Corporate Resiliency
Managing the Growing Risk of Fraud and Corruption
Chapter One
Can We Eliminate Fraud
and Corruption?
Key points:
> Fraud itself cannot be eradicated, but fraud and corruption
risks can be managed like other business risks.
> Fraud and corruption risk management strategies can help companies
avoid some frauds and help them reduce the impact of
frauds that occur.
> Resilient corporations focus more on strategies, not tactics, for
managing fraud and corruption risks intelligently.
> In today's more brittle economy, fraud and corruption can more
easily set off a chain of events resulting in significant loss for the
companies affected.
Not a pretty picture
It is quite likely that fraud has existed in one form or another since
the earliest days of organized societies. Despite the fact that it is
illegal in most countries, despite the vigorous enforcement of anti-fraud
laws in many countries, despite corporate self-policing, and
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