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Cases of Fraud in the Business Place

Cases of Fraud in the Business Place

Being a businessperson includes many risks and sacrifices in order to become successful. One of the reasons that companies are failing is due to the fraud of their employees. In order to avoid these problems, the companies that contain a large amount of employees must take the correct precautions.

All people in general are capable of committing an action of fraud. Doing something wrong or right is in the nature of all people. Jack Bolgna says in Corporate fraud, “the deference between people and other animals is that people can use the power of reason” (1). However, this ability of using reason is not always about the truth, some people use it to destroy truth by doing actions of fraud. In addition, the basic theory that Bolgna is writing about is that truth and justice and untruth and injustice are actions that depend on each other. For example, if the actions of fraud are increasing it is because more justice and truth exists in the society and for that reason it allows fraud to expand.

What exactly is fraud? Most of the times fraud can be misunderstood, talking about it do not mean that is easy to understand it, to really know what its exact meaning is. Bolgnas ideas in this subject are that “fraud, as it is understood today, means an intentional deception or a willful misrepresentation of material fact” (2). Fraud is defined as lying and cheating. However not all lies are actions of fraud. For example, in a business lies may be actions of misinformation, miscalculation or just a “white lie”. Based on Bolgnas theories, a good synonym for fraud is cheating.

Being able to understand what the meaning of fraud is one must be able to determine the causes of fraud in the companies. The main causes of fraud are bad management, employees with no personal integrity, opportunities to commit actions of fraud and situational pressures.

Bad management is a main reason that allows fraud to take place. As Al Gini said in his book My Job My Self, “A big part of the reason many of as don’t like our jobs is the people we work for our bosses or leaders-and the values of the work place itself” (151). If the managers of a company are not examples to follow how can the employers who have less...

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Category:   Law

Length:   12 pages (2,744 words)

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