Everyone looks forward to payday, don't they? The work that they put forth every single day, for that week, will be rewarded and it's clear that everyone expects a certain amount. However, it's when the amount in question seems off that people will start to ask questions. For those who do not know, this is where payroll fraud can come into effect. It's one of the most unfortunate types of financial problems and it's one that Whistleblowers Against Fraud may draw attention to as well.
What payroll fraud entails, for those not in the know, is the theft of money from a company's payroll processing system. This can be done through specific processes, such as an employee punching in another employee's time card. It can also be carried out through the stating of unauthorized hours, which is another problem that Whistleblowers Against Fraud can draw attention to. If you'd like to know about potential solutions, here are just a few illustrated by authorities like WAF.
One of the ways that payroll fraud may prevented is through background checks. Ideally, these should be done before individuals are hired, since this will ensure that only the most reliable people are chosen. If there are individuals who have criminal histories attached to them, suffice it to say this will raise a number of red flags. In order to prevent payroll fraud, in the long term, you must be especially selective with who is brought into the company.
You may also want to consider offering direct deposit, if you have not done so already. There are a number of reasons, one of them being the level of convenience. You will not have to spend ample time in bank lines simply cashing in the checks you have received from work. Just as importantly, though, it ensures that you will become less of a victim to payroll fraud, since the money you earn will wind up going directly into your bank account.
If you are someone who feels like payroll fraud will be an especially big problem, think about segregating duties between workers. Specifically, make sure that payroll-related duties are broken up between workers. For example, if one person is in charge of putting the payroll together, another person may have the task of reviewing all of the details so that they are lined up well. What this does, as you can probably imagine, is that it reduces the likelihood of payroll fraud that much more.
What payroll fraud entails, for those not in the know, is the theft of money from a company's payroll processing system. This can be done through specific processes, such as an employee punching in another employee's time card. It can also be carried out through the stating of unauthorized hours, which is another problem that Whistleblowers Against Fraud can draw attention to. If you'd like to know about potential solutions, here are just a few illustrated by authorities like WAF.
One of the ways that payroll fraud may prevented is through background checks. Ideally, these should be done before individuals are hired, since this will ensure that only the most reliable people are chosen. If there are individuals who have criminal histories attached to them, suffice it to say this will raise a number of red flags. In order to prevent payroll fraud, in the long term, you must be especially selective with who is brought into the company.
You may also want to consider offering direct deposit, if you have not done so already. There are a number of reasons, one of them being the level of convenience. You will not have to spend ample time in bank lines simply cashing in the checks you have received from work. Just as importantly, though, it ensures that you will become less of a victim to payroll fraud, since the money you earn will wind up going directly into your bank account.
If you are someone who feels like payroll fraud will be an especially big problem, think about segregating duties between workers. Specifically, make sure that payroll-related duties are broken up between workers. For example, if one person is in charge of putting the payroll together, another person may have the task of reviewing all of the details so that they are lined up well. What this does, as you can probably imagine, is that it reduces the likelihood of payroll fraud that much more.
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