Fraud Detection and Prevention
Bernard J. Scaglione, Anthony J Luizzo · Productivity Press eBooks · 2022
Shoplifting, check and credit card fraud and employee theft plague merchants of all sizes, form the retail giants in Midtown to the corner grocery store. The foundation of any successful theft prevention program is education. Most shoplifters are amateurs. According to the Small Business Administration, half of all shop-lifters are minors, many of whom steal for “kicks” or because of peer pressure. Bad checks and fraudulent use of credit cards can seriously hurt any merchant’s business. High-volume seasons sometimes require hiring additional security personnel or an outside security company. To identify and deal with the perpetrator of a fraud, the skills of both auditing and criminology professionals are frequently called for. Traditionally the corporate fraud problem has been addressed as an accounting exercise.