In today’s digital age, personal financial fraud has become an increasingly prevalent threat. Scammers are constantly devising new ways to steal your hard-earned money, and it’s essential to stay informed and vigilant. This blog post aims to educate you on how to avoid becoming a victim of personal financial fraud, the most common financial fraudContinue reading “How to Avoid Becoming a Victim of Personal Financial Fraud”
Category Archives: Fraud
Unraveling the Mysteries: The Role and Relevance of Forensic Accountants Today
In an age where financial complexities and fraud have become increasingly sophisticated, the role of forensic accountants has never been more critical. These financial detectives combine accounting expertise with investigative skills to uncover financial discrepancies, fraud, and embezzlement. But what exactly does a forensic accountant do, and where is their expertise most needed? Let’s exploreContinue reading “Unraveling the Mysteries: The Role and Relevance of Forensic Accountants Today”
Why Accounting Internal Controls Are Important
In the same way that preventive maintenance is essential for keeping a car running smoothly, accounting internal controls are crucial for ensuring a business operates efficiently and securely. Just as neglecting regular oil changes, tire rotations, and brake checks can lead to costly repairs and potential breakdowns, ignoring or inadequately implementing internal controls can exposeContinue reading “Why Accounting Internal Controls Are Important”
Trustee Fraud: A Closer Look at Breach of Fiduciary Duty
Trustee fraud, a type of financial misconduct, involves a trustee who breaches their fiduciary duties to the beneficiaries of a trust. Trustees are legally obligated to act in the best interest of the beneficiaries, managing the trust’s assets with care, loyalty, and impartiality. When trustees exploit their position for personal gain, it constitutes fraud, oftenContinue reading “Trustee Fraud: A Closer Look at Breach of Fiduciary Duty”
Impostor Fraud Is On the Rise
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.
The Rise and Fall of an Embezzlement Scheme (video)
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,Continue reading “The Rise and Fall of an Embezzlement Scheme (video)”
What Does Fraud Mean To You? (video)
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.
Business Practices to Prevent Fraud in Small to Medium Legal Practices
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.
ACFE 2017 Global Fraud Study – The Staggering Cost of Fraud
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.
The Importance of Selecting the Right Forensic Accountant
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.
Janicek Valuation & Forensic Services, PLLC 