It is a fact that many consumers today are afraid of being outsmarted by businesses that make their money on scams, but it is also a fact that many corporations have the same fear. The effects of fraud against businesses can be devastating, with companies ending up bankrupt, wound up and their employees being forced to leave. Those who have invested in the organization may loose all or part of their capital.

Organizations vary greatly in size, from small businesses to medium-sized corporations and multinational enterprises. Each of these may be a victim of crime, and if the crime is large enough it may lead the company to great losses.

Fraud in many companies; for instance at AT&T Canada Inc., is a problem that costs the company millions of dollars. It's up to management to control it.

mized in a wide variety of ways, and by a range of people. Most often their experience with crime will be economic, and acts of fraud and deception will be the principle types of crime from which they will suffer.

Another tool against fraud developed by MCI Communications Corp., is the anti-fraud system SHERIFF (Statistical Heuristic Engine to Reliably and Intelligently Fight Fraud). The system employs artificial intelligence to track suspect calls. With this kind of a system Canadian fraud management "is under control", claims Stan Malek, manager of fraud control at Stentor Canadian Network Management.

Not only has fraud affected business by actually committing crime against the corporation but many telemarketing companies find it hard to get consumers to believe their legitimacy only because other schemers have broke the consumer trust in telemarketing altogether. "For business-to-consumer outbound cold-calling, one really has to have his/her act together if s/he is going to succeed, because people are getting tired", said Andrew Wetzler, president of Andrew & Associates.

Today fraud costs millions of dollars to corporations, which are victims of scams. The size of these corporations does not make any difference anymore, large and small corporations are defrauded. It seems to make a lot of sense for the companies to take necessary precautions in order to prevent fraud. Spending money on new technology, training programs for employees, security systems and so on may be the only way for the business to outsmart the contrepreneurs in fraud.

Many individuals have been defrauded and now hold no interest for telemarketing opportunities. They simply hang up or refuse the offers and sometimes they may be just doing the right thing, because if even the multimillion-dollar corporations are having a hard time differentiating schemers from legitimates then how good can common people be at it?

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Approximate Word count = 2177
Approximate Pages = 9 (250 words per page double spaced)