Occupational Fraud and Abuse

Occupational Fraud and Abuse

Occupational fraud and abuse is a widespread problem that affects practically every organization, regardless of size, location, or industry. It comes in many shapes and sizes and it’s growing faster than ever. From the report of the association of certified fraud examiners to the nation in 1996, Fraud and abuse cost U.S. organizations more than $400 billion annually and is raised in 2002 to be more than $600 billion annually. That’s why it is so important for us to learn about occupational fraud and abuse. Before we illustrate about causes and factors that effect directly to fraud, we will talk about its basic first.
I. What is Fraud?
What is Fraud? According to Black’s Law Dictionary, fraud is: A generic term, embracing all multifarious means which human ingenuity can devise, and which are resorted to by one individual to get advantage over another by false suggestions or by suppression of truth, and includes all surprise, trickery, cunni...