For the past few years, with economic and financial crimes increasing at such alarming rates, some news sites have named Australia a financial crime 'hotspot'.
According to PricewaterhouseCoopers' (PwC) 2016 Global Economic Crime survey, one in ten Australian companies lost over $1 million due to financial crime. The survey reported an increase in money laundering cases over the previous two years, and cybercrime rates were twice as high as the global average of 32 per cent.
An Oversight in Detection and Prosecution of Cyber Crimes
In 2017, the Australian Bureau of Statistics' Personal Fraud Survey revealed that the Australian economy is continuously losing close to $3 billion to online scams. Australia’s law enforcement infrastructure struggles to combat increasingly complex criminal environments propelled by the digital sphere.
Reports say that the lack of oversight and early detection mechanisms drive many of the financial cyber crimes in the country. According to the findings of the 2016 PwC survey, less than 50 per cent of Australian businesses had a fully functional strategy to counter cyber crimes and only 40 per cent have trained first responders and personnel.
Due to these weaknesses, many cyber crimes go undetected and restrict the companies' capability to contest such crimes. Unfortunately, these weak points are exactly what attract cyber criminals, especially when globalisation and technology continue to lead the market towards more online transactions. The channels for economic crimes will progress as long as technology continues to advance.
Protecting the Workplace from Cyber Crimes with Police Checks
As an achievable first step towards combatting fraud and corruption in the work environment, companies can conduct pre-employment screening for all potential employees. Fast Police Checks provide online police checks to employers across NSW. By requesting a national police history check (NPHC) that covers all Australian states and territories, you receive essential information that goes beyond a candidate's CV.
As well as identifying potential employees with a criminal record, police checks act as a deterrence to potential scammers. It shows that the company is serious about threats, particularly if part of a robust security policy. By merely mentioning the NPHC requirement in your next job ad, you can eliminate applicants who refuse to undergo police checks. This way, you will be reducing the number of applications you will sift through and avoid potential trouble.
The police history information you will receive through the NPHC includes the following:
- Court convictions including information about any penalty or sentence
- Findings of guilt with no conviction
- Court appearances
- Some traffic offences
- Pending matters awaiting a court hearing
Fast Police Checks is accredited by the Australian Criminal Intelligence Commission (ACIC). We process applications directly with ACIC, even outside normal business hours, to provide fast, affordable and accurate national police checks.
To protect confidential personal information, we strictly adhere to the Privacy Act 1988, which administers the collection, use and disclosure of such data.