Occupational Fraud - A Workplace Hazard

Occupational Fraud, little understood but potentially a crippling problem costs business hundreds of billions of dollars globally each year. As the world's major economies slow it is crucial to understand the risks, know what to look for and to implement strategies that uncover and decrease vulnerability.In 2008, the Association of Certified Fraud Examiners released its 5th "Report to the Nation on Occupational Fraud and Abuse". The Report based on the results of a survey sent to 16,606 Certified Fraud Examiners (CFE's) looks at almost 1,000 cases of the single largest occupational frauds dealt with by each respondent; the means by which it occurred and the effectiveness of anti-fraud controls. This article reviews the significant findings made in the Report. Continue ...