Ethics Important In Business » Business Ethics Resources

No one wants to go to prison. More and more real estate and mortgage professionals are finding themselves in front of judges these days than ever before.

Unfortunately, there is no single simple answer to fraud problems, but here are some strategies you and your company can implement to deal with the intense pressure inherent to this industry:

• Hold regular "reality check" meetings between your sales managers and quality-control personnel. Make sure that one of these departments doesn't outrank the other. You're doomed if your sales team continually browbeats the underwriters.

• Establish a hot line within the company through which employees can report suspicions of fraud. You can also report mortgage fraud to your local FBI office or to the state departments that administer professional licensing. The Mortgage Bankers Association and the National Association of Mortgage Brokers have good resources for reporting fraud, as well.

• Reward vendors and business associates who earn the honest dollar by continuing to work with them. Repeat business is such a nice treat.

• Develop a company code of ethics. And because ethics is a confusing subject to many people, have face-to-face meetings -- group or individual -- to discuss the company's policy. Distributing the ethics policy only in written or electronic format isn't sufficient.

Additionally, violations of ethical standards must be dealt with swiftly and must not be overlooked. Otherwise, the unethical behavior will become business as usual. Lead by example. Follow your ethics model with integrity.

It can't be said enough, there is no gray area. There is a thin black line, and you're on one side of it or the other. If you're ever indicted, it will be completely ineffective to say that you were just "cutting corners in the gray area."

Jerome Mayne is President and founder of Fraudcon, Inc., a fraud deterrent company. He is the author of the book titled, Life Saving Lessons – the diary of a white collar criminal. As a national keynote speaker and consultant, he has presented to and entertained dozens of trade associations and Fortune 500 companies to keep their people out of prison.

Source: www.articlecity.com