Woman steals $600K from Aged Care residents
Date published
December 2019
Relevant impacts: Human impact, financial impact and business impact
A Melbourne woman was convicted of fraud after using $600,000 worth of resident’s deposits from an Aged Care facility. The company went into liquidation shortly afterwards leaving 42 residents without a home and debts of $4.5 million. She deceived residents when she told them their deposit money would be held in a trust account and that interest gained from the money would be used to reduce accommodation fees.
Related fraudster personas
Related countermeasures
Make sure a manager, independent person or expert oversees actions and decisions. Involving multiple people in actions and decisions increases transparency and reduces the opportunity for fraud.
Automatically notify clients or staff about high-risk events or transactions. This can alert them to potential fraud and avoid delays in investigating and responding to fraud.
Internal or external audits or reviews evaluate the process, purpose and outcome of activities. Clients, public officials or contractors can take advantage of weaknesses in government programs and systems to commit fraud, act corruptly, and avoid exposure.
Reconcile records to make sure that 2 sets of records (usually the balances of 2 accounts) match. Reconciling records and accounts can detect if something is different from what is standard, normal, or expected, which may indicate fraud.
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