How to protect yourself from Occupational Fraud
What is an Occupational Fraud? Occupational frauds are those during which an employee, manager, officer, or owner of a corporation commits fraud to the detriment of that organization . The three major types of occupational fraud are: Corruption, Asset Misappropriation, and Fraudulent Statements. CORRUPTION Of the reported cases of occupational fraud in Canada, 40 per cent involved corruption, during which an owner, executive or employee abuses his or her power to subvert the decision-making process for private or company gain. (Some cases of corruption can also involve misappropriation or budget fraud.) Examples include: 1. Collusion with a vendor to form false payments for goods or services that were never delivered. 2. Collusion with a health care provider to make false insurance claims. 3. Kickbacks, during which an employee ...