Not having good internal controls can severly damage your business.  Take a look at some newspaper clippings about an incident that happened recently at a convention centre in Burlington, Ontario.

******************************************************************************************************

The "Tone at the Top" is critical to prevent fraudulent acts against organizations.  When it is the executives who are allegedly the perpetrators, it is a double blow to the reputation of the organization. Read the article about Royal Group.

******************************************************************************************************

Now people are calling it "FaxGate". It's the story of personal information of CIBC customers allegedly having been faxed to companies having no business with the bank.  The Privacy Commissioner of Canada jumped on the issue and has made some stern statements about the bank's privacy program.  It seems as the investment community doesn't think it's such a big deal because the bank's stock price is still up there. Read the story.

*********************************************************************************************************

Fraud can occur to any organization at any time.  Most fraudulent acts are perpetrated by employees who understand the internal operations at their workplace and take advantage of internal control weaknesses.  Read the recent case that occured at the Kitchener-Waterloo Record newspaper.

© Lyndon Conrad 2008