Last week, a Transit supervisor and five others were charged in connection with a scheme to steal over $2 million from the agency. The kicker: the payments were under the limit of $5,000 – roughly speaking, that’s over 400 payments!
“Fraud is not an accounting problem; it is a social phenomenon.” Joe Wells
October 17, 2018, Today’s General Counsel It’s a mistake to ignore the human element when fighting fraud within a corporation. There are behavioral and environmental
Best in class fraud and ethics training customized for you and your organization.
Today’s fraudster is clever and operates in an environment ripe for criminal activity. Economic unrest
is making it easier for employees to find ways to set fraud in motion – and a new breed of offenders is finding cunning ways to do so. After more than 60 years, the classic fraud triangle of three elements or events that motivate an employee to cross the line has morphed into The Fraud Pentagon.
Company boards and senior management must take an offensive stance against the five conditions that precipitate fraud with
a clear plan that limits the opportunity for fraud and minimizes the impact when fraud does occur.