A whistle-blower at a large US manufacturer revealed that an employee in the procurement department had colluded with a vendor to bill the company for security services that were never rendered. Whilst the company had controls in place, an investigation revealed several large invoices had been billed for security at events that the company had no record of ever occurring. The vendor admitted In an interview that some of the Invoices were fictitious. The fraudulent scheme had cost the company h...
BPIR Categories2.5.4 Identify and manage risks
11.1.5 Manage financial risk
11.2.1 Process accounts payable