Can comprehensive background check assure the honesty of Corporate Heads?

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Can Comprehensive Background Check assure the
Honesty of Corporate Heads
?
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"The average size of frauds since 2009 is Rs 502
crores, an increase of almost 80 from the
average of the past 15 years which was Rs 381
crores," said the latest study report by Thought
Arbitrage Research Institute (TARI), in
partnership with UN Global Compact India.
15 years
381 Cr
502 Cr
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Corporate frauds in India have increased in the
last 15 years in terms of both size and scale of
the fraud. More than 50 of frauds are related to
defrauding lenders and to siphoning of funds by
the promoters or top management.
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The significant increase is due to a number of
high profile and large frauds detected in the
period of 2009-12. A significant motivator for
the promoters and management to commit fraud is
to bring about personal enrichment at the cost of
all other stakeholders.
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How do you think can the urge of top executives
to use fraudulent means for personal gains be
tackled?Can greater annual compensation or top
management background check do the trick?Can
honesty of corporate heads be assured by any
other measure, if not by higher compensation?
?
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