‘Business unusual’ has created opportunity for fraud, and it’s going to get worse

A global recession was expected in 2020 before the world was hit by a pandemic the likes of which had not been seen in 100 years. The 2008 global financial crisis demonstrated that fraud thrives when attention is focused elsewhere.

Means : Millions of jobs have been lost for good and hundreds of millions are under serious threat. Most employees are capable of perpetrating fraudulent acts in certain circumstances. A lack of job security combined with limited bonus prospects and excessive financial commitments will push some over that ethical cliff. Managements are also under pressure to mitigate poor financial performance that would drive share prices down further. This will lead to fraudulent financial reporting.

Payroll fraud: Substantial and sudden changes in workforce numbers lend themselves to “ghost” employees, overpayments and diversion of funds.

Россия Последние новости, Россия Последние новости

Similar News:Вы также можете прочитать подобные новости, которые мы собрали из других источников новостей

BUSINESS MAVERICK: Covid-19 Insurance Fiasco: Some disasters can create opportunitiesPublic sentiment is overwhelmingly in support of the hundreds of restaurants and hospitality businesses denied cover by their insurers. Business Maverick chats to the main man in their corner, and asks him what is public loss adjusting anyway?
Источник: dailymaverick - 🏆 3. / 84 Прочитайте больше »