Tuesday, July 4, 2006

A Corporate Compliance Program At Work

According to the St Pete Times here, a former controller at Jabil Circuit Inc. plead guilty to  six counts of wire fraud.  What is particularly interesting is that the newspaper says the alleged fraud was detected through an "internal fraud hotline" in the company. More and more companies are instituting internal compliance programs to protect the company from fraud.  Having a way for subordinate employees to bring fraud to the attention of higher-ups, without suffering internal consequences, is an important component of a successful compliance program.

(esp) 

http://lawprofessors.typepad.com/whitecollarcrime_blog/2006/07/corporate_compl.html

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