Insider Fraud

What is Insider Fraud?

  • Also known as employee or internal fraud, this is fraud committed by employees or someone within your company. 
  • This type of fraud will often occur based on three elements. Pressure or motiveRationaleOpportunity.

Pressure or motive can be driven by financial difficulties, addictions, trying to maintain a certain standard of living or organised crime involvement. These can motivate or pressure the employee to commit fraud.

Rationale, employees convince themselves what they are doing is justified. For example thinking they aren’t paid enough or that the company can afford it.

Opportunity, an employee sees an opportunity and takes it. The opportunity can often occur as a result of lack of internal controls and processes, access to financial systems provided when it’s not needed and an abuse of authority.

  • Insider fraud will often start with small amounts and once carried out successfully without detection the amounts are likely to increase. 

Protect yourself and your business from Insider Fraud

  • Have robust pre and post employment screening processes in place and ensuring they are followed.
  • Restrict and regularly review who has access to sensitive information and systems.
  • Ensure employees aren’t sharing confidential information and system log in information with employees that shouldn’t have access.
  • Control what employees can access and do on Bankline by regularly reviewing and maintaining user roles and privileges. Check the privileges for the roles and don’t apply privileges that they don’t need, these can be changed at any time so you can add privileges in the future if needed.
  • Enable dual authorisation on Bankline for payments, Templates and Bulk lists so that any payments and changes have to be approved by a second user before the payment is sent or changes take affect.
  • Regularly check account statements for any unusual behaviour. 

Are you being defrauded from within?

Do you want to report a fraud or cyber crime on Bankline?

If you suspect fraudulent activity on Bankline, call:

UK: 0800 161 5157

Lines open: Monday to Friday, 7am-8pm

If you need any other help, please contact your Relationship Team.

To report other suspicious activity, call:

UK: 0800 161 5150

Lines open: Monday to Friday, 7am-8pm

If you need any other help, please contact your Relationship Team.

Other ways to get help

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