A city health inspector threatens to close down a restaurant by issuing a fake health violation notice if the owner does not make a financial payment to the inspector. If the restaurant owner does not cooperate, he will not be able to open for business and the publicity will drive away his customers permanently. Faced with a threat of economic loss, the owner makes the payment. What type of fraud is this, and what controls can be implemented to prevent or detect the fraud?

ECONOMIC EXTORTION.

CONTROLS

IMPLEMENTATION OF CHECK AND BALANCE SYSTEM.

DISCOURAGING CASH PAYMENT TO REGULATORY BODIES.

ENACT DISCIPLINARY ACTIONS ON OFFENDERS.

Explanation:ECONOMIC EXTORTION is a fraudulent activity which involves the use of Threat,force or other means to forcefully and wrongfully collect money and other resources from others in the Population especially those in business. It is usually carried out by Government agents and other Regulatory bodies etc.

It can be controlled by putting a check and balance system whereby a check on the activities of the regulators are done by a set of inspectors or monitors.

It can also be controlled by putting in place systems to prevent the payment of cash to Government officials and other Regulatory bodies etc.

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- love what you do.

- the worst thing that could happen might turn out to be the best thing that could happen.

- follow your heart and trust it knows where it's going.