Question

How should corporate abuse of power, fraud, and economic exploitation be punished? What are some ways in which it might be prevented, or detected more easily?

Answer 1

Step-by-step explanation:

Corporate abuse of power refers to deliberate actions by members of a legal entity to steal money, perform an illegal activity through the use of fraudulent techniques.

For example, a corporation might greatly hide its revenue so as to pay fewer taxes or they may even avoid paying taxes altogether. Corporate abuse of power, fraud, and economic exploitation should include longer prison time rather than simply a fine.

Here are some practical prevention methods;

Offer anonymous whistleblowing: this means anyone can report fraud without the fear of their identities revealed.

Monitor employees' behavior: By having a good knowledge of employees' working behavior illegal activities can be discovered, such as when they failed to show up to work without any valid reasons.

Reemphasize the punishment for offenders: by making repeated statements about the reward (punishment) for offenders.