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Despite widespread coverage in the press, and government's and regulators' efforts to reduce fraud, economic crime continues to be a menace to businesses in Canada and around the world. Perpetrators of fraud invariably take great pains to conceal or remove evidence of their crimes. Surprisingly, accident or chance continues to play a significant role in the detection of fraud, with 39% of frauds detected by Canadian companies uncovered by chance and internal and external tip offs1. Clearly, reliance on luck is not a basis for an Anti-fraud Regime. Even when companies have controls in place to detect economic crime, these can often be rendered ineffective by management override or collusion.
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