IRS Warns Taxpayers of Tax-Related Scams
As tax season begins, the Internal Revenue Service reminds taxpayers to protect their personal and financial information and watch out for IRS impersonation scams, along with other schemes, that try […]
Category: Fraud
How Cash Flow Statements Help Experts Find Fraud
Many fraud investigations focus on financial statements. Because cash is the most commonly stolen business asset, fraud experts regularly scrutinize statements of cash flow for signs of misappropriation and fraudulent […]
To Prove Fraud, You Need to Preserve Evidence
Prevention is the heart of any fraud mitigation program. But sometimes even solid internal controls fail (because, for example, a manager overrides controls) and occupational fraud occurs. If you suspect […]
Commission Fraud: When Salespeople Get More Than They’ve Earned
Many employees — from retail workers to sales staffers involved in complex business-to-business transactions — receive part of their compensation from sales-related commissions. To attract and retain top talent, some […]
Managing Third-Party Contractor Risk
Companies of all sizes routinely outsource work to third-party contractors. Yet, each hired contractor comes with risk. Whether deliberate or unintentional, a third party’s actions can cost you money and […]
Protecting Goods from Theft — At Every Stage of Their Journey
The U.S. supply chain is overwhelmed and it’s expected to remain so for some time. With so many shipments tied up in ports and too few workers to watch them, […]
KYC Rules Help Prevent Fraud and Offer Other Advantages
For years, banks, financial service and investment companies, and exporters have been required to follow know-your-customer (KYC) processes to thwart criminal activity. Developed to help certain businesses comply with anti-money […]
Check Kiting Is No Game
Despite the business community’s rapid adoption of digital payment methods, some companies continue to rely on paper checks. But there’s a long-standing problem with checks: they make businesses vulnerable to […]
Fraud Lurks Case Study: Expense Reports – On Steroids!
This is the fourth in a series of case studies of frauds/defalcations which I personally investigated. This month’s case study is entitled “Expense reports on steroids.” This fraud differs from […]
Typosquatters Are Leading Innocent Victims Astray
Typosquatting takes advantage of an inclination among internet users known as “fat fingers” — a tendency to hit the wrong keys and enter misspelled trademarks or brands. Like phishing, typosquatting […]
How to Comply With New Financial Crime Regulation: CTA
Earlier this year, the Corporate Transparency Act (CTA) became the latest law intended to foil financial crime. This law is part of the National Defense Authorization Act and requires certain […]
Is Someone Stealing Your Company’s Secrets?
Corporate espionage has long been a threat for U.S. companies. Recently, intellectual property theft by foreign governments and organized crime gangs has grabbed headlines — for good reason. According to […]
