Fraud
What is a ? A is when one party deceives or takes unfair
advantage of another. A includes any act, omission, or concealment,
involving a breach of legal or equitable duty or trust, which results in
disadvantage or injury to another. In a court of law it is necessary to prove
that a false representation was made as a statement of fact, that was made with
the intent to deceive and to induce the other party to act upon it. It must be
proven that the person who has been defrauded suffered a injury or damage from
the act.
Who commits a fraud and why? It is generally accepted that 20 percent of
employees are honest. Another 20 percent are dishonest and don't mind doing
wrong. That means the ...
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life style which
other wise they could not afford. Needs arise from a number of locations these
include: Drug or alcohol addiction, Marriage break-ups and/of extravagant love
affairs, Gambling Debts, Business losses, Unexpected family crises, Mounting
debts, and the desire to live a lifestyle far beyond ones means.
Fraud is costing society several hundred billion a year. Organizations
loose close to 6 percent of annual revenue to fraud and abuse of social systems.
Fraud costs Canadian organizations $100 billion annually. On the average,
organizations loose $9 dollars a day per employee to fraud. On an average of
fraudulent cases males received $185,000 and females received $48,000. A study
done by the insurance industry indicates the groups most likely to commit fraud.
The most typical person who may commit fraud is a college/university educated
white male. Men were responsible for almost four times the fraud as were females.
Losses caused by people with post-graduate degrees ...
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of hiding fraudulent funds. Criminals often conceal
illicit payments, launder their money, Hide it in complex computer programs,
on/off in book transactions, off shore transactions, and net worth computations.
Fraud is on the rise and the resources to combat it are on the decline,
thus making fraud investigators jobs that much more important. Many crimes,
particularly those which are non violent crimes are going unattended by the
police because they just don't have the man power to combat it. They are willing
to look into fraudulent claims but as of recent they lack the time and resources
to give these crimes all the attention they require. The police are now working
in co-operation ...
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CITE THIS PAGE:
Fraud. (2006, June 10). Retrieved November 28, 2024, from http://www.essayworld.com/essays/Fraud/47292
"Fraud." Essayworld.com. Essayworld.com, 10 Jun. 2006. Web. 28 Nov. 2024. <http://www.essayworld.com/essays/Fraud/47292>
"Fraud." Essayworld.com. June 10, 2006. Accessed November 28, 2024. http://www.essayworld.com/essays/Fraud/47292.
"Fraud." Essayworld.com. June 10, 2006. Accessed November 28, 2024. http://www.essayworld.com/essays/Fraud/47292.
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