Fraud Reflection

Xavier Hernandez

Salt Lake Community College

 Fraud

Money is what people need in order to not struggle in this world. We need it to buy food,

clothing, and pay off our expenses like rent and utility bills. Now we also need money to buy

accessories, electronic gadgets and many other personal uses. When you start having financial

issues or don’t have much money, it does affect you. Especially when you have a family, it is a

real issue, we’ve seen people gain and lose when it comes to money. When it comes to gain and

lost I think of fraud. Fraud is a very serious crime that does occur in either small or large

business. Fraud is defined as “wrongful or criminal deception intended to result in financial or

personal gain.” We’ve all heard the stories and saw on news about recent fraudulent activities.

In the second video, it's understandable for the reasons they took money but it’s still wrong. He

was taking money in order to support his family. Once you do it the first time, you start doing it

more because you believe you won’t get caught. What people don’t realize is that they record or

do financial reporting. They record transaction and activities making sure everything is right.

They have the amount of money that should be in account, and if some of that amount is missing

then that's when they investigate. We also have people do fraud for their own gain. They want

more money than they have even if they aren’t struggling.

Fraud will have an impact on your organization depending on the amount of money that was

taken. Some organizations can resolve and others can go down. Yes, we all need money but

make sure you check your expenses and see where you can save. There are other ways that you

can get money legal without affecting your job or your life.