Employees - the key to countering fraud

On May 26th International Business Leaders Forum (IBLF) and PricewaterhouseCooperson organized a round-table on management and employee training programmes for countering economic crime. This is part of IBLF’s series of round tables on “Reducing the Risk of Corruption in Russian Business” (RRCRB).

Fraud is a very real and significant threat for business. For companies, well-designed management systems to reduce the risk of fraud, and to react quickly in the event of illegal activity, are crucial. A critical component of countering fraud is a thorough training programme devised to raise employee awareness of the risks and consequences of corruption.

During the round-table the following issues were discussed:

• how to ascertain whether employees are receiving the required quantity and quality of information in this area, and are they sufficiently trained.
• how to train staff to understand corruption risks, how to help them identify when ethical standards have been undermined, and how to develop control procedures.