Most Internal Fraud Still Swept Under the Rug

LOS ANGELES — Even when employers have good cases against internal fraud, they often don’t refer them to law enforcement. Many companies handle instances of such fraud internally and very quietly make the employee “go away.”

But that can be a mistake, said fraud experts and prosecutors at Information Security Media Group’s Fraud Summit in Los Angeles last week.

So why do many organizations not report? The fear of bad publicity and that their share price will take a hit if investors and customers learn that the organization’s poor controls left it vulnerable to internal fraud, said Allan Bachman, education manager at the Association of Certified Fraud Examiners.

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