Fraud Lurks: So you need internal controls – MUST READ
This is the fourth installment of our “Fraud Lurks” series. In the initial article, I pointed out an all too common fraud technique using information found on any corporate check. […]
Category: Fraud
Cash Talks — and Fraud Experts are Listening
Fraud perpetrators take whatever they can get their hands on. But they generally prefer cash because it’s virtually untraceable. Fortunately, fraud experts have the expertise and tools to trace even […]
Keeping your loyalty program safe from fraud
To generate revenue and foster customer loyalty, many businesses, including retailers, airlines, and credit card companies, create loyalty and reward programs. Such programs can help companies attract and retain customers, […]
How to defend your auto dealership from fraud
Although auto sales plunged at the start of the COVID-19 pandemic, they’ve since rebounded. In fact, some auto dealerships are reporting record sales in 2021. Problems remain — including supply […]
How to Fend Off “Friendly” Fraud
Fraudulent behavior isn’t necessarily perpetuated by people hiding their identities. For example, legitimate customers sometimes use the credit card chargeback process to their advantage — and to the disadvantage of […]
Avoid buying unreliable — or fraudulent — insurance coverage
Bad faith denials of claims by insurers are illegal, but some dishonest companies or agents attempt them anyway. It’s possible that just when you have the greatest need, you’ll find […]
Fraud Lurks: In Your Employees Part 2
Last month’s Fraud Lurks article featured employee fraud/embezzlement – part one. The article referenced the Association of Certified Fraud Examiners (ACFE) report on the costs and effects of occupational fraud. […]
Assess your supply chain’s fraud risk
The COVID-19 pandemic has put enormous pressure on global supply chains. As companies struggle to obtain the goods and materials they need, they may not pay as much attention to […]
Something’s Wrong in Your Office. Is it Fraud?
Not all red flags lead to active occupational fraud schemes. But when fraud is occurring, it usually leaves traces — for example, accounting anomalies — for fraud experts and other […]
How to keep fraud out of your law firm
As counterintuitive as it may seem, law firms aren’t immune to criminal activity. Because some firms place enormous pressure on attorneys to produce billable work, they may be particularly vulnerable […]
Small Business, Big Fraud Risks
It’s not always easy being small. For one thing, small businesses (with fewer than 100 employees) experience higher occupational fraud losses: a median $150,000 vs. $140,000 for larger companies, according […]
Be careful when claiming “Made in USA”
Recently, the Federal Trade Commission (FTC) settled a lawsuit with a company it says made false and misleading claims about its consumer products. Specifically, the company advertised on its website […]
