Importance of Effective Regulation • Cash intensive environment intensifies temptation to steal • A cash intensive environment without good internal controls significantly increases the likelihood of theft and fraud • Increasing the probability of discovery decreases the probability that theft or fraud will succeed
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Ensuring thatTribes are the Primary Beneficiaries of Gaming Revenues
THE FACTS: } Fraud and Abuse Cost American Business More than $400 Billion Annually. } Approximately 6% of the Annual Revenues of an Average American business will be lost to Fraud, Theft, and/or Abuse. } Nearly 60% of the Total Loss is Attributable the Absence of Good Internal Control Systems. } Nearly 50% of all Incidents Involve Cash
Source: Study on Fraud, Association of Certified Fraud Examiners
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Homer Law, Chtd. 2006
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