Phorensically Speaking

Corruption can take many forms, but its root causes often include a conflict of interest and possibly some type of collusion. In this episode, we’re illustrating these concepts and how they intertwine, and what you can do to proactively make sure your organization is secure. Where there is collusion, there may also be a conflict of interest While this type of fraud doesn’t necessarily involve a third party, it does involve the employee. In this case, they’re using their role as an employee, but acting outside their capacity to collude with another party for their personal benefit. Fraud generally involves an act of concealment, but frauds that include collusion usually occur off the books. There’s nothing to conceal as there is nothing on record. In this instance, the concealment is in not disclosing the potential conflicts of interest — which can present significant fraud risks. There are guidelines for this, like the ICC Guidelines on Conflicts of Interest in Enterprises, that recommend close monitoring