A NEW initiative is being launched to counter employee and management fraud said to cost Scottish companies millions.

According to financial experts PwC, the issue affects more than half of the country’s businesses.

The firm’s Forensic Scotland department is now launching the nation’s first “Fraud Academy” to share best practice and provide access to expert knowledge.

Announced today, the initiative is backed by both police and prosecutors.

The free programme includes a focus on the psychology of an internal fraudster, debate on recent economic crime trends in Scotland and practical tips on protecting an enterprise against crime from within.

After the launch events, it is expected Fraud Academy will meet three times a year to discuss the latest hot topics in economic crime.

Carol Rarity, PwC Forensics Scotland lead, said: “Our surveys, work and expertise have found that at least half of Scottish companies have experienced some form of economic crime in the past year.

“Around a third of these crimes are at the hands of an internal perpetrator.

“With that in mind, it is becoming increasingly important for organisations to understand why employees go bad and what protection tools are available, so we are going to use the launch of Fraud Academy to challenge people to see if they can spot the ‘bad apples’ in the workplace and know the threats that they pose.”

She went on: “We hope our events will see people from all sectors, but primarily those working in compliance functions, internal audit, fraud, HR and general counsel teams come together not only to learn, but also to share their insights because internal fraud is now an issue for most companies – and, sadly, at all levels.”

Fraud Academy sessions will be held in Edinburgh and Glasgow later this month, with dates for Aberdeen and Dundee still to be announced.

Speakers will include Luke Treglown, organisational psychologist at Protection Group International, Gordon Burns from Police Scotland’s Economic Crime Unit and Gerard Drugan from the Crown Office and Procurator Fiscal Service.

Those attending will also have the opportunity to take part in a question and answer session with the speakers.

Full details and booking information are available at the company’s website www.pwc.co.uk.