We have often heard the term money laundering and the  extreme of these money being used for terrorism purpose. Furthermore, regulators in US, UK and many other countries have instituted strict law and regulation  of which the responsibility is placed heavily on financial institutions to have controls in place so as to frustrate such money […]

What can we do to prevent fraud?
Prevention comes from:-
(a) The awareness of the circumstances where the risk of fraud is higher as well as
(b) Be aware of the various types of fraud, which could be perpetrated and
 
POSSIBLE STRATEGIES TO PREVENT FRAUD:
Two of the most important of which are:

adequate internal controls;
personnel polices and procedures.

(1) ESTABLISHING ADEQUATE INTERNAL CONTROLS:
Management […]

As we know, fraud can come in a variety of different forms and can happen at all levels in an organisation.
In a recent international survey undertaken by Ernst and Young they found that 75% of the sample of 1,200 companies world-wide were victims of fraud during the last 5 years. Of the worst fraud over […]

Reported in The Edge Malaysia (13/10/06),  Association of Banks In Malaysia (ABM) announced that out of a total of 159 online banking fraud cases in the first nine months of this year they were  mainly caused via PHISHING.

Phishing is the act of sending an email to a user falsely claiming to be an established legitimate […]

This is an old article regarding the trick in using revenue recognition to artificially inflate sales figures with the main objective of  bloating  the bottom line.