Frauds in Business Organizations: A Comprehensive Overview

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Date

2021-03-01

Journal Title

Journal ISSN

Volume Title

Publisher

IGI Global

Abstract

Fraud has been evolving and increasing with the change in the work environment, organizational structures, industrialization, and legislation. Money, greed, manipulation, job pressures, family needs, opportunity, politics, rationalization are the crucial reasons that lead people to behave fraudulently. The purpose of the chapter is to discuss a brief overview of theories of fraud. It presents causes that inspire individuals to commit fraud, methods for identifying fraud, and motives that encourage people to commit fraud. Management must try to eliminate the vulnerabilities that offer criminals the chance to commit fraud. Organizational leaders must be diligent, implement a robust anti-fraud strategy, and discourage all improper practices. Employee performance can also be strengthened through realistic anti-fraud preparation, and conformity with legal and regulatory obligations. Thus, fostering an ethical corporate culture is essential for fraud prevention.

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Keywords

Frauds in Business, Scam in business, Corruption, Business cheating, Business trickery, Swindling in business

Citation

Nakitende, M.G., Rafay, A., Waseem, M., 2021. Frauds in business organizations: A Comprehensive overview. In Rafay, A., 2021. Handbook of Research on Theory and Practice of Financial Crimes. Hershey, Pennsylvania, USA: IGI Global. Ch.2.