Retail Resources

Top 5 Things to Deter Fraudulent Employee Activity

Jul 03, 2015 — Denice Bollinger
Deter_Fraudulent_Employee_Activity.jpg

 

1. Audits of the Refunds Processed in RQ:

  • Use the Refund Summary Report to identify employees with high cash refunds.
  • Look for invoices with items sold as a negative quantity.
  • Watch for refunds with the same dollar values.
  • Identify employees with high volume of refunds under $50.

2. Monitor Commission Charge Backs:

  • Employees with a high number of charge backs for items that do not require a device. (Features are the most commonly seen for this.)
  • If you are paying on a GP basis for commissions, use the Login Audit Report to ensure the employee invoice has the items actually punched into the store. (This is a great tool when you are using the biometric finger print for punch-ins.)

3. Handset Trade-In Fraud:

  • Compare the non-payments to RQ and look for consistency among employees.
  • If you have a significant amount of non-payments and if they are from the same employee, there is a high probability of fraud occurring.

4. Cash-Out Reconciliation:

  • Monitor your cash outs to deposit postings.
  • Ensure that the deposits are matching the cashout totals in RQ.
  • Look for consistencies with employee and location. (Use biometric fingerprint to validate the cashout and cash-in process.)

5. Avoid Buddy Punching:

  • 60% of employees admit to having buddy punched at some point.
  • Require biometric fingerprint scans on logins, cash-ins, and punch-ins.

For more information on this or other RQ features and functionality, email training@iQmetrix.com or contact your Account Manager directly.

 

Topics: Retail Operations, Biometric Security, POS, Integrated Solutions

Recent News

Comments