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Putting the lid on fraud in companies

The three key solutions are proper controls, a system of surveillance and good management to lead the way.

Senior managers account for a significant proportion of expense reimbursement fraud cases, cheating by being in a position to circumvent rules and cover their tracks.

IN AUGUST, two senior executives of local shipbuilder ST Marine made the headlines for cheating on entertainment expense claims. They claimed more than S$5 million over 10 years to fund bribes paid to customers. A third colleague is on trial for another S$1.6 million worth of bogus claims....

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