How did lying become the norm at firms like VW? Four organisation-wide factors predict if people in a company will lie or not: lack of strategic clarity, unjust accountability systems, poor organisational governance, weak cross-functional collaboration. Find out more at https://blog.fraudcracker.com/4-ways-lying-becomes-the-norm-at-a-company/
Fraud against medical aid schemes is a big problem worldwide. But in South Africa, there is another aspect to the issue. And that is race. An organisation for medical professionals has accused SA’s top medical aids of racial profiling in their fight against medical aid fraud. Find out more at https://blog.fraudcracker.com/medical-aid-schemes-caught-in-a-vice-between-fraud-and-claims-of-racial-profiling/
We’re more likely to trust leaders who understand and embody the following 3 elements that underlie trust: positive relationships, good judgment and consistency. To find out more, go to https://blog.fraudcracker.com/the-3-elements-of-trust/
Strengthening the internal control system and the control environment will help reduce the likelihood of fraud happening as well as the impact of fraud, if it occurs. 49% of respondents in the 2018 PwC Global Economic Crime and Fraud Survey said their companies had experienced fraud or economic crime, compared to 36% in 2016. Read more at https://blog.fraudcracker.com/are-you-ready-to-fight-fraud/
In 2016, out of desperation while on a pilgrimage in France, former SAA treasurer Cynthia Stimpel sent a WhatsApp to National Treasury, warning them of a dirty deal in the making at SAA. It was ignored. They had blocked her at every turn, but Stimpel was relentless in her efforts to stop a R15b cash-raising deal from being pulled off outside of due process – and with the help of BnP Capital as transaction adviser for R225m – while South African banks could do it for +/-R85m. Stimpel was fired for standing up to corruption. Find out more at https://blog.fraudcracker.com/this-is-a-whatsapp-whistleblowing-message-i-dont-know-how-else-to-do-it/
After new allegations of KPMG cheating on internal training tests, audit committees now have questions about their external auditors’ own adherence to standards: are controls in place, are they well-designed, and are they operating effectively? Find out more at https://blog.fraudcracker.com/kpmg-fallout-cheating-allegations-raise-new-questions/
If something was seriously wrong at your company, would your staff tell you? Find out more at https://blog.fraudcracker.com/managers-arent-doing-enough-to-encourage-whistle-blowing/
A record 18% of CEOs in the top 2500 global public companies were replaced in 2018, with 39% fired for ethical lapses. This is according to a PwC study released May2019, It’s the 1st time in the study’s history that ethical lapses led the causes of CEO turnover. Read more at https://blog.fraudcracker.com/record-number-of-ceos-fired-for-ethical-lapses/
Data breaches, identity theft, online scams – every year, a destructive flood of fraud sweeps the world, leaving countless victims in its wake. For tips to help you steer clear of the most common financial scams, go to https://blog.fraudcracker.com/10-tips-to-avoid-common-financial-scams/
It’s vital for employees to voice their concerns when they see something worrying or unethical. But how do you make everyone understand that their voice is valued? Find out at https://blog.fraudcracker.com/create-a-workplace-where-everyone-feels-comfortable-speaking-up/
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