Fraud Prevention

Fraudulent activity perpetrated by employees can range from compromising customer or payroll data to straightforward theft or the submission of inflated expenses. Staff fraud can be opportunistic, such as a spontaneous fraudulent act for personal financial gain. However, staff fraud can also be linked to a serious and organised criminal network.

To prevent this, it is best to implement a People Risk Management Programme. iFacts provides organisations and individuals with the ability to protect themselves from fraudulent behaviour by current employees, employee applicants and even third party suppliers. Through a range of in-house services and cutting-edge technology, enabled by some of iFacts world-class partners, iFacts provides a truly comprehensive fraud prevention service.

 

Database Services:

iFacts offers the ability to prevent fraudulent behaviour by current and potential employees through a comprehensive range of database services, including: Employee Databases, Vendor Databases, Risk Databases and Industry Risk Databases. Information gathered in assessments, verification tests and various surveys are fed into a central database and processed for information that will prevent fraud.

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Third Party People Management:

iFacts provides organisations with Vendor Verification, a service which has become standard business practice across the globe. This mechanism manages the way in which businesses procure staffing services. Usually associated with the outsourcing of temporary positions, it should also apply to staffing companies that provide permanent employees. This screening and monitoring process ensures that individuals meet the guidelines of vendor risk management. iFacts services include: Tenant Screening, Contractor Screening, Vendor Verification, Non-Financial due diligence and Procurement Screening.

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