Impostor Fraud is Increasing in the United States . According to an FBI report from October 2013- May 2018 there were 41,158 U.S. Businesses that loss an estimated $2.9 billion to this type of fraud. [Read more…]
The Rise and Fall of an Embezzlement Scheme (video)
01/25/2019 Posted By
After the reinsurance company Nathan Mueller worked for was purchased by ING for $6 billion, he played a key role in transitioning its operations onto ING’s enterprise resource planning system. He began embezzling money to pay off personal debt and fund a passion for gambling. What started as a $1,100 check to a credit card, spiraled into an $8.5 million fraud over the next four years. It was only a co-worker’s suspicions that brought the fraud to an end. After being caught, he pleaded guilty and was sentenced to 97 months in federal prison. He was released in September of 2014. In this video, Nathan describes the details of his embezzlement scheme. [Read more…]
What Does Fraud Mean To You? (video)
11/26/2018 Posted By
You may not think about it every day, but fraud affects your life more than you may realize. Learn how to protect yourself in the latest video from the ACFE. [Read more…]
Business Practices to Prevent Fraud in Small to Medium Legal Practices
11/19/2018 Posted By
The best defense against business fraud is for the attorney or attorneys to be involved in the business aspects of their legal practice. The goal here is to implement strong internal controls to accurately record income and expenses and to to safeguard business assets. [Read more…]
ACFE 2017 Global Fraud Study – The Staggering Cost of Fraud
11/26/2017 Posted By
Organizations worldwide lose an estimated 5 percent of their annual revenues to fraud, according to the 2017 ACFE Report to the Nations on Occupational Fraud and Abuse. Fraud takes many shapes and forms, among them corporate fraud, consumer fraud, tax fraud, identity theft and many others. [Read more…]
The Importance of Selecting the Right Forensic Accountant
04/09/2017 Posted By
One of the most important decisions an attorney involved in a complex litigation will have to make is the selection of a forensic accountant as a consultant or as an expert witness. The specialized training and expertise of a forensic accountant can make a significant impact in the successful outcome of a case. [Read more…]
ACFE 2016 Global Fraud Study – Fraud In Small Business
12/31/2016 Posted By
Anti-fraud professionals, business managers, government and regulatory agencies, and the media each have a vested interest in assessing the total amount of money lost to fraud each year. While many studies have attempted to determine the extent of fraud’s financial impact, the challenges in arriving at the true total cost of fraud are numerous. [Read more…]
Common Characteristics of Employee Perpetrated Fraud
10/10/2016 Posted By
When employees hear that one of their co-workers has been arrested for committing workplace fraud, many times they are surprised that someone they know would commit such an act.
However , it has become our experience that there are common characteristics of employees who perpetrate workplace fraud. The four common red flags we see when conducting employee fraud [Read more…]
What Is the Difference in All the Various Valuator Credentials?
04/25/2016 Posted By
Okay, you’ve seen the professional designations such as CPA, CVA, AVA, ABV, ASA, CBA, CFFA and so on. But WHAT ARE ALL OF THESE DESIGNATIONS? Isn’t just a regular CPA all one needs in a matter of valuation or forensic accounting? [Read more…]
Phone Scams & Fraud Continue to be Serious Threat For Taxpayers
01/22/2015 Posted By
WASHINGTON — Aggressive and threatening phone calls by criminals impersonating IRS agents remain near the top of the annual “Dirty Dozen” list of tax scams for the 2015 filing season, the Internal Revenue Service announced today. [Read more…]