Word: recessional
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One of the reasons for this trend is that middle management, often a company's eyes and ears for detecting illicit activity, regularly bears the brunt of redundancies during a slowdown. "When that layer's removed, you've eroded your internal processes which are there to control fraud or misconduct...
But there's another reason for the surge in cases of deceit. Far from simply fueling fraud, there's nothing like a nasty bout of recession to flush swindlers out. By digging into their own operations amid the financial squeeze, firms are unearthing historical deception. In 2008, U.K. courts tried...
And as the recession tightens, employees nervous about their own positions have found themselves blowing the whistle on others. Helping drive up fraud-related calls to the Network, "employees are saying, 'Hey, I'm not going to look the other way', because if my company can't make its earnings...
Lee's complaint of overwork sounds dissonant during a global recession, but it is precisely because of the plunge in global trade that Lee, who works for a ship-supply company, is clocking up so much overtime. The World Trade Organization predicts the volume of global trade will shrink by...
Indeed, the maritime parking lot seems to have been good for business at Con-Lash. "We're getting orders more easily," Tony Ng, its owner, says. He estimates that he's supplying nearly 50% more ships on an average week than he did this time last year. "We've been...