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Case: Designing a Robust Fraud Prevention Program

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Here is an article on a fraud prevention program. Please read it and give your opinion. Make any comments you may have on its likely success.

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Fraud in corporations is recorded in both public and, private sector but it is normally not publicized. The Association of American Fraud Examiners conducted research in 2004 and established that the most prevalent fraud detection methods used in corporate and non-governmental organisations alike are as follows:

1. Employees 51.7%
2. Customers 19.7%
3. Suppliers 15.7%
4. Anonymous 12.9%

Today many organizations deal with the problem internally. Accounts can be misrepresented and the information is usually internalized so that the donor is unaware of what is happening. In my opinion failure to include individuals with financial oversight on the Board of Directors makes any of the precautions solutions stated in the article such as "creating a positive environment" or " hiring certified fraud examiners" ineffective due to the loss of control on executives. Stopping fraud before it happens actually requires very strict controls over the employees including executives. Such prevention or awareness programs may have adverse effect. For example staff and board members might feel restricted in their actions due to a lack of autonomy and sense of ownership of the organization, so that levels of commitment and loyalties are diminished, ...

Solution Summary

The following posting analyzes an article regarding a fraud prevention program.

See Also This Related BrainMass Solution

Fraud against corporate executives; loss prevention

Fraud is a crime that many criminal justice experts consider slippery in nature because of the obscure angles and forms it can take, and fraud is not identified until after the crime is committed. Identity theft is an example of how fraud can take the form of another person through the theft of information that makes the criminal obtain everything the person has in the form of assets, belongings, and money.

Please answer the following questions listed below. As you answer each question, you must provide support or evidence that will enhance and empirically prove your answers. Academic criminal justice articles or real life criminal justice findings that are not found in journals or other academic sources must be cited in supporting your answers. Please use APA style for all cited sources including your reference page.

-How would you protect corporate executives of fraudulent acts against them? What would be your plan of action? How would you implement your measures?

-If you were requested by the chairman of the corporation to create a loss prevention education workshop for the corporate executives, how would you create it for implementation? What would be the mechanisms that you would use to evaluate that the lessons being learned in the workshop are working toward loss prevention?

-Please use examples to accentuate your plans and theories through academic criminal justice subject matter or real life criminal justice examples that are not in academic journals.

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