Fraud and Fraud Prevention Strategies Paper

Jun 29th, 2015
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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.

Word Count: 780
Showing Page: 1/5
Fraud and Fraud Prevention Strategies PaperNameClassDateProfessorFraud Fraud is the intentional act of stealing another individuals identity or misappropriating funds from a business or an organization. These individuals intentionally steal money from their business or commit acts of deception to gain the money of their victims. They use forgery or alter documents in order to commit these acts of fraud and use the identification of others to gain access to financial and private information. The individual profits from these legal activities and can destroy the credit rating of individuals that have their identities stolen. Identity theft is a form of fraud and one of the fastest growing crimes in American society. Over 11 million adults were victims of identity theft in 2009 and the total fraud amount was $54 billion (2010). Measuring fraud is an elusive target. No single national agency gathers omnibus fraud statistics (2010). The numbers of identity theft crimes continue to rise every year and one in ten Americans will fall victim to this type of crime. It is important for companies to protect the private information of corporate executives and other staff members. The company will need to employ a prevention plan that includes a clear fraud policy. They will need to use detection strategies such as internal audits, internal controls, external audits, and designated reporting structures. Their needs to be an effective response

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