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LogoutCorporate fraud refers to unlawful acts carried out in a dishonest or unethical manner by an individual or a corporation. This type of commercial fraud is frequently intended to benefit the perpetrator individual or organization. Corporate fraud schemes are distinguished by their intricacy and economic impact on the firm, other workers, and third parties, and go beyond the limits of an employee’s declared job.
Corporate fraud is difficult to detect and much more difficult to avoid. A firm may restrict the scope of fraud by establishing effective rules, a system of checks and balances, and physical security. White-collar crime includes corporate fraud.