Police said an additional arrest was made in a Dubuque bank fraud case involving multiple individuals.
Shanice N. Adams, 26, of 2901 Central Ave., No. 12, was arrested at 1:16 p.m. Monday in the 1300 block of Central Avenue on a charge of ongoing criminal conduct-unlawful activity.
PROCUREMENT & EXPENDITURE (STOPPING KICKBACKS)
Procurement fraud usually involves inflated invoices or “fictitious” vendors.
- The Three-Way Match: Never pay an invoice unless you have matched the Purchase Order (PO), the Delivery Note (signed), and the Supplier Invoice.
- Vendor Master File Review: Review your vendor list annually. Look for suppliers with the same bank details or physical addresses as your employees.
- Dual Authorization: Implement a “Two-to-Sign” rule for all EFT payments above a certain threshold (e.g., R5,000).
- No “Cashing” of Checks: If you still use physical checks, strictly prohibit “Cash” as a payee and store blank checks in a dual-lock safe.