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Essentials of Corporate Fraud - Assignment Example

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The paper “Essentials of Corporate Fraud” seeks to evaluate a number of fraud schemes that such managers may be involved in. Given the observations of the credit manager’s behavior and his job description, he may have engaged in two fraud schemes: Bribery and Extortion…
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Essentials of Corporate Fraud
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Download file to see previous pages Extortion; refers to the deliberate action of a person to commit theft by seeking to obtain property or services through advancing threats to others (Coenen 2008). One specific element of extortion that the credit manager may have participated in is exposing secrets or thought facts, which may be true or untrue with the intention of subjecting anyone to hatred, contempt or mockery or to damage the individual’s credit or business.
The manager’s operations can be vetted to detect any instances of fraud. A board of vetting can be hired or instituted to assess the extent of his actions, especially to track his dealings with the applicants.
The credit manager’s transactions with the credit applicants can be evaluated through a credit assessment report. It will can a brief description of the two parties’ submission during the process of credit application and evaluation. The report has to be signed by both the manager and the client. It will state whether the client has been subjected to any form of extortion or not.
The clients/ customers/ applicants of loans can be given an avenue of reporting their grievances to the company. Such avenues can be in form of a quality check/ control for the services offered to them by the credit manager. Through such avenues, they can reveal instances of extortion or attempts of the same to the company.
c. Suppose there was no direct evidence of fraud detected in the credit manager’s operations, there will be no action to be taken on this case, against him. He is well known as a very hard worker, who lives close to the branch and frequently works late into the evening. He also has not taken any vacations in three years in spite of the bank policy that all employees take a least a weeks vacation every year.  ...Download file to see next pagesRead More
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