When it comes to white-collar crime, popular opinion today is to view American corporations solely as perpetrators. However, this public ire ignores the documented reality that corporations and institutions are just as likely to be the victims of internal fraud and financial crimes, suffering direct losses in the hundreds of billions of dollars.[FOOTNOTE 1]
Rather than act as sitting ducks hoping to be unaffected, corporations and institutions must remain vigilant in their efforts to detect fraud and other criminal violations and respond immediately upon detection to mitigate the harm. This article will examine the importance of detection and why it is such a difficult task, as well as offer suggestions for best practices to go about detecting white collar crime.
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