Fraud Investigations and the crucial connection with transcription services
There is an alarming trend that is facing a lot of business organisations today: incidences of fraud are on the rise, despite some best efforts to curb this type of activity. And what makes it worse is that there are different types of fraud in the workplace, ranging from misappropriation of funds to outright theft and more serious offenses.
As an organisation, you may think that you are on the safe side. And in general principle, you may be safe. But as they say, we never know what we ought to do until we are in that situation itself – and the same goes for investigating fraud in your organisation, if and when it occurs.
What you should know about corporate fraud:
Although many companies today have put in place various protocols for ensuring their protection from fraudulent activities, unscrupulous employees may still be able to find a loophole or two. Let’s face it: whatever controls one has, some are bound to be breached sooner or later. Anyone who deliberately commits fraud has found a way to circumvent or override whatever systems you have in place. So even with an effective system, you may only be able to catch errors or mistakes, but not catch the act of fraud itself. This is precisely where an effective fraud investigation procedure comes in.
Detecting fraud in the workplace:
One of the most common ways of detecting fraud may surprise you. As mentioned, fraud cannot easily be detected by a system; there is actually a bigger chance of detecting it through someone else either within the company or outside the company. More often than not, the most common way you can learn of fraudulent activities in your company is when someone tells on another person. This can be another employee, a client, a vendor, or even someone who wants to remain anonymous. But once someone blows the whistle, the next step is for you to ascertain how the fraudulent activity took place. This, then, is where a transcription service comes in particularly handy.
Questioning the suspect/s:
Once the suspect has been identified, it follows that they will be given an invitation to be questioned. This could be a more informal questioning session at first, and could progress to more formal questioning when probable cause has been justified or when the person is not able to satisfactorily answer the questions put forth.
But in questioning someone, it is important to have a thoroughly accurate record of the interview. This is because the one suspected of fraud may make significant statements or even give themselves away with what they say. The point is you have to be absolutely sure of what they are saying. In this regard, transcribing the entire interview is a crucial point, as the written form of a statement can easily be checked and confirmed throughout the entire investigation. When an interview like this is transcribed, the investigators can easily go over the salient points without having to go back to the audio or video interview itself. The transcribed interview will also serve as evidence and as a mark on that person’s record, whether the case has been settled or will go a step further.
In any eventuality, preparedness is crucial. What people say can and will be held against them, but even more so when it can clearly be seen in written form.
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