Preventing, detecting, and investigating occupational fraud requires a deep understanding of the types of schemes, potential financial losses, emerging threats, and risk mitigation strategies. To that end, the Association of
These days, it’s common for businesses to purchase cyber insurance to help mitigate financial losses from network breaches. According to the U.S. Government Accountability Office, the proportion of businesses adding
When criminals steal an individual’s identity, the victim can take steps to reduce potential damage by, for example, notifying credit agencies and freezing bank accounts. But what happens if a
When banks detect suspicious activity in a customer’s account, they often call account holders to discuss the transactions. Time is of the essence when it comes to preventing fraud, especially
Executives often receive lucrative compensation packages. But for some, it isn’t enough, and they engage in illegal activities to line their own pockets. The Association of Certified Fraud Examiners (ACFE)
Keeping track of every information technology (IT) asset — particularly as remote work has become common — is essential if your company wants to limit financial losses and fraud risk.
According to blockchain data company Chainalysis, cryptocurrency transactions associated with illegal activity topped $14 billion in 2021. That’s almost double 2020 numbers — and the momentum shows no signs of
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
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
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
