Fraud and Forensics

Categories
Because their cultures are oriented toward helping others, nonprofits often find it impossible to imagine that anyone working for them would steal. As a result, too many charities neglect to put proper internal controls in place and, if they’re defrauded, refuse to seek prosecution of the perpetrator.
In today’s rough-and-tumble world of mergers and acquisitions (M&As), buyers need to get to know business sellers and their executives, test their representations about asset condition and financial performance, and screen for common fraud schemes.
Sometimes it happens: General partners (GPs) of a limited partnership intentionally mismanage the business or commit fraud. If you’re a limited partner (LP) in such a partnership, it’s important that you recognize the signs that something’s amiss.
Lapping, or using receipts from one account to cover theft from another, is one of the most common methods of skimming from company accounts. But with vigilance — and a little knowledge — you can prevent this type of fraud from damaging your business.
Recovering from tax-related identity theft can be a frustrating and time-consuming process. But the IRS can help remove fraudulent, inaccurate information from your federal tax records and ensure that your legitimate return is processed correctly. The key is to address the issue as soon as you realize your identity has
Parties to divorce sometimes accuse their spouses of hiding income or assets. Unfortunately, such accusations occasionally are true.
Investment fraud, such as Ponzi schemes, can cause significant financial losses for not-for-profits. But the harm it can cause an organization’s reputation with donors and the public may be even worse.
Fraud that makes the headlines are typically disbursement schemes, meaning that they are frauds that occurred from the disbursement of cash, such as embezzlement and purchasing frauds.  While these are very significant and should be considered by every type of organization by addressing internal controls surrounding cash disbursements, associations may
If your sales team is willing to say whatever it takes to land a sale, it could hurt your company’s good name. So don’t overlook sales when building an ethical business culture.
Your first action when you uncover fraudulent activity should be to take proactive steps to preserve evidence. Otherwise, you might inadvertently destroy or discard critical data. And without evidence, fraud can’t be fully traced and perpetrators can’t be prosecuted and punished.
All employers have personnel data on their information technology systems and devices. This data includes personally identifiable information (PII) such as names, addresses, birth dates and Social Security numbers of employees and their family members.
Every day there are tens of thousands of new threats created, and most of them will be delivered to your employees in the form of an innocent looking email, a shared file, or an infected website. A simple click of their mouse will invite it in to your network. So
Once the tax filing season is over doesn't mean that tax scams have ended. Taxpayers face the threat of tax scams at any time because it is highly profitable for fraudsters year round. IRS phone scams, in particular, can be carried out any time of the year.
According to Steve Lapppenbusch, Ph.D., of LexisNexis Risk Solutions: "An identity is stolen every three seconds--adding up to about 27,000 per day."
The Association of Certified Fraud Examiners (ACFE) releases a report that summarizes information from fraud cases investigated in more than 100 countries. The 2014 report includes an analysis of 1,483 cases of occupational fraud.
We Value Your Privacy

This site may use cookies to store information on your computer. Some are essential to make our site work and others to improve the user experience. By using this site, you consent to the placement of these cookies and accept our privacy policy.