By: Preet Bharara United States Attorney for the Southern District of New York
“People in my position fear that in too many places and in too many quarters, a culture of minimalism has taken root. Ethical standards have been lowered to doing only what is required to avoid an enforcement action or a criminal charge, rather than focused affirmatively on doing the right thing, staying comfortably clear of the line, and earning a robust reputation for integrity and honesty. Minimizing probity to maximize profit is a sucker’s game, but it is played every day.
“This impulse is troubling to prosecutors and outrageous to a public that expects American companies to aspire to more than the bare minimum. It does not suffice for a leader to give pro forma admonitions to behave honestly. A requirement to attend training sessions in the minutiae of the regulatory structure constitutes the bare minimum. So does the mere existence of compliance programs fly-specked by a hundred lawyers.”
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The seventh issue of the Association of Certified Fraud Examiner’s (ACFE’s) Report to the Nation on Occupational Fraud and Abuse is now available.
The 2012 Report to the Nations is based on 1,388 cases of occupational fraud that were reported by the Certified Fraud Examiners (CFEs) who investigated them. These offenses occurred in nearly 100 countries on six continents. The data demonstrates that consistent patterns of fraud are found around the globe. This consistency reaffirms the value of the ACFE’s research efforts and the reliability of the findings as truly representing the characteristics of fraudsters and their schemes.
The information contained in this Report can help in your efforts to prevent, detect or simply understand the global economic impact of occupational fraud. If you would like a free hard copy of the report, please contact PBTK’s Director of Forensic Accounting and Litigation Services, Mike Rosten at firstname.lastname@example.org or 702-384-1120, or a digital copy is available here.