Tragedy of Fraud - The Ripple Effects from Fraud and the Wages Earned
Fraud has tragic effects on innocent people who didn’t commit the fraud. The person who did the deed will pay severe prices far beyond what the judge imposes. Just like a stone thrown into a pond causes ripples all across the water, so a fraud ripples out to cause all sorts of harm. Case study of bookkeeper in a local church and mayor of a small city describe the ripple effects. More
Just like throwing a stone into a calm lake produces ripples all over the water, fraud creates widespread ripples.
Chapter 1 discusses the tragic effects of a fraud in a local church. The damage spreads out to harm a lot of people. The wide ripples in the life of the fraudster and surprise victims are rarely seen.
Chapter 2 discusses the wages of fraud. Wages are something we work for, deserve, and are entitled to. Likewise in a fraud there are wages rightfully earned that will be paid in full. Wages for a mayor include jail, publicity, loss of employment, bankruptcy, and divorce.
Chapter 3 looks at the fraud in the mayor’s office as a case study of why frauds in general are difficult for an auditor to find. Corruption frauds are even tougher to uncover.
Chapter 4 discusses the three sides of the fraud triangle and what organizations can do to minimize the factors. When opportunity, motivation, and rationalization get together, the conditions are set for a fraud.
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