By Martin Tunley (auth.)
This undertaking examines the idea that of fraud loss dimension by way of critiquing current dimension methodologies, and argues for the mandating of fraud loss dimension by means of enforced self rules, the construction of a British regular of fraud loss dimension, and the institution of a data alternate matrix to enhance top practice.
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Extra info for Mandating the Measurement of Fraud: Legislating against Loss
Obstacles to accurate measurement Levels of Fraud are extremely difficult to quantify. (National Fraud Strategic Authority, 2008, p. 1) The Fraud Review Team (2006, p. 23) identify two problems when measuring fraud, these being: having clear definitions of what constitutes fraud, having robust and transparent mechanisms for measuring fraud. Underreporting often results from a reluctance to accept fraud losses as a legitimate business cost and is considered a significant barrier to accurate fraud measurement (Foresight Crime Prevention Panel, 2006, p.
Unsurprisingly, the report has been criticized, Doig (2006) observing there was ‘no review of the methodology used’ (p. 44). Furthermore, Brand and Price (2000) suspect undercounting, noting that ‘the difficulty of detecting some frauds and the limited data collected ... led NERA to believe that even the higher figure (of £14 billion) is likely to be an underestimate’ (p. 47). Equally, Blunt and Hand (2007) observe that NERA offer little discussion concerning ‘uncertainty in measurement’ (p. 11).
White collar crime being defined as ‘crimes committed by persons of respectability and high social status in the course of their occupations’ (Sutherland and Cressey, 1960, p. 40). Sutherland (1940) concludes that this is because prosecution is frequently avoided due to the status of the parties involved, that the offences are often considered trivial, and on occasions it is difficult to gather sufficient evidence. , 2005). The dark figure of fraud may actually result from the fact that ‘many frauds are not seen by individual victims as crimes that warrant reporting to the authorities’, or alternatively, ‘the hassle, or culpable embarrassment of informing the authorities may outweigh the desire to report the scam’ (Sutton, 2007, p.