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Australia Fraud Essay

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PREVENTION METHOD IN AUSTRALIA AND NEW ZEALAND Given the high cost of fraud to the Australian public sector organizations, prevention needs to be a key priority. From the survey results indicate that organisations remain focused on traditional prevention methods: 1. Pre-employment screening of staff As we know that most fraud cases happened in Australia and New Zealand is carried out by employees. So the first stage of fraud prevention is to stop fraudsters from entering an organisation’s employment. Thus, in order to overcome fraud problems in a company, management of company must evaluate their employees through a process of pre-employment screening using publicly available information. By doing that, they can often identify individuals who they may not want in their workforce. New Zealand had established Personnel Profile Specialists Ltd (PPSL) in order to evaluate their staffs through pre-employment screening services both locally and internationally. Personnel Profile Specialists focuses on verify the candidate’s CV and references in order to minimize company’s reputational risk and financial exposure when employing. Hence, this will lead to reduction of staff turnover. Meanwhile in Australia, Employment Screening Australia is established to guarantee the …show more content…

Organizations use this mechanism to guide their member in knowing the behaviours that are expected and acceptable. With regard on this fraud matter, actually just having a corporate code of conduct is not enough. Organization should go further and create an environment that supports employees to make ethical decisions. In this kind of environment, organization can minimize this fraud matter. From our survey, we found that New Zealand company pay less attention to code of ethics compare to

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