Red Cross reported an employee who pocketed $90,000. The Commission of Charities asked Red Cross to stop collecting actively soliciting of donations. In my view, the Commissioner has been over-reacting to this situation.
For a large organisation, the risk of embezzlement by an employee is always present. It is not possible to have perfect loss prevention - unless the requirements are made rigorous and impractical. In some cases, the correct response is taken when a loss occurs, i.e. loss reduction measure. The Red Cross has taken this measure to report to the Police and the Commissioner of Charities.
However, the mindset of the bureaucrat under the Singapore system is:
1. I need to have a perfect KPI, to earn a bonus and promotion.
2. Any mistake will damage my KPI
3. I close my eyes and ears - so that I do not have to report any shortcoming
4. If a problem occurs, I will try to find another agency to be responsible
5. If the problem is in my turf, I will find the perfect system (i.e. doesn't matter if the cure is worse than the pain).
(I removed my previous message about the corrupt manager, as I quoted the agency - sorry).
Tan Kin Lian
- ► 2020 (453)
- ► 2019 (1839)
- ► 2018 (1406)
- ► 2017 (1258)
- ► 2016 (828)
- ► 2015 (691)
- ► 2014 (144)
- ► 2013 (501)
- ► 2012 (1269)
- ► 2011 (1873)
12/05 - 12/12
- Risk of becoming an insurance agent
- Low cost investment fund
- Not insured under Medishield
- Political event of the year
- CPF Life - making a choice
- High speed trading in the stock exchange
- Property Bubble
- Oil price hit 2 year high
- Red Cross and donations
- 100 mishaps a day on expressways
- Renovation: Market forces decide certification fee...
- Be wary of dishonest agents
- Opposition participation and the coming election
- Suzy Orman
- Public talk by Dr. Jacques Attali
- Practical Guide on Financial Planning - case study...
- Standard of postal service
- Blatant cheating (3)
- Comparing whole life and term insurance
- Courts charged 36% on installment payments
- Computer buyers sent on a wild goose chase
- US to extend tax cuts
- High cost and poor standard of taxi service
- Excessive charges to boost profits
- Enjoy discounts on books
- US needs more quantitative easing!
- Social safety net
- TKL Tips
- Avoid insurance agents
- Blatant cheating (2)
- Indisputability clause in insurance policies
- Blatant cheating
- Pay premium for the whole of life
- Riddle - what is this object?
- Mobile games on Windows Phone 7
- FISCA talk on financial planning
- Medishield and Private Shield
- Unethical methods used to sell life insurance
- Revival of protectionism?
- TKL Tips
- Dividend yield on Singapore Equities
- ▼ 12/05 - 12/12 (42)
- ► 2009 (1654)
- ► 2008 (2104)
- ► 2007 (1803)
- ► 2006 (696)
- ► 2005 (159)