By PAUL O’DONOGHUE, Senior Correspondent
U.S. President Donald Trump has signed a new executive order aimed at strengthening efforts to combat cybercrime, including fraud and extortion.
The measure targets transnational criminal groups that exploit US businesses, families and infrastructure.
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This category refers to crimes committed by employees or insiders against their own organizations. It is often the most damaging because the perpetrator has authorized access to systems.
- Asset Misappropriation: The most common form, involving the theft of company resources. This ranges from simple “skimming” (taking cash before it’s recorded) to complex schemes involving the theft of inventory or intellectual property.
- Payroll Fraud: Employees may create “ghost employees” on the system, falsify their own timesheets to claim unworked overtime, or divert salary payments to their own accounts.
- Financial Statement Fraud: Management deliberately misrepresents the company’s financial health by inflating revenue or hiding liabilities to attract investors or meet performance bonuses.