About the Book
Never before has the severity of business fraud and embezzlement reached the magnitude that it has today. Billions upon billions of dollars are lost annually to these crimes. Given that internal fraud is prevalent and ongoing—almost certainly happening in hundreds, if not thousands, of businesses throughout the United States every year, the number of people seriously affected or ruined has to be gigantic. Google the word “embezzlement” and you will likely find over 2.9 million hits on that word. Next, try “bookkeeper arrested embezzlement” and do not be surprised to find more than 500,000 hits on this position alone. Actual case histories and ongoing research show that no operation, including YOURS is immune from internal fraud or embezzlement.
How can such costly illegal acts continue to grow and thrive in today’s high-tech world of crime fighting?
Business Fraud: From Trust To Betrayal reveals the shocking rationale behind why these crimes are occurring in practically every type of business imaginable and offer suggestions on how you can prevent such occurrences from happening within your organization.
Why this book?
After investigating and closely analyzing crimes against businesses for over forty years, Jack L. Hayes one of the nation’s top experts on business crime was able to identify a new, smarter, and more cost-effective way to minimize internal fraud within all types of business operations, and that is what Business Fraud: From Trust To Betrayal is about! Most importantly, this book will introduce Preventive Management, the most revolutionary breakthrough in preventing and combating internal fraud and embezzlement that has taken place within the business world in decades. You will find that this book’s unique strategies differ greatly from those long-established methods described in other business fraud books that are currently on the market in two ways:
- First, whereas traditional methods of internal fraud prevention and detection rely primarily on those procedures executed by internal auditors, external accountants, security personnel, and fraud investigators, and involve management merely as a secondary participant, the Preventative Management approach primarily evolves around the important role that management plays in preventing these crimes within their operation.
- Secondly, contrary to accountants, auditors and others relying on internal controls and periodic audits to deter and detect internal fraud and embezzlement, this book’s highly proactive approach tackles the problem of internal business fraud up-front and therefore minimizes or eradicates such costly risks before they have the opportunity to take root.
In addition, Business Fraud: From Trust To Betrayal will:
- Provide a number of factual anecdotes to demonstrate the extent of damage that business crime can have on any organization. In-depth case history analyzes reveal what went wrong in several operations and this information is used to illustrate how this crime can easily occur inside of the most unsuspecting operation. Each of these case examples expose those tasks creating the greatest risk for significant theft to occur.
- Reveal the six highest-risk mistakes most often made by management and explain how those in charge can gain better control over similar risks within their areas of responsibility.
- Describe the profile of a dishonest employee, their work habits, and warning signals. In addition, your know-how in preventing acts of dishonesty will be maximized as you analyze ways to deal with the three critical factors that must come into play in order for business fraud or other act of dishonesty to occur.
- Explain the critical role a business’s culture plays in theft prevention and include ideas that will enable business managers to develop and introduce a positive climate of honesty within their operation or organization.
- Provide information that explains how a series of low cost, yet highly effective anti-fraud strategies can dramatically reduce any operation’s risk to internal fraud and theft.
The Preventative Management methodology is based on exhaustive hands-on research; hundreds of interviews with criminal perpetrators; numerous manual and computerized risk analyses in a wide-variety of business operations; testing and re-testing of multiple internal controls to identify what works and what does not. Most importantly, this approach is not some unproven theory or academic model. It unveils the way that an effective internal business fraud and embezzlement deterrence program actually works.
Business Fraud: From Trust To Betrayal is the first book of its kind written primarily for business owners, managers, supervisors, and every individual holding or preparing for a position of responsibility within ANY type of organization. This book is also a great learning tool for college students.
This book is divided into 5 parts and 15 chapters presenting you with a wealth of evolving information. Chapters 1—9 addresses the complexity and negative impact of business fraud and embezzlement through the use of actual case histories that reveal how these crimes occur, the author’s experiences and research, and explanations of how needless risks are created at the management level. Chapters 10—14 focus on prevention and how-to fix those previously discussed risks. The book ends with Chapter 15’s Putting It All Together – Seven Steps to Success. This chapter contains a series of cost-effective strategies to help minimize, if not eliminate, internal fraud and embezzlement risks in any type of business organization. Equally important and found in Appendix 1 is a unique Internal Fraud Risk Assessment Survey. This comprehensive questionnaire is designed to help you identify your operation’s risk to internal fraud.
Author Jack L. Hayes says, “If you meticulously read chapters 1—15, accurately complete the Internal Fraud Risk Assessment Survey, and follow the unique Preventive Management principles described in this book, you will dramatically reduce your operation’s risk of internal fraud. In many instances, as an added bonus, you will also improve your operation’s climate of honesty, and simultaneously take a few most positive steps that should help to boost your employees’ morale.”
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