Greed is the excessive desire for more than is needed or deserved — not for the greater good but for one’s selfish interest, and at the detriment of others and society at large.

Bad actors with the intention of committing fraud to one’s selfish interest will design an elaborated scheme to have full opacity within the organization.

In private companies, full internal controls are very often not in place which might be due to the nature of the industry where the company needs to be nimble.

This gives rise to opportunities for bad actors to plot fraudulent schemes at the expense of the company.

As actions are not verified, third parties and information are not readily available due to the nature of the system, where only decision makers hold all the information.

This creates an obvious point of failure, with severe information gaps between employees of an organization, resulting in the lack of transparency, therefore, allowing fraudulent activities occurring.