Quiz 2: Who Commits Fraud and Why

Business

1. In this case the problem is that the large credit sales have occurred without review or approval of the customers: In this case there should be the segregation of the duties so that one person does not hold whole of the authority. 2. In this case the problem is that hid his theft of $ 200 from the Company's Bank account by overstating the outstanding check: In this case there should be the Independent Check where the work of one person shall be monitored by the others. 3. In this case the problem is that the Michael Meyer steals the inventory and hides his thefts by overstating the physical inventory accounts: In this case physical safeguards should be affected as it protects the assets by fraud and other means. 4. Here, the problem is that the reports are sometime filled out days after shipments have arrived: In this case the safeguard should be the Documents and Records as it will allow creating a record of transactions and an audit trail.

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According to the Researches, we find that anybody can commit fraud. It is quite difficult to make a distinction between the fraud person and other people. Comparing the appearance and personality of the prisoners accused for assets offenses and fraud people, the researchers find that the fraud people are quite different from the prisoners. The fraud perpetrators are middle-aged people of which the percentage of male is quite larger than that of female. The persons those who commit fraud are relatively educated. They are quite spiritual as well. Their criminal records are quite less. They are not that addicted to alcohols and drugs. When the fraud people are compared with college students, the difference is comparatively less. Like college students, the fraud people are positive and full of self-respect. Their accomplishment and inspiration level are moderately high. However, they are more untruthful and self-regulating people. Their appearance and behavior are more or less similar to the people who have qualities that organization look for hiring their employees. The organizations must be careful about distinguishing the innocent and honest people from the perpetrators.

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