Identity checks prevent fraud

To minimise the risk of workplace fraud, employers need to background check their candidates, says First Advantage. The background screening provider warns gambling addiction is the greatest cause of identity fraud.

“Fraud in the workplace costs Australian businesses more than $77.5 million each year, and often this is due to offenders seeking more money for gambling,” says Peter Stackpole, First Advantage managing director, Asia Pacific Australia.

“Many organisations are investing time and resources into the management of fraud detection, rather than prevention. To minimise the risk of identity fraud, employers need to take a holistic approach,” says Stackpole. “Periodic screening, in addition to pre-employment screening, helps to monitor staff as to whether they have developed any criminal affiliations or are involved in any activity that could put their organisation and their colleagues at risk.”

Thorough background screening is used by less than 10 percent of Australia’s largest employers, adds Stackpole. “Employers who combine background screening with internal controls, to protect sensitive information, minimise the chances of fraud occurring in their workplace and help to ensure the safety of their employees’ identity.”