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Financial Consultancy FinFive Warns Fraud Can Make Your Recession Tougher
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Financial Consultancy FinFive Warns Fraud Can Make Your Recession Tougher
The current economic downturn means that companies are already struggling with
slower growth, lower sales and often deteriorating cashflow; the last thing they...
[Plus]
Financial Consultancy FinFive Warns Fraud Can Make Your Recession Tougher
The current economic downturn means that companies are already struggling with
slower growth, lower sales and often deteriorating cashflow; the last thing they
need is an increase in fraud.
Blackheath, RSA, May 15, 2009 -- The current economic downturn means that companies
are already struggling with slower growth, lower sales and often deteriorating
cashflow; the last thing they need is an increase in fraud.
But, according to financial consultancy FinFive that is exactly what is likely to
happen, especially if retrenchments are not handled properly.
If you think white-collar crime won?t happen to you, or it is not that common ? you
are wrong.
In 2005, the national bargaining council announced that c ompanies doing business
in South Africa are twice as likely to be defrauded as their counterparts in the
rest of the world; that 83% of South African companies reported some form of white
collar crime.
Since the
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