What are the common types of business fraud?
An example of an AI chatbot conversation about common types of business fraud.
What are the common types of business fraud?
Common types of business fraud include embezzlement, financial statement fraud, and identity theft.
Can you explain embezzlement?
Embezzlement is when someone in a position of trust misappropriates funds for personal use.
What about financial statement fraud?
Financial statement fraud involves intentionally misrepresenting financial information to deceive stakeholders.
How can businesses protect themselves from these frauds?
Businesses can implement strong internal controls, conduct regular audits, and provide employee training on fraud awareness.
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