To be effective, you can’t fight fraud passively
When it comes to reducing fraud loss and duration, active detection methods (such as surprise audits or data monitoring) are far more effective than passive methods (such as confessions or […]
Post Author: Anthony LaNasa CPA CFE
Why your phone may be a fraud risk
As more people use mobile phones, more fraud perpetrators target these devices. According to Javelin Strategy & Research, between 2017 and 2018 the number of fraudulent mobile-phone accounts opened grew […]
Assess for fraud risk before you experience financial losses
If you’re like most business owners and executives, you may not actively search for fraud risks — until there’s an incident and you’re facing possible losses. Although publicly traded companies […]
Cover all the bases with a background check
Background checks don’t inoculate companies against occupational fraud and other criminal acts by employees. After all, many thieves have never been caught and, therefore, have no criminal background. But conducting […]
The greatest corporate espionage risk is internal
It’s a federal crime to steal trade secrets, but that doesn’t stop thieves from successfully making off with billions of dollars in intellectual property (IP) annually. Companies may work hard […]
Fraud guides may help criminals hack your data
Fraud experts have long known that “dark web” sites provide information, support and illicit goods to hackers and other criminals. But security company Terbium Labs recently published a report analyzing […]
Calculating fraud damages isn’t as simple as it may seem
When businesses are defrauded, courts can — and in some states must — order restitution. But it isn’t always easy for judges to decide how much a company has lost. […]
How experts use data analysis to detect fraud
Data analytics is changing the way many businesses operate. It’s also changing how forensic accountants do their jobs, providing fraud experts with the means to mine massive mounds of data […]
Don’t mistake kickbacks for gifts
Kickbacks return a portion of the money exchanged in a business transaction as compensation for favorable treatment. They’re illegal in the United States and many other countries. But because […]
Fraud du jour: Social Security phone scams
Despite the National Do Not Call registry and features such as caller ID, phone fraud is thriving in the mobile phone era. Using spoofed numbers — which appear to be […]
Conflicts of interest: When employees aren’t on your side
One of the governing principles of the employee/employer relationship is that employees have a fiduciary duty to act in their employer’s interests. An employee’s undisclosed conflict of interest can be […]
Antifraud checklist for construction companies
According to the Association of Certified Fraud Examiners’ Report to the Nations: 2018 Global Study on Occupational Fraud and Abuse, organizations victimized by fraud lose a median $130,000. But construction […]
