Occupational Frauds Definition

Occupational frauds are understood to be an employee’s improper use or abuse connected with his position for her own enrichment by deliberate misappropriation or improper use of company property. This may incorporate fraud by an employee, manager or statutory agent. Usually an worker commits occupational frauds when four aspects exist: motive, signifies, opportunity, and justification. Motive, to an extent, should become obvious, but is seldom the accumulation of profit general. The most frequent types of occupational frauds include:Misappropriation of cash, Billing schemes, Misappropriation of company assets, Financial statement fraud etc.