Occupational Fraud Costing U.S. Organizations 7% of Revenues, Examiners Report

July 15, 2008

  • July 15, 2008 at 1:53 am
    Nobody Important says:
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    What is the occupational fraud? Is this simple employee dishonesty? Back in 2001 a survey I saw said the total was 8% of revenues, so that would indicate less fraud. Could the writer of the article be more vague?

  • July 16, 2008 at 10:04 am
    anon says:
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    These days this word is thrown around waaayyy to losely. Acusing someone of Fraud is a VERY serious allegation and should not be wrecklessly thrown around. The author here did a VERY lousy job in writing this article and owes it to the readers to define exactly what he/she is talking about. Particularly, since the insurance industry witnessed a big lie from Eliot Spitzer about “massive fraud” when he attacked the industry in 2004. Recently, the courts ruled that Spitzer and Eric Dinallo completely misrepresented the facts at the time and found no Fraud and No Fiduciary duty.

  • July 16, 2008 at 6:42 am
    clm mgr says:
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    One interesting comment I heard years ago when I worked for a carrier that went into receivership was that the primary reason why companies fail financially is ‘defalcation’, which is money walking out the door in briefcases. Things appear to have not statistically changed much since those old days……

  • July 17, 2008 at 4:13 am
    Nobody Important says:
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    The survey I mentioned said that employee theft in 2001 was over $250,000,000,000 for that one year. I would say that nothing changes for sure.



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