What is Fraud?
"...any intentional act or omission designed to deceive others and resulting in the victim suffering a loss and/or the perpetrator achieving a gain."
"The use of one's occupation for personal enrichment through the deliberate misuse or misapplication of the employing organization's resources or assets."
Source: Association of Certified Fraud Examiners (ACFE)
Conditions that Contribute to Fraud
- Poor Internal Controls
- Inadequate Pay
- Low Loyalty
- Rigid Rules
- Poor Promotion Opportunities
- Pressure to Perform
- Lack of Recognition
- Unreasonable Budget Expectations
- Reactive vs. Proactive
- Hostile Work Environment
- Poor or No Training
- Inadequate Staff/Resources