Fraud Exposed: What You Don't Know Could Cost Your Company Millions / Edition 1

Fraud Exposed: What You Don't Know Could Cost Your Company Millions / Edition 1

by Joseph W. Koletar
     
 

ISBN-10: 0471274755

ISBN-13: 2900471274758

Pub. Date: 03/14/2003

Publisher: Wiley

As an estimated $600 billion a year "industry," occupational fraud dwarfs most legitimate industries many times over. Yet the vast majority of organizations -- private, public, governmental, or nonprofit -- have woefully inadequate internal controls, and what energy is devoted to combating workplace fraud is generally spent on post-infraction detection and punishment,…  See more details below

Overview

As an estimated $600 billion a year "industry," occupational fraud dwarfs most legitimate industries many times over. Yet the vast majority of organizations -- private, public, governmental, or nonprofit -- have woefully inadequate internal controls, and what energy is devoted to combating workplace fraud is generally spent on post-infraction detection and punishment, rather than on cost-effective preventive measures. In Fraud Exposed: What You Don't Know Could Cost Your Company Millions, former FBI executive and corporate security chief Joseph Koletar blows the roof off the "dirty little secret" of occupational fraud, proposing new methods for reducing this extraordinary liability.

Applying criminal and law enforcement response models to the workplace, Koletar analyzes seemingly disparate topics such as financial controls, organizational intelligence, and game theory to show how fraud examination methodology must change in order to become more effective. High-profile, high-level cases such as Enron and Global Crossing are dramatic examples of workplace crime, but they are only the tip of the iceberg. Kickbacks, largescale diversion of goods and services, and the creation of "ghost vendors" are surprisingly common phenomena in such industries as retail, manufacturing, health care, education, financial services, entertainment, advertising, waste management, and energy, costing these industries millions upon billions of dollars every year. And these costs do not simply "go away." They result in higher prices to consumers, lower profits to companies and shareholders, higher cost to taxpayers, lower bonuses to managers and executives, poorer performance on Wall Street, negative impacts on pension and retirement plans, and the failure of more than a few businesses.

Fraud Exposed takes on the status quo, showing how traditional methods of dealing with occupational fraud are inadequate and how an organization's mind-set must change if it is to be more effective in dealing with this problem. Koletar debunks fraud orthodoxy, approaches the problem from a fresh angle, and presents provocative new strategies. There is no magic solution to this $600 billion problem. But Fraud Exposed presents both a startling, comprehensive account of the dilemma and a road map to reducing workplace fraud.

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Product Details

ISBN-13:
2900471274758
Publisher:
Wiley
Publication date:
03/14/2003
Edition description:
New Edition
Pages:
288

Table of Contents

Preface
Acknowledgments
Introduction
1Crime and the Law Enforcement Response1
2Rethinking the Assumptions17
3The State of Occupational Fraud33
4Theories of Occupational Fraud52
5Lies, Damned Lies, Statistics (and Occupational Fraud)75
6Thoughts on Occupational Fraud86
7What Can We Learn?95
8Internal Controls103
9Compliance Programs123
10Community, Corporate Citizenship, and Quality of Life134
11What's New?151
12Partnerships for the Future182
13Environmental and Organizational Intelligence190
14Reconceptualization199
15Leadership212
16The Next Five Years221
Endnotes241
Index267

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