Occupational Crime

Precisely — The use of one’s occupation for personal enrichment through the deliberate misuse or misapplication of the employing organization’s resources or assets is called occupational crime.

Fraud against a company can be committed either internally by employees, managers, officers, or owners of the company, or externally by customers, vendors, and other parties. Other schemes defraud individuals, rather than organizations.
All instances of occupational fraud and abuse can be classified into one of three major categories:

  • Asset Misappropriations: “any scheme that involves the theft or misuse of an organization’s assets”
  • Corruption: “any scheme in which a person uses his or her influence in a business transaction to obtain an unauthorized benefit contrary to that person’s duty to his or her employer”
  • Fraudulent Financial Reporting: “falsification of an organization’s financial statements to make it appear more or less profitable.”

A-Z of Occupational Fraud

To help understand which fraud you’ve been affected by, we’ve categorised them into an alphabetical list.