INNOVATION OF FRAUD DETERRENCE SYSTEM IN THE ORGANIZATION USING FORENSIC ACCOUNTING AND DATA MINING TECHNIQUES
Pornchai Naruedomkul, Pannipa Rodwanna · Research Journal of Social Science & Management · 2012
Corporate fraud is a critical issue in the businesses around the world including Thailand nowadays. The losses from fraudulent activities affect about 5-7% of annual business revenues. This research attempts to identify the risk factors causing frauds, develop a risk model to identify potential frauds and develop a fraud deterrence system for corporate fraud. Qualitative and quantitative researches were conducted to identify the fraud risk factors. The samples were selected from listed and non-listed companies in Bangkok. The attitude and behavior survey was carried out to collect the information from the participants. The information from those surveys was used to determine the potential fraud risk behaviors using data mining technique. The potential fraud risk behaviors were used to develop the fraud deterrence system. It is expected that the fraud deterrence system developed will deter corporate frauds in the firms resulting in the potential savings.