The government recaptured a record $4 billion last year from pharmaceutical companies, hospitals, doctors, nursing homes and other providers of care that defrauded federal health-care programs, the Obama administration reported.
While arson may be committed by business people, it should not be thought of as a white-collar crime. The reporting of a fire as accidental, when it is known to be arson is a crime. Just one very important point: “Washington law has long recognized the presumption that a fire is accidental, unless proven otherwise,” meaning that the insurance companies have a hill to climb to prove arson.
White collar crime now affects more Americans than all other forms of crime combined, according to a new report published by the the National White Collar Crime Center (NW3C).
According to ACFE research, organizations worldwide lose an average of 5 percent of their revenues each year to fraud. And criminals are using ever-increasing sophistication to pilfer their employers’ assets. Clearly, companies cannot afford to ignore indicators of fraud that may exist. With so much at stake, management must proactively look for fraud.