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The implications of fraud committed against enterprises in the Netherlands : vulnerabilities, damages, consequences and prevention

Schlömer, M. (2018) The implications of fraud committed against enterprises in the Netherlands : vulnerabilities, damages, consequences and prevention.

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Abstract:This research sheds light on fraud targeted against companies. It discusses the differences amongst acquisition fraud, CEO fraud and ghost invoices with regards to fraud and company characteristics and to what extent these characteristics have an effect on financial damage and fraud successfulness. Of each type of fraud, one-hundred fraud notifications are gathered which are supplemented by data from Statistics Netherlands. The results show many differences between the three types of fraud. Acquisition fraud is mostly attempted in winter and against self-employed and micro companies. Ghost invoices are mostly attempted in spring and against micro and small sized companies. CEO fraud is mostly attempted in summer and against small and medium sized companies. In addition, companies that are targets of CEO fraud have the highest risk with regards to financial damage, followed by acquisition fraud and ghost invoices. Results suggest that the more effort fraudsters put in, the higher the amounts asked and received when successful. Whereas most attempts are directed towards the tertiary sector, the chance of success is higher in the primary and secondary sector making the sector rather vulnerable. With these insights, and knowing the modus operandi of fraudsters, companies can focus more on their vulnerabilities.
Item Type:Essay (Master)
Faculty:BMS: Behavioural, Management and Social Sciences
Subject:85 business administration, organizational science
Programme:Business Administration MSc (60644)
Link to this item:https://purl.utwente.nl/essays/74936
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