Research suggests a principal cause of fraud to be a weak, limited internal control system.An internal control system aims to (1) comply with legal, technical and administrative order; (2) promote an entity’s efficiency and effectiveness; (3) guarantee information reliability and timeliness; and...
Corruption and money laundering demoralize human development, international security and national economies. According to the World Bank and International Monetary Fund (IMF), corruption is the greatest hurdle to lifting millions of people from destitution. Money laundering invigorates corruption, as it does all profit-driven delinquencies. Corruption and money laundering are mutualistic...
Corruption and financial fraud are very challenging issues within the banking system that can inflict irreparable harm to a nation’s development and growth. The potential widespread and destructive effects can reduce social capital and increase poverty, social injustice and class divisions. The banking system will continue to face these issues far into the future until successful counteraction initiatives are implemented...
In September 2015, nearly all United Nations (UN) member countries committed to the 17 Sustainable Development Goals (SDGs)—global goals created to steer policy making and development funding until 2030. Each goal is comprised of targets, and each target is further refined through one or two indicators designed to measure progress. Though global targets and indicators have been established for each goal...