What Can A Delaware Business Do To Prevent Fraud?
Take a look at today's news articles, and you can't help but see the word "fraud." For instance:
CNNMoney.com
Bernard Madoff, the alleged perpetrator of what could be the largest Ponzi scheme in history, relied on a network of leverage providers and controversial fee arrangements built up over more than a decade to feed his operation. The scandal, which may trigger at least $17 billion in losses, shows how much the hedge-fund business relied on trust and personal relationships rather than the rigorous due diligence typically demanded by institutional investors and lenders that have come to dominate the industry in recent years.
Seattle Times - 12/18/08
Former Entellium financial officer Parrish L. Jones pleaded guilty Wednesday to one count of wire fraud in U.S. District Court in Seattle, admitting to falsely inflating company revenues in a scheme to deceive investors over four years.
Atlanta Business Chronicle
An Alpharetta, Ga., man pleaded guilty late Wednesday in federal district court to conspiracy to commit wire fraud for his part in a scheme to defraud a California construction firm of nearly $13 million.
Wall Street Journal
Dealer Fraud Cases Expected to Rise Amidst Bleak Retail Season
If you're a business owner in Delaware, or anywhere else for that matter, what can you do to prevent fraud? A good first step is to read a report that's just been released called "Managing the Business Risk of Fraud: A Practical Guide." This set of guidlines is sponsored by The Institute of Internal Auditors, The American Institute of Certified Public Accountants, and the Association of Certified Fraud Examiners.
