Week 9 Journal.docx

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Running head: ANALYZING CAUSES OF FINANCIAL STATEMENT FRAUD AT DIAMOND FOODS 1 Analyzing Causes of Financial Statement Fraud At Diamond Foods Kanya Laing Course Instructor March 13, 2018
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ANALYZING CAUSES OF FINANCIAL STATEMENT FRAUD AT DIAMOND FOODS 2 In an organization there is fraud is a common thing and results in huge losses and damages to them. There are three types of people who commit financial statement fraud; Organized criminals According to the book, organized fraud and crime, May, the author argues that organized criminals are linked with about 31% and 45% of the financial frauds in most companies (May 2018). The argument is supported b both the Perpetuity Research and the Police Foundation. Frauds caused by organized criminals are regarded as the most destructive to victims compared to any other types of fraud. When an organized gang hit its victim its estimated equivalent amount of 10.260 Euros is lost compared to 3,982 Euros from other types of frauds (Coenen, 2008).
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