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How to prevent fraud on your watch

How to prevent fraud on your watch

It is estimated to account for 40 per cent of total crime costs in Australia but the figure could be higher given that a lot of it goes undetected.  

Christopher Hill says deeper relationships between team members would help prevent fraud. Arsineh Houspian

Sally PattenBOSS editor

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Christopher Hill, one of the men at the centre of Australia’s biggest insider trading heist, says casual conversations in the office about workplace policies and deeper relationships between management and staff could have helped prevent the $8 million theft.

As detailed in The Australian Financial Review’s podcast, The Sure Thing, Hill helped university friend Lukas Kamay turn $10,000 of seed money into $7.8 million in late 2013 and early 2014, a crime that led to both men spending years behind bars.

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Sally Patten
Sally PattenBOSS editorSally Patten edits BOSS, and writes about workplace issues. She was the financial services editor and personal finance editor of the AFR, The Age and the Sydney Morning Herald. She edited business news for The Times of London. Connect with Sally on Twitter. Email Sally at spatten@afr.com

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Original URL: https://www.afr.com/work-and-careers/management/how-to-prevent-fraud-under-your-watch-20210323-p57der