MF Fastener Industries LLC
Policy number MFFP001 · Emirates Modern Industrial Area, Umm Al Quwain, United Arab Emirates
This policy sets out how MF Fastener Industries LLC prevents, detects and responds to fraud, and what customers and suppliers should do to protect themselves when dealing with us.
1. Policy statement
MF Fastener Industries LLC is committed to maintaining the highest ethical standards, and expects all employees, contractors, suppliers and affiliates to act with integrity and honesty.
This policy sets out the company’s position on preventing, detecting and reporting fraudulent activity.
2. Scope
This policy applies to all employees, contractors, suppliers and affiliates of MF Fastener Industries LLC.
3. Definitions
Fraud. Any intentional act or omission carried out with the intent to deceive, manipulate or mislead, for personal or organisational gain.
Fraudulent activity. Includes but is not limited to theft, embezzlement, misappropriation of funds or assets, bribery, kickbacks, falsification of records, financial reporting fraud, and unauthorised use or disclosure of company information.
Whistleblower. An individual who reports suspected or actual fraudulent activity in good faith, with a reasonable belief that such activity has occurred, is occurring, or is likely to occur.
4. Responsibilities
All employees and affiliates
- Must be familiar with this policy and act in accordance with it.
- Have a duty to report any suspected or observed fraudulent activity promptly.
- Must not retaliate against a whistleblower in any form.
Management
- Must promote a culture of transparency, integrity and ethical behaviour.
- Must provide employees with adequate training and resources to recognise and prevent fraudulent activity.
- Must promptly investigate reported cases and take appropriate disciplinary action where necessary.
- Must establish and maintain internal controls to minimise the risk of fraud.
5. Prevention and detection
- Segregation of duties. Controls ensure that no single individual has sole control over a critical business process.
- Internal controls. Reviewed and strengthened regularly to minimise the risk of fraudulent activity.
- Asset protection. Company assets, physical and intellectual, are safeguarded through appropriate security measures.
- Financial controls. Established to ensure accuracy, transparency and accountability in financial transactions.
- Due diligence. Background checks are carried out on employees, contractors and suppliers.
- Fraud risk assessment. The organisation’s fraud risks are assessed periodically and controls implemented accordingly.
6. Payment security — for customers and suppliers
MF Fastener Industries LLC does not change its bank account details by email. If you receive an email appearing to come from us asking you to pay into a different account, treat it as fraudulent.
Invoice redirection fraud is common in the trade. Someone monitors email traffic, then sends a message that looks like it came from your supplier, announcing new bank details. Payment goes to the criminal’s account and is rarely recovered.
Before paying any invoice, and especially where bank details appear to have changed:
- Telephone us on +971 6 767 2469 using the number on this website, not a number given in the email.
- Speak to someone you have dealt with before, and confirm the account details verbally.
- Check the sender’s email address character by character. Fraudulent addresses often differ by one letter or use a similar-looking domain.
- Treat urgency as a warning sign. Pressure to pay immediately, or to keep the payment confidential, is a common tactic.
Our only official domain is mfindllc.com. Emails from any other domain are not from us.
If you believe you have received a fraudulent communication in our name, tell us at once on sales@mfindllc.com or by telephone, so we can warn other customers.
7. Reporting fraudulent activity
Anyone who suspects or observes fraudulent activity should report it immediately to their immediate supervisor, to the Human Resources Department, or to the designated Fraud Prevention Officer.
Reports should be made in writing where possible, with as much detail and evidence as can be provided, so that an effective investigation can be carried out.
Whistleblowers may choose to remain anonymous, and the company will make reasonable efforts to protect their identity and keep the report confidential.
8. Investigation and disciplinary action
On receiving a report of suspected fraud, MF will begin an internal investigation. It will be conducted impartially and objectively, and fairly to all parties involved.
Where an investigation substantiates fraudulent activity, the company will take appropriate disciplinary action. This may include termination of employment, legal action, or recovery of losses.
9. Training and awareness
MF provides regular training and resources to employees and contractors on fraud prevention, detection and reporting.
This policy is issued to all employees and affiliates, and its understanding and observance is expected.
10. Review and amendment
This policy is reviewed periodically to confirm it remains effective and relevant. Any amendment is communicated to all relevant parties.
By observing this policy, MF Fastener Industries LLC aims to protect its reputation, its assets and the interests of those it works with, and to maintain a culture of trust and integrity throughout the organisation.
