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The effects of errors varies by the severity of those errors and the nature of the context in which they are committed. Certain errors (for example, accidentally losing 10 ballots in an election decided by a 123,000 vote margin, or accidentally making a subtraction error in a homework assignment) have little-to-no real-world effect while other errors (for example, a computer programming error in a weapons system which causes a rocket to miss its military target but hit a civilian population instead) have grave and serious effects. The effect of fraud is generally that costs of goods and services are artificially raised to compensate for the monies lost due to the fraudulent activity. For example, if I sell my household furniture but then put in an insurance claim indicating that it was stolen, that's fraud on my part. If the insurance company pays the claim, then it needs to raise the insurance rates which it charges to compensate.
What else can I help you with?
Differences between fraud and error?
differences between errors and frauds
What is the effects of email tax virus?
If you do not detect it you may become a victim of fraud.
What are the ways to decrease fraud?
Depending on the size of the company and the ability to segregate tasks, strong internal controls are the best way to prevent fraud and errors.
What are the effects of fraud in the business?
Fraud results in a variety of losses - of money, of reputation - personal and corporate - of liberty - if you're convicted and jailed. In the worst cases, companies can fail, staff lose their jobs and pensions.
What are the possible reasons for the shortage after doing cash count?
THE SHORTAGE CAN BE EITHER DUE TO ERROR OR FRAUD.some of the errors which can cause shortage are;errors of omissionerrors of original entryerror of principleerror of commissionall these errors can be corrected but fraud is treated as THEFT!
Can banks reverse transactions?
Yes, banks have the ability to reverse transactions under certain circumstances, such as in cases of fraud or errors.
What impact does corruption and fraud have on an individual?
Corruption and fraud can have devastating effects on individuals, including financial loss, damage to reputation, and emotional distress. Victims may experience a loss of trust in institutions or people, leading to a sense of insecurity and vulnerability.
What is the goal of the security management?
To Minimize errors, fraud, and losses in the e-business systems that interconnect businesses with their customers, suppliers, and other stakeholders.
Insurance fraud is the worst type of fraud you can commit. ?
Insurance fraud is the worst type of fraud you can commit.
What are the effects of lies on personality?
The effects of lying are: guilt, condemnation which lead to depression and sometimes physical illness, or death. It also leads to the death of a culture when established as a culturally "approved of" habit. It is fraud and binds the mind from full development.
Having one person responsible for the related activities of ordering merchandise receiving goods and paying for them as a internal control?
increases the potential for errors and fraud
What has the author Alexander Kohn written?
Alexander Kohn has written: 'False prophets' -- subject(s): Fraud in science, Impostors and imposture, Scientific Errors
