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Consumer Fraud Complaints in 2013
The Federal Trade Commission (FTC) has issued its annual Consumer Sentinel Network Data Book for 2013. The data consists of fraud and identity theft complaints filed by consumers with the FTC as well...
View ArticleFraud Update: 2014 Report to the Nations
The Association of Certified Fraud Examiners (ACFE) has released its bi-annual “Report to the Nations on Occupational Fraud and Abuse”. The study, issued since 1996, looks into the costs, schemes,...
View ArticleEmployee Fraud: How to Spot a Fictitious Vendor Billing Scheme
Billing schemes are a common type of employee fraud. One of the reasons billing schemes are so prevalent, is because they may offer the dishonest employee the ability to steal significant amounts over...
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Camaraderie or Collusion – Encourage One But Not Both
Management teams across the nation are encouraging team building among staff to encourage and promote employee friendships and to boost morale. I commend these organizations for promoting a healthy...
View ArticleExpense Reimbursement Schemes – Are Your Employees Stealing from You?
Expense reimbursement schemes are extremely common in companies. Employers may underestimate the costs of this type of fraud. Perpetrators of these schemes range from administrative employees buying...
View ArticleFraud in Non-Profits?!
It can’t be. After all, these organizations are meant to help those less fortunate than ourselves. Why would anyone commit fraud against a non-profit organization? Unfortunately, because they can is...
View ArticleProperty Management Fraud
A former Tucson real estate agent was indicted on more than 20 counts related to real-estate fraud. The agent began operating a property management company in 2008 after suffering declines in his...
View ArticleDid the Fraudster Act Alone? The Impact of Collusion on Fraud
When performing forensic accounting engagements to detect or quantify employee theft or other types of fraud that has occurred in organizations, we often find that there is more than one person...
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Telephone Fraud: Beware of the Big Prize Promise
I know an elderly lady who is disabled and in early stages of dementia. Her name is Doris. Doris was the recent victim of a telephone scam. Doris’ four adult children recently told me that two months...
View ArticleDid You Just Try to Scam a Forensic Accountant?
As a forensic accountant, I know that telephone scams are becoming increasingly more common. However, I was surprised when I actually received a phone call recently with an automated message stating...
View ArticleDepositing Checks Remotely – The Banks are on Top of this, Right?
Ah, the convenience of depositing a check right from my phone. How much easier could it get? Log onto my account, choose remote deposit, snap a picture of the front and back of the check and...
View ArticleDetection and Prevention of Fraud Schemes
Do you worry about the potential for fraud in your company? There is a fairly simple and affordable way to help prevent and detect fraud – through implementation of a “tip line.” Because tip lines...
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No More Swiping Means Safer Transactions, at Least in Person
Many of you may have received new credit cards recently which contain a small metallic square on the left front of the card. These are new EMV (Europay, Mastercard and Visa) cards which are being used...
View ArticleThe Fraud Triangle
In order for fraud to occur, there normally needs to be three conditions present: a pressure, an opportunity and a rationalization. This is known as the fraud triangle. The first side of the fraud...
View ArticleHow Do You Not Notice $17 Million Missing?
$16,764,128.95 – let’s think about that for a minute. Almost $17 million gone over a 9 year period – a mere $1.86 million per year. Would you notice? That’s how much the former controller for the...
View ArticleFraud: 2016 Report to the Nations
Every two years the Association of Certified Fraud Examiners issues its bi-annual study known as the Report to the Nations on Occupational Fraud and Abuse. The study looks into the costs, schemes,...
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