Business Fraud Prevention
Business Fraud Prevention
Business Fraud Prevention
Ten Steps to Help Thwart Employee Theft
There are many types of fraud committed against businesses — from workers’ compensation scams to complex corporate swindles — but one of the most common types is simply employee theft. This can occur when employees take money from a cash register, forge names or change amounts on company checks, engage in creative bookkeeping a number […]
Business Fraud Prevention
Six Red Flags of Financial Statement Fraud
Many incidents of fraud are discovered inadvertently. For example, a staff member may notice something that doesn’t seem right and mentions it to a manager. Upon investigation, internal theft is found. But considering the potential damage that fraud can inflict on a company, it is obviously better to do more than depend on mere chance.
Business Fraud Prevention
Help Prevent Invoice Fraud at Your Business
When a supervisor with Burlington Northern Santa Fe Railway stumbled upon a way to submit fraudulent invoices to his employer, he enlisted several others in the scheme. In the end, more than $2 million in bogus or inflated invoices (details of the case are in the right-hand box) were submitted. How the Fraud Worked […]
Business Fraud Prevention
Tuition Reimbursement: How to Prevent Fraud
Investing in employee education and training is crucial to the long-term success of most companies. In order to remain competitive, many employers offer tuition reimbursement programs to attract and retain talented employees. The programs also provide tax benefits. The vast majority of employees that participate in tuition reimbursement programs do so in compliance with their […]
Business Fraud Prevention
Help Stop Bribery in its Tracks
Today’s companies face a tremendous amount of pressure to win the best deals and contracts. In some cases, employees feel compelled to offer or accept bribes to clinch a business agreement. And in some countries, bribery is widely considered part of the cost of doing business. Watch for Other Forms of Corruption Bribery may […]
Business Fraud Prevention
Don’t Undermine Internal Fraud Investigations
For even the largest and most sophisticated organizations, internal fraud inquiries can pose numerous challenges that can send a case off track, cause legal expenses to skyrocket, and put your enterprise on the losing side.Ranging from lax investigations to not knowing enough about local law, here are examples of six mistakes that turned victory into defeat: 1. […]
Business Fraud Prevention
Are Your Managers Riding Roughshod Over Internal Controls?
According to the latest Association of Certified Fraud Examiners’ Report to the Nations on Occupational Fraud & Abuse, override of internal controls is the primary facilitator of fraud in 19% of cases. Most of these frauds are uncovered only because an employee or other source brings them to light. As these findings suggest, anyone is […]
Business Fraud Prevention