Describe an interesting, IT related, fraudulent situation that you have either witnessed or have firsthand knowledge of in a work environment. This could be a place you, your spouse, your friends, or your parents have worked. You are not to describe a situation that you have read in the papers or heard on radio or T.V. You do not need to disclose the identity of the organization or the entity in which the situation occurred. However, it is important to identify the gender of the main perpetrator(s), the role s/he played in the case you describe and the location (State/Country) of the event or the situation.
For example, you may describe a situation as follows: ABC, a 50 million dollars company located in Madrid, Spain. The VP of Finance was responsible for approving all expenses over 10,000 pesos. However she delegated her authority to one of her associates.
Please limit your report to about 500 words report. After the description of the situation please provide your assessment of the following related issues:
Why did this situation happen?
What are the ethical issues relevant to the situation you are describing?
Were there any control procedures violated or ignored?
Why did the control factors (procedures) not work?
How would you prevent the occurrence of similar situations?
What would you estimate to be the financial and/or non-financial losses involved?