustment, and continuation of the case require rich experience and perfect solutions.
4. Early warning of employee fraud:
Observe a person's behavior: There are signs that can indicate that fraudulent employees are suspected of fraud. (This does not mean that we have to doubt everyone around us, but to maintain a reasonable professional suspicion of fraud in the "hardest-hit area".) The post that can be reasonably suspected is called the "audit object." Regarding our audit subjects, the China Jintai International Business Investigation has concluded through years of experience in employee fraud investigations: There are several signs that will arouse the vigilance of internal auditors.
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