Page 1, Taken from the book

From the book; "Protecting Your Corporate Assets" by Martin Maylor; info@insurium.com

Corporate Fraud is a silent crime. You won’t see any fast car chases through the street nor will you see gun-fire in the office or even a bleeding victim wounded by law enforcement. This type of fraud hides in the background like a predator waiting to pounce on it’s victim at the right time and in the right setting at a time when they are most vulnerable. Occupational fraud nonetheless is a devastating crime and worldwide, fraud in all forms – costs trillions of dollars in damages and it costs you too. This publication has been designed to help you implement some prevention strategies that will bolster your current efforts to curtail occupational crime. These include safeguards against employee dishonesty, ways to control shoplifting, means to outwit those who pass bad checks and means to prevent burglaries and robberies. This publication also takes a look at identity theft, safeguarding confidential data that is entrusted to your organization.

Some examples of what fraud looks like;

• A telemarketer calls your home and claims you have won an expensive holiday for free. Then proceeds to advise you that you must pay $100 to process your claim and claim your prize. Once enough money is received from their victims the telemarketer simply disconnects the phone and disappears.

• An executive at your company fears that the companies earnings are less than expected, overstates the company’s assets to show false profits. When the fraud comes to light, the company’s reputation is tarnished and it goes out of business. Thousands of people including you are let go – you are now unemployed. Everyone loses and pays for fraud.

• A con artist deposits several hundred thousand dollars worth of forged cheques into an account and later withdraws the money, defrauding the bank. The bank raises it’s service fees to all customers in an attempt to cover the loss. We all lose and pay for fraud.

• A military contractor for the federal government falsifies tens of millions of dollars in reimbursable costs. Taxes are increased to cover the loss. Again we all lose and pay for fraud.

• A co worker at your company embezzles money. As a result, profits are lower than they should have been and forces the company to delay in rewarding it’s loyal employees through annual bonuses at Christmas time. Fraud costs us all, we all lose and we all pay.

As you can see, we all pay for fraud both directly and indirectly. This does not mean that we as public members are defenseless. In fact there is a lot all of us can do to avoid becoming a victim of fraud. It starts here, by being well informed. Because the more you know about fraud, the less likely you are to become a victim.

In the war on fraud, information is the armor needed to protect us. The more we know, the less likely we are to become a casualty.

Taken from the book; "Protecting Your Corporate Assets" by Martin Maylor; info@insurium.com

© Copyright 2013Insurium All rights reserved. Insurium has granted theNextBigWriter, LLC non-exclusive rights to display this work on Booksie.com.