Fraud :: essays research papers

FraudWhat is a Fraud? A skulker is when one party deceives or takes unfairadvantage of another. A spoofulence includes any act, omission, or concealment,involving a breach of legal or evenhanded duty or trust, which results indisadvantage or injury to another. In a court of law it is necessary to provethat a spurious representation was made as a statement of fact, that was made withthe pattern to deceive and to induce the other party to act upon it. It must beproven that the person who has been de burlesqueed suffered a injury or damage fromthe act.Who broadcasts a fraud and why? It is generally accepted that 20 portion ofemployees be honest. Another 20 percent ar dishonest and dont mind doingwrong. That nitty-gritty the remaining 60 percent are potentially dishonest, thats a resume of 80 percent of employees which may be dishonest. To understand fraud you set-back have to determine the contributing factors to why people commit fraud. any(prenominal) people commit fraud f or the sport and thrill of it. There are otherrecognizable reasons why honest people may commit a breach of trust. Need is themost common reason. A direful financial need is usually the cause of mostfrauds. Still rough people commit fraud to pay for an elevated life mood whichother wise they could not afford. Needs arise from a phone number of locations theseinclude Drug or alcohol addiction, Marriage break-ups and/of extravagant distinguishaffairs, Gambling Debts, Business losses, Unexpected family crises, Mountingdebts, and the desire to live a lifestyle far beyond ones means. Fraud is costing society some(prenominal) hundred billion a year. Organizationsloose close to 6 percent of annual revenue to fraud and abuse of social systems.Fraud be Canadian organizations $100 billion annually. On the average,organizations loose $9 dollars a day per employee to fraud. On an average offraudulent cases males received $185,000 and females received $48,000. A studydone by the insurance industry indicates the groups most liable(predicate) to commit fraud.The most typical person who may commit fraud is a college/university educatedwhite male. Men were responsible for almost tetrad times the fraud as were females.Losses caused by people with post-graduate degrees were quin times greater thanthose caused by high school graduates. Fifty ogdoad percent of fraud is committedby employees, which averages $60,000 per case. Twelve percent of fraud is causeby owners, which on the average costs the insurance companies $1 million percase. Fraud increases the cost of Canadians everyday living. It affects bankrates, insurance rates, recognition card rates, and product costs.