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You'd have guessed it correctly as the survey revealed a resounding YES as answer to a question of whether respondent believe that there would be an uptrend of fraud and corruption risk during economic downturn.
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And why do you think it should so happen?
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Three prime reasons:
- Financial: financial pressure is heightened with expectations for continued growth or achieving targets. As wages stay static and the cost of living increases, employees feel the heat on their personal finances.
- Opportunity: due to cost cutting there could be to lack of resources and poor assignment of duties, which would eventually weaken the internal controls'; an opportunity for some to venture into corruption.
- Rationalise it: Opss! That means people - both employers and employees - are coming to term with accepting fraudulence and corruptions? What's happening to our conscience? The employee says "I've got nothing to lose" and Employer says "We've got to do what we've got to to to win business." Hence, the rationalisation of such act/behaviour. OMG!
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Have we been able to comprehend those responsible, I would not be able to guarantee that some incensed people wouldn't take the Law in their own hands.
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What a bad week for us. Now should we blessed the culprits or should we curse them? For now, I can't see myself bend on the former, more inclined to the later, so lemme take a deep breath and compose myself before i utter something I might regret later.
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Frightful and shocking weekend!!
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