11\/11\/2013 Occupational Crime - Occupational Crime Fraud Schemes tend to be extremely costly Schemes frequently continue for years before detected

11/11/2013 Occupational Crime - Occupational Crime Fraud...

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Occupational Crime Fraud Schemes tend to be extremely costly Schemes frequently continue for years before detected Detected by tip rather than audit controls Lack of internal controls Most often committed by accounting department of upper management Generally first time offenders Behavioral traits: living beyond their means or financial distress Manufacturing, banking, and insurance industries Bribery Definition: Offering, giving, receiving, or soliciting anything of value to influence an official act History: Latin America “the bite” Italy “little envelope” France “jug of wine” America “grease” (don’t need to know that) Commercial Bribery : Definition: giving or receiving anything of value to influence a business decision without the employer’s consent Study of 239 International contracts from 94-98 bribes of 108 billion Normal business practices: “questionable payments” customary in international business practices. CB vs. corruption is employer’s consent or knowledge Occurs in highly competitive industries: greater competition, greater the need to resort to bribery. Top industries: drug, aircraft oil, and food Purchasing Agents: first targets: paid to make decisions Dummy firms Sales Agents: conduit for payoffs, know local agents customs, what to use as payoffs.
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  • Fall '16
  • Steve Evens
  • Political corruption, Business decision, Normal business practices, highly competitive industries, local agents customs, unfavorable government action

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