Corporate Fraud

Definition of Corporate Fraud

Corporate fraud refers to financial crimes committed either by a corporation, or by individuals acting on behalf of a corporation or other business entity.

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Ways to prevent Executive Fraud in the Workplace

There are several keys for effective fraud prevention, but some of the most important tools in the corporate toolbox are strong internal controls. Equally important, though, are the company's attitude towards fraud, internal controls and an ethical organizational culture.

1. Check employee references.

2. Do additional research.

3. Control who reviews sensitive documents.

Two things victims of corporate fraud can do

The Victims of Corporate Fraud Compensation Fund (VCFCF) provides limited restitution to victims of corporate fraud who have otherwise been unable to collect on their judgment.

There are also legal law firms that can also provide restitution to the individuals that were affected by this crime as well.