Most fraud-prevention guidance advises owners and managers to monitor employees. But what exactly does this mean? Are you legally entitled to monitor employee computer use? What about security cameras in the workspace? Can you search an employee’s desk if you suspect the person is hiding...
Americans generally feel generous during the holidays and usually are eager to donate to worthy charitable causes. At the same time, they are so busy and rushed with holiday activities they do not necessarily research charities that ask for support. Fraud perpetrators masquerading as non-profits...
These days, many offices and other workspaces are nearly empty as employees work from home. This can make companies that do not safeguard their computers, printers, and other equipment vulnerable to theft from outsiders. Even during normal times, businesses often lose assets because crooked employees...
According to data company Dun & Bradstreet, business identity theft increased more than 250 percent in the first half of 2020. You can thank the pandemic — and the government’s release of relief and recovery funds to qualified U.S. businesses — for this remarkable number....
Management overrides of internal controls can make your company more vulnerable to fraud. This is true even when managers have innocent intentions — for example, they do not feel they have time to follow proper accounts payable procedures because a vendor is requesting immediate payment....
Ghost stories can be good fun, particularly this time of year. Ghost employees, on the other hand, are trouble for employers. They may be just as fictional as the paranormal activities in your favorite scary book or movie, but if you have ghost employees on...
Forensic accountants are engaged for a wide variety of assignments, among them investigating fraud, auditing internal controls and quantifying damages associated with legal disputes. All of these require attention to detail and a diverse set of skills including mathematical, technological, legal, and investigative. But the...
Not all shell companies are dishonest. Despite their often-sinister reputation, these paper-only companies may be used legitimately to hold another business’ assets. Or they may be the ‘empty container’ left after a company downsizes or is acquired. That said, some fraud perpetrators use shell companies...
The COVID-19 pandemic has put enormous pressure on medical practices and healthcare workers. The last thing they need right now is to worry about financial losses and other negative repercussions of occupational fraud. To help make sure physicians and their employees can focus on patient...
Management consulting company McKinsey names synthetic identity (ID) theft the fastest growing financial crime in the United States. And a LexisNexis Risk Solutions study has found that 20 percent of ID theft losses by banks can be attributed to synthetic versions of the scheme. If you...