FRAUD is rife in the corporate world, usually committed by the company's own staff, and often by long-serving, trusted employees who have been given too much freedom, according to a book published yesterday.

Written by Mr Anthony Spollen, the former head of group internal audit at Allied Irish Banks, "Corporate Fraud" contends that dishonesty has become easier because of the rapid pace of technological change. Many senior executives do not understand technology, non-core business activities or treasury functions, the book continues.

"Organisations which are most at risk," says Mr Spollen, "include those that have a domineering chief executive; are reducing staff; are introducing new technology; are diversifying; have a complex Treasury function; have a number of overseas locations; are growing at a very rapid pace or are setting too demanding targets."