Learning From Special Investigative Units

Fraud is a risk to every organization and each one addresses it differently. Some choose to ignore it, while others develop programs to mitigate it. For those with programs, formal or informal, the resources dedicated to the fight vary greatly—which consequently creates large variations in their effectiveness. However, there is one industry that consistently takes a stand against fraud—insurance. Insurance companies take fraud seriously and have been for many years. And companies within the insurance industry dedicate significant resources to fighting fraud.

These companies have created groups often referred to as Special Investigative Units or SIUs. The goals, structure and responsibilities of SIUs vary from company to company, but one thing is certain—fighting fraud is somewhere in their marching orders.

We can learn a lot from insurance companies that will help us fight fraud. Over the next few weeks, we will dive deeper into the SIU world and learn more about the following topics:

• Investing sufficient resources is necessary to effectively implement and sustain any fraud fighting efforts. Often, this leads to a question of measuring results or the effectiveness of the team.
• Providing appropriate training to the SIU team members is critical to help them identify and investigate fraud. This also allows them to transfer their knowledge to all other employees, which increases the number of eyes that are available to identify fraud.
• The structure of the SIU team is an important consideration when evaluating costs, collaboration, and effectiveness. This can include physical location, reporting levels, and autonomy.
• Finally, leadership is crucial to the effectiveness of any team or program or initiative. If the leaders don’t buy into it, you can bet your employees won’t be on board either.

These are all things that can determine the effectiveness of a fraud fighting team. Is your organization taking fraud seriously? If you want to learn more about SIUs and how they fight fraud, stay tuned.

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