Jail for ex-NTUC Club assistant sales manager who cheated his employer of S$45,000
Corporate frauds and sometimes criminal breach of trust misconducts are prevalent even in Singapore even though the scale is still tipped compared to some other countries. Most of the time when such activities are apprehended, it leads to very grave consequences to be suffered by the company for the acts committed by its employees.
This can be done in various forms such as ad hoc crimes, bribery, embezzlement, counterfeiting, forgery, tax evasion, professional crime, fraud, etc.
Studies suggest only 1/3 of committed frauds come to light and robust policies, detection measures & constant reviews of risk management should be of paramount importance to organizations.