Essay on Fraud : Small Business Fraud
Fraud has become a major issue in the world in which we live today. Many would argue that fraud is quickly becoming a norm in today’s society. This abstract and false view on fraud has made its way into the business world and has created an idea that fraud is an acceptable and necessary part of living, specifically within small businesses. The unique aspect of small business fraud, is that the fraudster is possibly an employee within the company. To simply state that small business fraud is defined by one single variable would be a highly false claim, it is however, characterized by a melting pot of ever changing characteristics.
Small business fraud cases can include any form of business issues that involves abnormal or illegal situations involving the financial aspect of an entity. False statements are seen as red flags for fraudulent activity, and may be given by both entities involved or by one. There can be multiple ways that a small business fraud can be carried out. However, there usually is just one common denominator between them, this includes at least one party or entity that is dishonest (What Is Business Fraud?, 2016, para. 1). Similarly, one common aspect of small business fraud includes the fraudulent act of “transactions involving the purchase and sale of a business, real estate transactions, and many contractual disputes” (What Is Business Fraud?, 2016, para. 1).
It seems like every few years there are new laws being declared…