Is Fraud A Greater Threat Than Realised?
It is possible to estimate the level of fraud that occurs around the world. Many bodies attempt to do this to raise awareness over the problem. However, there is so much more fraud around than is commonly recognised and given that it is also a secret crime, even the most optimistic estimates are likely to be on the low side. The only bright side to the problem is the fact that the effect of fraud on the world's economy is likely to be less than most people think.When a forensic accountant is asked to investigate a corporate fraud he will most likely attempt to quantify how much money has been lost. There will also be other tasks such as plugging the leak, tracing and recovering the losses and assisting with dealing with the culprits, either through the civil courts or if the law enforcement agencies get involved. However, it is likely that a value can be placed on the fraud. This will be a quantity of money that has been lost to the business.