5.5. For each of the following independent cases of employee fraud, recommend how to prevent similar problems in the future. a. Some customers found that the products of a prestigious brand sold at the retail shops in China are counterfeits. This explains why the customers prefer to buy the products in the European country of their origin, Hong Kong, or Macau. Investiga- tion revealed that the staff of the retail shops exchange the genuine products with fake ones. They sell the fake products to customers, and the genuine ones through personal channels. b. A computer programmer runs a special program to transfer the decimal points of 100,000 customer accounts of a bank to his account. For example, after running the program, the balance in a customer's account would change from $23,456.78 to $23,456. Every month, this programmer gained several thousands of dollars by pressing a button. c. In one remote area in Vietnam, a metal collection organization collects used rails and plates from providers like construction companies. An employee calibrated the pound, and reported lighter weight to the metal providers. She then sold the excess metal collected for personal profit.
5.5. For each of the following independent cases of employee fraud, recommend how to prevent similar problems in the future. a. Some customers found that the products of a prestigious brand sold at the retail shops in China are counterfeits. This explains why the customers prefer to buy the products in the European country of their origin, Hong Kong, or Macau. Investiga- tion revealed that the staff of the retail shops exchange the genuine products with fake ones. They sell the fake products to customers, and the genuine ones through personal channels. b. A computer programmer runs a special program to transfer the decimal points of 100,000 customer accounts of a bank to his account. For example, after running the program, the balance in a customer's account would change from $23,456.78 to $23,456. Every month, this programmer gained several thousands of dollars by pressing a button. c. In one remote area in Vietnam, a metal collection organization collects used rails and plates from providers like construction companies. An employee calibrated the pound, and reported lighter weight to the metal providers. She then sold the excess metal collected for personal profit.
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
Related questions
Question
Transcribed Image Text:5.5. For each of the following independent cases of employee fraud, recommend how to
prevent similar problems in the future.
a. Some customers found that the products of a prestigious brand sold at the retail
shops in China are counterfeits. This explains why the customers prefer to buy the
products in the European country of their origin, Hong Kong, or Macau. Investiga-
tion revealed that the staff of the retail shops exchange the genuine products with
fake ones. They sell the fake products to customers, and the genuine ones through
personal channels.
b. A computer programmer runs a special program to transfer the decimal points of
100,000 customer accounts of a bank to his account. For example, after running
the program, the balance in a customer's account would change from $23,456.78
to $23,456. Every month, this programmer gained several thousands of dollars by
pressing a button.
c. In one remote area in Vietnam, a metal collection organization collects used rails
and plates from providers like construction companies. An employee calibrated the
pound, and reported lighter weight to the metal providers. She then sold the excess
metal collected for personal profit.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 3 steps
Recommended textbooks for you
Understanding Business
Management
ISBN:
9781259929434
Author:
William Nickels
Publisher:
McGraw-Hill Education
Management (14th Edition)
Management
ISBN:
9780134527604
Author:
Stephen P. Robbins, Mary A. Coulter
Publisher:
PEARSON
Spreadsheet Modeling & Decision Analysis: A Pract…
Management
ISBN:
9781305947412
Author:
Cliff Ragsdale
Publisher:
Cengage Learning
Understanding Business
Management
ISBN:
9781259929434
Author:
William Nickels
Publisher:
McGraw-Hill Education
Management (14th Edition)
Management
ISBN:
9780134527604
Author:
Stephen P. Robbins, Mary A. Coulter
Publisher:
PEARSON
Spreadsheet Modeling & Decision Analysis: A Pract…
Management
ISBN:
9781305947412
Author:
Cliff Ragsdale
Publisher:
Cengage Learning
Management Information Systems: Managing The Digi…
Management
ISBN:
9780135191798
Author:
Kenneth C. Laudon, Jane P. Laudon
Publisher:
PEARSON
Business Essentials (12th Edition) (What's New in…
Management
ISBN:
9780134728391
Author:
Ronald J. Ebert, Ricky W. Griffin
Publisher:
PEARSON
Fundamentals of Management (10th Edition)
Management
ISBN:
9780134237473
Author:
Stephen P. Robbins, Mary A. Coulter, David A. De Cenzo
Publisher:
PEARSON