Another form of fraud involves creating fraudulent financial statements. This involves presenting a false statement to an entity. This kind of fraud is committed by the business owner or manager to hide their true financial position or to avoid an audit. It is more difficult to detect as technology improves and financial transactions increase. It is also much harder to identify the culprit if the victim does not have an adequate record. It is crucial to have a full understanding of all types of fraud to determine if you’ve been a victim of one.
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