Preventing payroll fraud requires vigilance from everyone in your business. However, by establishing a few simple processes, supported by education and continual communication, your business can be protected.
Nine simple processes to protect your payroll from fraud
- Communicate regularly with the whole business about common scams.
- Provide a way for your team to contact you if they suspect fraud.
- Ensure strong passwords are used across the business and regularly changed
- Verify all personal and payroll information on a routine basis.
- Maintain processes for managing incidents of fraud so you can respond swiftly and effectively.
- Establish a secure portal for employees to log and send payroll change requests
- Undertake regular security testing; engage a third-party to test your processes and responses.
- Promote an organisational policy on dishonest behaviour with a clear reporting procedure.
- Implement a Whistleblower Policy outlining staff responsibilities and protection for reporting suspected fraud.
Download the FREE checklist – Nine Simple Processes to Protect Your Payroll From Fraud
Unfortunately, a significant amount of payroll fraud can be enabled by to poor quality or badly implemented processes and tools. The good news is that you can avoid most of the common payroll fraud opportunities with some review and tightening of your payroll management.
About the Author
Joy Richardson
General Manager of Client Engagement
Joy has worked with Aurion since January 2012 and is a specialist in developing and managing a quality management system, information security management system and risk management framework that complies to People and Payroll Solutions.
