There is npthing new under the sun about fraud. The only thing that changes is the type of fraud committed. This recession, based on a global credit crisis, has its own particular qualities that mean certain kinds of fraud will be more prevalent than others. The typical fraudster is a university-educated male. Men commit nearly three-quarters of all frauds. Nearly half of employees who turn to fraud have been with their employer for more than five years. Whether an employee turns to fraud will depend on the individual's integrity (or lack of it), the opportunities available and the pressure exerted on that individual. In a recession, there is an increase in both of the latter. Cutbacks mean fewer staff and hours to monitor internal controls. Senior managers with the experience to spot fraud in its early stages are often the first to go. It's no surprise that fraud increases in these circumstances.
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