Corporate Fraud And Scams - The Trillion Dollar Black Hole Most people concede that the relentless march of technology is largely beneficial but one of the obvious downsides is that companies and individuals are much more exposed to increasingly sophisticated scams and fraudulent activity. We are all aware of the daily threat to our personal finances from identity theft and abduction of bank details etc. but the impact of dishonest activity on the corporate sector is even more hair-raising.The US's Association of Certified Fraud Examiners' report for 2008 underlined the sheer scale of the problem by estimating fraud related losses incurred by North American businesses at an incredible $ 994 billion per annum. This equates to about 7 % of total annual revenues and, assuming a similar ratio in other continents, the overall likely losses by the global business community are simply frightening.Sadly, a very large portion of all this corporate fraud involves dishonest employees using such devices as false invoices, stolen assets and cheque tampering. Another obvious problem is that senior employees can wreak fifteen times more financial havoc than lower paid employees.It is not surprising therefore that countering corporate scams and sophisticated frauds are increasingly popular topics at company conventions. In fact, one of the World's leading conference organisers, Marcus Evans, now regularly hold international events which are exclusively devoted to the subject.Not only do they cover a wide range of data protection issues,Nike Free Run, they also go into the fine detail of a host of fascinating and inspirational cutting edge models, processes, procedures,Cheap Nike Free Run, research and wisdom. There's input from key players in scam prevention like the US Department of Homeland Security, Barclay's Wealth and ABN AMRO. Delegates discover vital information about how to comply from continent to continent across markets as diverse as Pakistan, Argentina and the Pacific. As the company's spokesman, Daniel Leu emphasises, “It doesn't matter how large or small your business is, the risks are the same for everyone. The only way to keep fraudsters at bay is to get on top of the situation. Then stay on top of it. Getting a grip on things early on is much better than getting stung and having to pick up the pieces.”Companies House recently estimated that corporate ID theft alone could be costing British business as much as £50m per annum,Cheap Nike Free Run 3 Australia, and the Metropolitan Police believes the true figure could be much higher, with an average loss to victims of corporate identity theft of £2m for each case. This issue must, therefore, go higher up the agenda for companies and organisations, as quickly as possible.