#14 Resolve fast

By 31.03.2021 Journey

We welcome the wave of increasing whistleblower protection that is sweeping across Europe.  People who speak up about fraud should always be able to do it without fear. At the same time, we should focus on more effective ways to discover and resolve fraud early ourselves.

Recognise and resolve fraud…and keep calm!

When we are told we have been defrauded, we tend to react in one of two ways. Either we stay in denial as long as we can, and maybe beat up the messenger a bit, or when we are convinced that we have been cheated, our blood pressure goes up…we get angry, feel abused or even betrayed.  Very rarely do we sit back calmly and say to ourselves “well…after all there is so much fraud around in the world, and we have not taken it seriously enough until now…so something like this was bound to happen…. but it’s a good lesson and we can learn from it, once we have resolved the current situation at hand”.  Instead, even though we know deep down what a mature approach is, our most common knee-jerk reaction is a sledgehammer one flavoured with zero tolerance: Find and punish the culprits, find them NOW…and show no mercy whatsoever!

But lets us do a quick reality check. Six percent of world GDP in 2019 tells us that the cost of fraud in organisations is rather common.  So, unless we take specific steps to nip it in the bud early, then it´s part of life, similar to the litter we don´t want on our doorstep or the unnecessary mess in our kitchens.  We can have as many rules against it as we like, but if we too don´t do anything about it ourselves too, then it’s going to happen.

When it comes to fraud in organisations, “resolving it fast” is about each and every one of us having our ears to the ground, helping to recognise it, and containing the damage before it spreads.  In this way every organisation will recognise, react to, and resolve fraud before it leads to lots of non-essential costs or even collapse.

Are you a fraud detective who wants to help in cleaning up fraud too?

We firmly believe that everyone is a competent fraud detective, just like everyone can pick up litter and put it in the bin or keep the office-kitchen clean!  From years of experience, we have noticed that there are different Fraud Detective types.  So why don´t you take the Fraud Detective Challenge and find out how holistic, technocratic, transactional, or intuitive a Fraud Detective you could be?  You can take the 5-minute test by going to:  https://b4investigate.com/fd-challenge/