Briefly Describe the Three Factors That Increase the Probability of Fraud

question 43

Essay

Briefly describe the three factors that increase the probability of fraud.

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Definitions:

Buyer Power

The influence that consumers have on the pricing and availability of goods and services in a market.

Loyalty Programs

Marketing strategies designed by businesses to encourage repeat customers by offering rewards, discounts, or other incentives.

Globalization

The process by which businesses or other organizations develop international influence or start operating on an international scale, often associated with cultural and economic integration.

Competitive Forces

Elements in the external environment that influence an organization's competitive position, including competition, customer power, supplier power, the threat of new entrants, and the threat of substitute products or services.