The Interview Before the Fraud Interview
When Anna, the chief executive officer of a small manufacturing company, received an anonymous report about fraud in the accounting department, she was not sure how to act. After all,
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Category: Fraud
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
The Ugly Side of the Precious Metals & Stones Industry
All that glitters is not gold. This includes gold — and other precious metals, stones, and jewels that are sometimes used to launder the ‘dirty’ proceeds of criminal activities such
When Divorcing Business Owners Minimize Profits
Dividing a marital estate is rarely easy, and it is made much harder if a divorcing spouse owns a private business and attempts to artificially deflate its profits or hide
Fraud Still Matters When Making Business Acquisitions
The COVID-19 pandemic has often made the due diligence process for business acquisitions more complex and time-consuming. But if you are buying a company, it is critical to dedicate your
Deepfakes: The Newest Frontier in Fraud
Fraud perpetrators are constantly altering their methods to evade detection. Nimble cybercriminals, for example, are why information technology security companies update their software so frequently. The use of deepfakes (a
Receivables Can Mean Fraud Risk — Here is How to Reduce It
One of the most common routes for occupational fraud perpetrators runs through the accounts receivable department. Unless you are aware of these schemes and take steps to prevent them, your
Factor in Fraud When Selling Customer Invoices
If your business struggles to generate steady cash flow from operations, factoring is a possible solution. With factoring, a business sells the right to collect on customer invoices to a
Making An Estate Plan? How To Avoid Fraudulent Transfers.
If you have an estate plan and also have creditors, you could be a fraud perpetrator — without knowing it or intending to defraud anyone. In some circumstances, creditors can
Startup Investments That May Be Too Good to Be True
Many startup companies require access to large sums of investment capital to take on well-established competitors. The need to raise such funding may encourage a startup’s founder to paint an