Activities undertaken by an individual or company that are done in a dishonest or illegal manner, and are designed to give an advantage to the perpetrating individual or company. Corporate fraud schemes go beyond the scope of an employee's stated position, and are marked by their complexity and economic impact on the business, other employees and outside parties.
Corporate fraud can be difficult to prevent and to catch. By creating effective policies, a system of checks and balances and physical security, a company may limit the extent to which fraud can take place. It is considered a white collar crime.
Investment dictionary. Academic. 2012.
Look at other dictionaries:
Corporate Fraud Task Force — The Corporate Fraud Task Force was a United States Federal Government wide task force formed by President George W. Bush in the wake of corporate accounting scandals that shook investor confidence. Task Force establishment occurred through… … Wikipedia
fraud — [frɔːd ǁ frɒːd] noun [countable, uncountable] LAW a method of illegally getting money from a person or organization, often using clever and complicated methods: • Should audits be expected to detect every fraud? • He had a criminal conviction for … Financial and business terms
Corporate crime — Criminology and penology Theories Causes and correlates of crime Anomie Differential association theory Deviance … Wikipedia
Corporate law — (also company or corporations law) is the study of how shareholders, directors, employees, creditors, and other stakeholders such as consumers, the community and the environment interact with one another under the internal rules of the firm.… … Wikipedia
Fraud deterrence — has gained public recognition and spotlight since the 2002 inception of the Sarbanes Oxley Act. Of the many reforms enacted through Sarbanes Oxley, one major goal was to regain public confidence in the reliability of financial markets in the wake … Wikipedia
Corporate manslaughter (England and Wales) — Corporate manslaughter is a criminal offence in English law, being an act of homicide committed by a company or organisation. In general, in English criminal law, a juristic person is in the same position as a natural person, and may be convicted … Wikipedia
Corporate Security — identifies and effectively mitigates or manages, at an early stage, any developments that may threaten the resilience and continued survival of a corporation. It is a well organized corporate function that oversees and manages the close… … Wikipedia
Corporate security — identifies and effectively mitigates or manages, at an early stage, any developments that may threaten the resilience and continued survival of a corporation. It is a corporate function that oversees and manages the close coordination of all… … Wikipedia
Corporate media — Corporate board interlocks between various U.S. corporations/institutions, and four of the major media/telecom corporations (circled in red), in 2004. Corporate media is a term which refers to a system of mass media production, distribution,… … Wikipedia
Corporate liability — In criminal law, corporate liability determines the extent to which a corporation as a legal person can be liable for the acts and omissions of the natural persons it employs. It is sometimes regarded as an aspect of criminal vicarious liability … Wikipedia