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Taking A Closer Look At Crooked Corporations

1796 words - 8 pages

In the work place today records show a study of unethical behaviors taking place in the area of professional organizations. This has been a growing problem among a different variety of businesses and corporations. The problem with these issues being brought to the public is that it brings a negative outlook on the company as a whole. The words “crook” and “fraud” have been slanted towards some of our countries fortune five hundred companies and most respected business partners in the market. There are many reasons as to why these fraudulent acts are now relevant to the Medias eye, but none of them are helping these businesses reputation of leadership within corporations. Issues such as Improper handling of funds /theft, mistreatment of employees both socially and verbally and bullying are most popular among topics.
IT Fraud (computers), Identity Fraud, Manipulation of Accounts, and Petty Fraud (harmless but relevant) are the categories of fraud. Forty eight percent, which is almost half of the companies surveyed in a recent survey by PricewaterhouseCoopers reported being victims of fraudulent acts. The average cost for this is one point seven billion dollars in mishandled funds. This is the number one issue today in the work place. New York Times, Washington post, USA today, and Los Angeles times are some of the main attractions to these unlawful acts. When some of the most world renowned newspaper companies send these articles viral it hits companies and individual incredibly hard.
New York daily news states that State Attorney Eric Scheiderman's opened a forty million dollar fraud case against multi-billionaire Donald Trump’s Trump University. Schneiderman’s lawsuit states that Trump University victimized as many as five thousand people with a classic “bait and switch” scheme that encouraged them to pay as much as thirty five thousand dollars for seminars that were largely useless. In reaction to these accusations against him Donald Trump made a public statement calling New York Attorney General Eric Schneiderman "just terrible" for suing him over shuttered Trump University. Cases like this are a prime example as to why integrity is a vital need in every business operation no matter which level or rank being referred to. Cases like this are discovered every day, but those who are well-known in the business world have to work persistently to keep their image positive because a bad name will eventually affect business affairs. Incidents such as this are increasing and it all brings pressure on the leaders of corporate America to make sure that they are placing men and women of substance in positions of leadership as well as themselves.
Another major issue is theft. Many small and privately owned businesses have owners who have the power to take money from accounts that he/she should not withdraw money from. Theft is a re-occ issue within a variety of businesses. Colleges, privately owned business, and franchises such as McDonald’s, and...

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