"back office" fraud in view of the increase after the tip recession

ORLANDO, Florida  - "back office" fraud is draining corporate treasures of billions of dollars per year, and the risk is growing businesses and employees of struggle following the recession, finance managers, and experts say.

The fraudulent schemes in the ministries of finance company include the creation of false sellers, billings for goods, non-existent checks written to dummy corporations and kickbacks from vendors.

"Most companies are weak in the area of the back office and vendor fraud and is a major threat for them", Michele Edwards, an expert in fraud, said Reuters this week in the margin of a corporate finance professionals Conference.

In General, it takes 18 months to detect fraud, said Edwards.

In an informal survey of managers of the 622 finance during the May 8-12 Conference Orlando, 72% reported having seen an increase in cases of fraud of back-office, Tom Bohn, President of the Institute of financial transactions, said Friday.

The Institute, which brings together several associations across corporate finance professionals in the world, was launched this week in the Conference of Orlando.

Bohn and Edwards, said some of the increase in reported loss could be the result of increased attention of companies and the detection of the, return of fraud on the Office over the past two years.

That focus has come in response to federal regulators U.S. taking a tougher line against companies that were not enough to prevent fraud which caused losses of the shareholder.

SQUEEZE ON PERSONAL FINANCE

But Edwards and Bohn said the recent recession has increased the risk of fraud.

Company cutbacks had led to some employees, becoming solely responsible for what had previously been two separate functions, and there had been a reduction in internal controls and balances and controls Agency.

The tightening of the recession on personal finances and family life of the employees is also a factor, said Edwards.

"They get a rise." They get a game that (retirement plan). Those are just additional pressures that have been in the past two years which may have their caused to do something unfortunate like fraud, many people - where they could not be in a normal environment - "says Edwards.

She said that the end of the recession will not solve the problem.

"You have these expectations of shareholders and CEO, hey, we are from the recession." It's back to business. It is to return to the mode of growth. That pressure is not really go far, "said Edwards.

Companies are beginning to employ safeguards such as software, analysis and fraud prevention specialists tools to detect problems. They begin to discover and to close the potential for fraud and build a corporate culture that discourages it.

"If focus you on the culture, you can reduce the risk from the first day," said Bohn. "The more money you can save to leave the company, the better your profitability will be.".