{"id":424,"date":"2019-04-25T14:51:52","date_gmt":"2019-04-25T06:51:52","guid":{"rendered":"http:\/\/scp-ph.com\/blogsite\/?p=424"},"modified":"2019-04-25T14:51:54","modified_gmt":"2019-04-25T06:51:54","slug":"preventing-fraud-and-the-seriousness-of-facing-fraud-and-theft-charges-in-the-philippines","status":"publish","type":"post","link":"https:\/\/scp-ph.com\/blogsite\/?p=424","title":{"rendered":"Preventing Fraud and the Seriousness of Facing Fraud and Theft Charges in the Philippines"},"content":{"rendered":"\n<figure class=\"wp-block-image is-resized\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/scp-ph.com\/blogsite\/wp-content\/uploads\/2019\/04\/Fraud-Free-1.jpg\" alt=\"\" class=\"wp-image-428\" width=\"585\" height=\"328\"\/><\/figure>\n\n\n\n<p>Fraud is one of the\nmain causes of disputes. It can be committed through many platforms including\nmail, wire or the internet. Fraud is the intentional deception to secure unfair\nor unlawful gain, or to deprive a victim of a legal right. <\/p>\n\n\n\n<p>Businessowners may have\nasked this question: Could Fraud ever happen in my organization? No matter how\nsmall the organization, fraud could still happen. Fraud can violate civil law,\nor it may cause no loss of money, property or legal right but still be an\nelement of another civil or criminal wrong. <\/p>\n\n\n\n<p>Internal controls\nshould always be in place. It is important for a business to implement an\neffective internal control system. How do we prevent fraud in our businesses or\norganizations? We have listed some considerations below: <\/p>\n\n\n\n<ol><li>Multiple layers of approvals and\nsignatures<\/li><li>Require backup information<\/li><li>Never pre-sign checks<\/li><li>Segregation of duties<\/li><li>(one individual should not be responsible\nfor an entire financial transaction)<\/li><li>Conduct backgroiund checks<\/li><li>Fixes Asset Inventories<\/li><li>Encourage whistleblowers<\/li><li>Automated Controls<\/li><li>Educate\nemployees using discussion of fraud risks and itnernal controls<\/li><\/ol>\n\n\n\n<p>Commiting fraud could\nlead you to face serious charges. Many people go to jail for fraud. In the\nPhilippines, any person who shall defraud another by any of the means mentioned\nherein below shall be punished by:<\/p>\n\n\n\n<ul><li>The penalty of prison correccional in its\nmaximum period to prison mayor in its minimum period, if the amount of the\nfraud is over 12, 000 pesos but does not exceed 22, 000 pesos and if such\namount exceeds the latter sum, the penalty provided in this<br>\nparagraph shall be imposed in its maximum period, adding one year<br>\nfor each additional 10,000 pesos; but the total penalty which may<br>\nbe imposed shall not exceed twenty years. In such cases, and in<br>\nconnection with the accessory penalties which may be imposed under<br>\nthe provisions of this Code, the penalty shall be termed prision<br>\nmayor or reclusion temporal, as the case may be.<\/li><li>The penalty of prision correccional in its\nminimum and medium periods, if the amount of the fraud is over 6,000 pesos but\ndoes not exceed 12,000 pesos<\/li><li>The penalty of arresto mayor in its\nmaximum period to prision<br>\ncorreccional in its minimum period if such amount is over 200 pesos<br>\nbut does not exceed 6,000 pesos<\/li><\/ul>\n\n\n\n<p>Source: <a href=\"http:\/\/www.chanrobles.com\/presidentialdecrees\/presidentialdecreeno818.html#.XMFSQDAzbcc\">http:\/\/www.chanrobles.com\/presidentialdecrees\/presidentialdecreeno818.html#.XMFSQDAzbcc<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Fraud is one of the main causes of disputes. It can be committed through many platforms including mail, wire or the internet. Fraud is the intentional deception to secure unfair &#8230;<\/p>\n","protected":false},"author":7,"featured_media":425,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0},"categories":[3],"tags":[],"_links":{"self":[{"href":"https:\/\/scp-ph.com\/blogsite\/index.php?rest_route=\/wp\/v2\/posts\/424"}],"collection":[{"href":"https:\/\/scp-ph.com\/blogsite\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/scp-ph.com\/blogsite\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/scp-ph.com\/blogsite\/index.php?rest_route=\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/scp-ph.com\/blogsite\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=424"}],"version-history":[{"count":2,"href":"https:\/\/scp-ph.com\/blogsite\/index.php?rest_route=\/wp\/v2\/posts\/424\/revisions"}],"predecessor-version":[{"id":429,"href":"https:\/\/scp-ph.com\/blogsite\/index.php?rest_route=\/wp\/v2\/posts\/424\/revisions\/429"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/scp-ph.com\/blogsite\/index.php?rest_route=\/wp\/v2\/media\/425"}],"wp:attachment":[{"href":"https:\/\/scp-ph.com\/blogsite\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=424"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/scp-ph.com\/blogsite\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=424"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/scp-ph.com\/blogsite\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=424"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}