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Fraud Essay Essays, Book Reports, Term Papers
Fraud triangle or "Cressey's Triangle" is a model for understanding why fraudsters commit frauds and crimes. Fraud triangle is a thesis designed by Donald Cressey to understand why a trustee person would commit a crime and become violator of that trust. Cressey made two hundred interviews with previous fraudsters in prison. And from his study conclude three elements to commit fraud , (1) Financial pressure, motivation or incentive, happening in the fraudster personal life that create a stress and affect his work, and provide the motivator to make him think of solutions to solve this pressure. (2) Rationalization, results revealed from Cressey's research that most fraudsters don't have a criminal record; According to the Association of Certified Fraud Examiners "ACFE" report 93% of the reported fraudsters hadn't have any prior criminal convictions. (3) Opportunity. The last element of the Fraud Triangle, back to Cressey's study fraudsters have the knowledge and opportunity to commit their crime, Due to their long term tenure they become attentive to the weaknesses in the internal controls and have acknowledged how to plan and commit the fraud successfully. When motivation is accompanied with the right opportunities, the potential for fraud is increased.
Fraud Essay Fraud What is a Fraud
Evaluating anti-fraud processes and controls: organizations should be preemptive in reducing the chances of committing fraud by: identifying and measuring fraud risks.