Is greed a perceived pressure? 

According to the fraud triangle, pressure is what drives one to commit fraud. Fraud
can include various things, including high medical bills, addiction, and expensive tastes. Greed
is one of the leading causes of fraud. Greed is an intense and selfish desire to be wealthy. It is
sometimes the uncontrolled longing for the acquisition of material property. Evidently, the
longing for one to acquire material things is a perceived pressure. Greed drives one to commit
fraudulent activities, and this makes it to be a perceived pressure.
Is the Fraud Triangle still appropriate in 2016, or should we now look at the Fraud
Diamond in identifying the elements of a Fraud?
The Fraud Triangle includes three elements, namely perceived pressure, perceived
opportunity, and rationalization. On the other hand, the fraud diamond includes elements such as
incentive, opportunity, rationalization, and capability. The Fraud Diamond gives a more
advanced way of looking at fraud, and this means that we should now look at the Fraud Diamond
when analyzing the elements of fraud. The fraud triangle has stood the test of time and still gives
valid insights into why fraud occurs. The Fraud Diamond builds on the Fraud Triangle to offer
additional insights that are relevant and applicable to the current world. Examination of
fraudulent executives using the Fraud Diamond can help generate more insights. Frauds occur
because an opportunity is presented to the right people with the right capabilities. It is
possible to ensure that fraudulent activities do not occur if loopholes and opportunities for
fraudulent activities can be sealed. In addition, fraud cannot be carried out by people who lack

FRAUD ACCOUNTING WEEK 1 3
the right abilities. To this end, the Fraud Diamond is more relevant in the modern context even
though the Fraud Triangle is still valid.