Business Fraud Prevention
Business Fraud Prevention
Business Fraud Prevention
Six Steps to Prevent Trust From Being Betrayed
In order to effectively run a company, senior managers are entrusted with tremendous power and authority. But what if they decide to use it to line their own pockets? Investigations of executive management can be highly contentious and fraught with difficulty. It is imperative that they are conducted with the utmost discretion by highly trained […]
Business Fraud Prevention
Six Costly Mistakes to Avoid When Fraud Is Suspected
Many workplace crimes are “inside jobs.” They can involve employees stealing cash, inventory, equipment or intellectual property. Or they could include more sophisticated schemes such as bribery, kickbacks or payroll fraud. Internal fraud investigations can pose numerous challenges. Here are six costly mistakes an organization can make when faced with the possibility that one of its […]
Business Fraud Prevention
Consider Deploying a Red Team at Your Business
Protecting a company from attack by third parties intent on stealing money, data — or both — is a constant challenge. Companies must anticipate where the threat is the most severe and defenses are the weakest and dedicate the appropriate resources there. However, given the complexity of a company’s information technology environment, as well as […]
Business Fraud Prevention
Contacting Law Enforcement Officials after Detecting Fraud
Let’s say your company has detected internal fraudulent activity, fired the employee involved and documented the findings. Now, you would like to pursue criminal charges and potentially receive restitution. How do you present the case to law enforcement? Consult with your attorney and consider taking these six steps: After Detecting Internal Fraud … … 58% […]
Business Fraud Prevention
How the Risk of Detection Reduces Fraud
Do your employees feel like they’re being watched? If they don’t, they may be emboldened to steal. In the same way that putting more police officers on streets tends to reduce crime, making your company’s anti-fraud activities more visible can discourage fraud perpetrators. Good internal controls are critical to preventing fraud. But many companies have […]
Business Fraud Prevention
Let a Contingency Plan Steer You Through a Fraud Disaster
The first thing every Boy Scout or Girl Scout learns is to “be prepared.” Business owners would do well to remember this motto when they’re developing fraud control procedures. Even if you don’t believe your employees are capable of defrauding the company, it could happen. And if you have a fraud contingency plan in place, […]
Business Fraud Prevention
How Crooks Use Bankruptcy to Cheat Creditors
When a company goes bankrupt, honest owners or directors do everything they can to hold creditors’ losses to a minimum. When it becomes clear the business can’t be saved, they halt trading (in the case of public companies), hire professional advisors to help guide them through bankruptcy proceedings and generally arrange for orderly liquidation. Less […]
Business Fraud Prevention
Avoid Unhappy Returns
Every day, retailers across the country issue refunds to customers. The reasons range from a bad fit to the wrong color to a changed mind. The transactions are generally simple — the customers get money or a credit card refund and the store gets merchandise that it needs to resell. How the Cons Work Refund […]
Business Fraud Prevention