Corporate fraud

Have you ever fiddled your expenses? If the answer is yes, according to recent research you are not alone.

A study found that some businesses have seen a 30 per cent increase in staff fraud in recent years, while the value of employee fraud has increased by 80 per cent since 2005.

Experts warn that becoming a victim of fraud can damage a business's reputation, brand and staff morale - as well as losing it money.

And they say the scale of the problem of financial crime is hidden by the fact many cases are settled quietly, without any publicity.

Then there are the high-profile examples, like that of Jerome Kerviel, who's been blamed for costing his employer, the French bank Societe Generale, 4.9 billion euros (£3.7 billion). Mr Kerviel is under investigation for breach of trust, computer abuse and falsification.

So how do businesses - small and large - cope with a dishonest employee? What are the threats from outside the firm?

Is enough being done to investigate cases of corporate fraud? And what does it cost the Welsh economy?


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