ECONOMICS - A Snitch In Time Can Save Employers a Lot of Money

In my article last week I noted that theft, corruption, embezzlement, and related ?occupational frauds? are rampant in American business and account for billions of dollars annually in losses. On a global basis, the estimate is an astounding 3.5 trillion dollars. Statistically, internal theft and other schemes carried out by trusted employees are the source of the problem. At the end of this article I list several recognized security and accounting controls that should be implemented within any commercial, government or other entity to prevent, deter and detect abuse. As noted in the ACFE Report to the Nations, implementation of one or more of these controls can significantly reduce exposure to losses from insiders.

http://www.forbes.com/sites/marcwebertobias/2012/12/30/a-snitch-in-tim