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Category: Internal Controls & Fraud Prevention

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June 16, 2022
Oversight and Controls Are Key to Limiting Fraud in Nonprofits

Recently, the Association of Certified Fraud Examiners (ACFE) published its biannual Report to the Nations: 2022 Global Study on Occupational Fraud and Abuse. Of all the types of organizations surveyed by the ACFE, not-for-profits actually were the least likely to experience...

October 25, 2021
How Business Owners Can Comply with New Financial Crime Regulation

Earlier this year, the Corporate Transparency Act (CTA) became the latest law intended to foil financial crime. This law is part of the National Defense Authorization Act and requires certain entities to disclose the identities of those who own or control it....

October 4, 2021
Actively Look for Fraud and Reduce Financial Losses

The Association of Certified Fraud Examiners’ (ACFE’s) Report to the Nations: 2020 Global Study on Occupational Fraud and Abuse provides ample evidence that some fraud detection methods are better than others. In general, passive methods, such as accidental discovery or ...

August 16, 2021
Protect Your Company From Cyberattacks by Adopting Zero Trust

Some organizations struggle to prevent cyberattacks because they rely on cybersecurity tools and techniques that protect only their perimeter. Perpetrators who make it past a single line of defense (such as with a username and password) can gain unfettered access to the comp...

August 2, 2021
Gift or Kickback? It’s a Fine Line.

Your employees shouldn’t accept any gift offered with the intent to improperly influence business decisions — or even one that merely appears to compromise their ability to act in your company’s best interests. Unfortunately, kickbacks are often disguised as gifts or t...

July 19, 2021
What You Can Do to Prevent Fraud in Your Construction Company

Fraud is costly for all victimized companies, but it’s even worse in the construction sector. According to the Association of Certified Fraud Examiners’ Report to the Nations: 2020 Global Study on Occupational Fraud and Abuse, construction companies affected by fraud los...

July 12, 2021
Prevent Conflicts of Interest from Costing Your Business

Without trust between you and your employees, your business probably wouldn’t be very successful. Delegating responsibility, sharing ideas, working as a team — all require a certain level of trust. However, too much trust can lead to occupational fraud and conflicts of i...

July 6, 2021
How Fraud Perpetrators Target Military Personnel and Veterans

According to the Federal Trade Commission, veterans lost approximately $60 million to fraud in 2020. Active-duty military personnel and their spouses and dependents also suffered big financial losses to fraud last year. In fact, in 2020, military consumers lost more than the...

June 22, 2021
Don’t Let Fraud Ruin Your Restaurant’s Reopening

Most restaurants are finally reopening to in-person dining. And while you may now be thinking about luring customers back, hiring enough workers and managing supply-chain shortages, one issue has remained the same: fraud. Restaurants often face fraud threats from employees, ...

June 1, 2021
Cash Talks — and Fraud Experts are Listening

Fraud perpetrators take whatever they can get their hands on. But they generally prefer cash because it’s virtually untraceable. Fortunately, fraud experts have the expertise and tools to trace even cash-based theft....

April 21, 2021
Something’s Wrong in Your Office. Is it Fraud?

Can you name some common red flags of occupational fraud? Don’t worry, you’re not alone. But it’s important for you and your employees to learn the signs so you can prevent big financial losses....

March 22, 2021
The Interview Before the Fraud Interview

If you suspect occupational fraud but have little information or evidence, you may want to conduct preliminary information interviews. But be sure to leave hostile or evasive employees to the fraud experts....