| Cheque Fraud |
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Surprisingly, it seems that cheque fraud, despite all our modern technology, is on the increase. The use of technology to prevent fraud, by smarter detection and inks, paper and holographs is seemingly matched by wider use of organised crime, but also apathy on the part of users. Access to the same papers that are used by the banks, employment of messengers in legitimate jobs and well organised crime gangs, has shown that theft is very sophisticated and can be devastating to a company's capacity to operate successfully. One of the tools of organised crimes and internal theft is a company's routine. One North-Sydney head office always took the weeks cheques to the same post office box at the same time. An Australia Post van would borrow the mail for a few minutes, remove the company's cheques and continue with its round. A few cheques would be altered and paid into false ID accounts. And some company's (does yours?) have the chairmans/directors signatures on the annual reports on the internet. Are they cheque signatories? Aren't you inviting trouble? Auditors are trained to be alert for these - why not ask for some tips on prevention - too late when the funds have gone!! |