Sainsbury's Procurement Fraud
The high profile ‘potato fraud’ reported recently saw Sainsbury fall victim to a large scale, but relatively uncomplicated Procurement Fraud.
Despite having the right accounting controls, and financial checks and balances, such employee led fraud led by collusion is hard to detect, as shown by the length of time this fraud survived detection. Whilst not on the same scale as the LIBOR fraud engineered by dishonest employees at the high street banks, dysfunctional employee behaviour is the route cause of such financial losses.
Here at Vincents we offer a free Fraud assessment for your business to help protect it ever happening to you. We can provide an overview review of your procedures and identify any changes in practice which may offer better protection against Fraud by employees and/or suppliers.
To find out more you can read our Procurement Fraud page within our Criminal Section or pick up the phone and call for free initial advice on 0800 310 2000.