Create recovery and debt management processes
These are processes that identify and recover debts owed by staff, customers and third parties.
Why this countermeasure matters
A lack of recovery and debt management processes may lead to:
- not being able to identify or recover debts
- individuals being less deterred from committing fraud
- increasing levels of fraud over time
- repeated or endemic non-compliance or criminals reoffending.
How to put this countermeasure in place
Some ways to implement this countermeasure include creating recovery and debt management processes like:
- procedures to immediately retrieve incorrect or fraudulent payments with the help of the Reserve Bank of Australia or financial institutions
- recording and recovering debts arising from non-compliance
- recording and recovering staff overpayments
- obtaining refunds from suppliers if contract obligations are not met
- working with the multi-agency Criminal Assets Confiscation Taskforce
- recovering the proceeds of fraud under the Proceeds of Crime Act 2002
How to measure this countermeasure's effectiveness
Measure the effectiveness of this countermeasure using the following methods:
- Confirm legislation/policy exists to support the recovery of stolen funds or fraudulent payments.
- Confirm processes/systems are in place to support the recovery of stolen funds or fraudulent payments.
- Review debt recovery processes to see if they conform to national guidelines and frameworks.
- Review data on debt recovery.
- Confirm statistics on debt recovery are reported on.
- Determine the timeframes for recovering stolen funds or fraudulent payments. Consider if delays would reduce the ability to recover all the money.
This type of countermeasure is supported by: