LessonsLearnedfromFraudCases.pptVIP

November 17, 2007 Lessons Learned From Fraud Cases PricewaterhouseCoopers Global Economic Crime Survey, 2007 Turkey Report Larger frauds: $3.9 million average Turkish fraudsters: 31 to 40 year old males, high school educated, less than 5 years on job Only 21% of 105 companies brought criminal charges. SmarTalk TeleServices Fraud 2003: PwC agreed to pay SEC $1 million for improper professional conduct Approved $25 million restructuring reserve to reduce expenses Revised, corrected, or discarded audit work papers KPMG Typical fraudster: long-time employee, top management, acting alone, many f