A New Approach to Combating White-collar Crime INTRODUCTION Due to the magnitude of white-collar crime in this country (R3,6 billion losses annually) and globally, companies can no longer ignore this growing problem. Apart from the huge financial implications, white-collar crime also has other detrimental effects on companies including loss of reputation, the undermining of competitiveness and the erosion of credibility. Traditionally, companies followed an ex post facto approach to fraud - damage control was attempted …
showed first 75 words of 597 total

showed last 75 words of 597 total
…a pro-active approach against potential perpetrators of fraud is the most economically sound answer. Such an approach includes the timely training of company managers and employees in fraud prevention which should form part of the total managerial approach. Not only does a preventative approach save money, but it also saves face - the good reputation of an organisation is becoming of paramount importance in our changing corporate environment and should not be underestimated. ------------------------------------------------------------------------ **Bibliography**