One way is to implement a series of post-fraud activities, recommended Kumar. These include setting up a fraud response team which can quell panic and help work with investigators, as well as a sound document retention and creation policy. The latter entailed keeping and not deleting e-mail and hard copy. The litigation process will require the company to provide investigators access to these documents and might help the organisation clear its name from improper conduct.

An ongoing case mentioned by Kumar highlighted the current argument of whether the companies where fraudulent individuals belonged to should be held responsible. To get around it, organisations should hire specialist human resource agencies to conduct background screening of employees during hiring, said Wayne Tollemarche, executive vice president (Asia Pacific), First Advantage Corporation.

"Never take the CV at face value, and talking to referees from reference checks is not considered part of background screening," said Tollemarche. Some of the common methods of screening include checking on educational and professional qualifications, as well as previous employers, all done through a combination of calls and online research.

Painful memory

The prevalence of removable media devices such as USB drives and memory cards is making it easy for perpetrators to carry out fraudulent activities, said Richard Stagg, director and managing consultant, Handshake Networking.