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Fraud Prevention and Detection Policy for Super 1 Grocery

1 Super 1 Grocery Fraud Prevention and Detection Policy Acct 421 Final Project Fraud Prevention and Detection LaTonia Gray Southern New Hampshire University Aug 14, 2021 2 Super 1 Grocery Fraud Prevention and Detection Policy For this paper, I will be doing a fraud prevention program for Super 1 Grocery stores. Super 1 Foods is a supermarket chain that is located in Texas, Louisiana and Arkansas. It focuses is on provided high-quality meats and produce and is operated by Brookshire Grocery Co. based out of Tyler Texas. "Grocery store fraud includes the use of fake identification, fraudulent or stolen credit cards, counterfeit funds obtained through counterfeit money, altered checks, counterfeit coupons, and phony travelers/gift checks as well as return receipt fraud". (Fraud Fighter, 2019). For the Duration of this paper, I will be discussing what fraud prevention is and ways it can be detected and prevented. Fraud awareness and Prevention policies Fraud awareness and prevention polices are policies set in place by a company to help prevent fraud and provided steps and actions to be taken if fraud is committed. These policies are provided to employees during new hire orientation and training. The training material will include ways to notice fraud attempts and how to notice if fraud is being committed. It will also include when and where to report fraud that is safe and confidential for employees. If policies are change the necessary training for all employees will be done. Super 1 has reported fraud attempts or theft attempts by customer but the most cases at the grocery chain, where employees have attempt to steal groceries and money from conduct an investigation in the issue which either leads to and employee being fired and have 3 Super 1 Grocery Fraud Prevention and Detection Policy criminal charges filed. In very small cases employees have been cleared after an investigation by the team has concluded. Individual risk factor management Super 1 encourages its employees to report any suspicious fraud or unethical type behavior. Even if an employee is not sure of what exactly is going on but suspects wrong during, they are encourage to report it. Super one asks that employees report details immediately to management, but if an employee is not comfortable reporting to management or wish to be more confidential, Super 1 has and ethics hotline where employees can call anytime day or night to report suspicious behaviors and this hotline allows for employees to be discrete if they wish, as they do not have to provide their name or any other personal details. Since most of Super 1's fraud is committed by employees, the fraud triangle should be used to help notice individual risk factors. The fraud triangle will help management pin point possible risk factors on its employees. It will help to determine if an employee is under any type of financial pressure. An employee will not normally tell management if they are having financial difficulties, but doing a credit check on new hires before they are