If you work in accounts or other forms of finance, you can gain prestige by working for one of the Fortune 500 companies. In short: For many, it’s a dream job.
However, according to a recent study, working for one of these companies could make it more likely that your career, professional reputation and liberty are at risk.
Major companies are more likely to commit fraud
The study showed that Fortune 500 companies were more likely to participate in financial fraud than those who did not rank so highly. Companies trading on the New York Stock Exchange were twice as likely to commit fraud than those who did not.
The researchers believed that pressure was the main reason these companies were more likely to commit fraud. High-profile companies felt they should be achieving more. So when it was not happening, they used illegal methods to make it happen. Or at least appear as if it were happening.
While financial fraud can go unnoticed for a long time, a company cannot pretend it has money that it does not forever. When the fraud is exposed, there will be many angry people looking for someone to blame. Many may have lost considerable sums of money due to the deceit. They could include former employees, investors, other businesses the company traded with and the tax office.
If you’re concerned about your legal position, seek help
If your name is on the payroll as someone who dealt with the finances in any fashion, you could be subject to an intense investigation. Because large corporations have many layers of people working with their finances, you might not know anything about the crimes you are associated with. However, you will probably need legal help to persuade the investigators of your innocence. Working with an experienced white collar criminal defense attorney can help.