What Is Job Fraud?

2010/12/10 11:29:00 57

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Definition of fraud

Job fraud is the act of deliberately misusing or abusing the resources or assets of the employed organization for personal gain.

Small to the petty theft of material to employees, big enough to cheat through financial statements, job frauds cover all kinds of improper behaviors of internal staff and managers at all levels.

Characteristics of job fraud

Job fraud has the following four characteristics:

(1) conduct secretly;

(2) violating the trustees of enterprises.

responsibility

;

(3) the purpose is to direct or indirect financial interests;

(4) the assets of the enterprises are reduced, or the income of the enterprises is reduced.

Manifestation of job fraud

(1) embezzlement and Bribery: the fraudsters do all kinds of business links in purchasing, selling, bidding and so on.

Hands and feet

The use of authority for personal gain is contrary to the responsibility of the employer and infringes upon the rights and interests of others.

(2) the illegal appropriation and embezzlement of assets: obtaining cash by means of stealing cash and withdrawing bank deposits from private sources; interception of cash by means of missing or less income; cash receipts included in accounts receivable, or withdrawal of receivables as bad debts verification and other means to acquire cash; and various means of obtaining illegal interests by misappropriating or stealing company's physical assets.

(3) providing false financial statements: providing false foreign financial statements or various internal reports by overestimating assets, multi accounting income, underestimating expenses, incorrectly preparing various preparation, changing the entry time of income costs, improper disclosure or not disclosing relevant accounting information.