Internal Control Audit: Making life easier for businesses may make life harder.
We have all seen the commercials where the guy is sitting in his easy chair and starts to go out but instead takes a picture of his bank deposit with his phone then sits back down again to resume his...
View ArticleAccounting Fraud: The Ponzi never sleeps.
There has been a rash of fraud scandals put to bed (prison) lately. Here are some examples of ones that occurred in 2011. A hedge fund manager, Adley H. Abdulwahab and his partner in crime, Christian...
View ArticleFraud Detection: Need a checkup?
How long has it been since you have looked at your company in terms of procedures and controls in place? Is fraud prevention on your mind? It should be. Fraud can be a catastrophic risk, one that...
View ArticleBusiness Fraud: Top Ten Ways Fraud & Deception Can Cause IRS Troubles
Top Ten Ways Fraud & Deception Can Cause IRS Troubles Number 10 – Abusive Foreign Trust Schemes. By creating multiple trusts (some domestic and some foreign) the taxpayer appears to have...
View ArticleGaming: We all need checkups from time to time.
As with any disease, undetected fraud can be very dangerous and costly. The new American Institute of Certified Public Accountant’s Audit and Accounting Guide for Gaming came out in March 2011. What...
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How to Prevent Workplace Fraud
Business owners need to be alert to signs of employee fraud. The experts here at Veriti have noticed a significant rise in cases involving employer fraud in recent months. It’s not just a matter of...
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Keys to Fraud Prevention at Casinos
While employee fraud is a risk in any business, the gaming industry, casinos in particular, provide an especially fertile ground for this type of theft. The main reason for this is the large amount of...
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Illinois Accountant Sentenced in Fraud Case
The path to becoming an accountant isn’t easy. It requires a good education as well as time and dedication to be successful. In return, clients put a good deal of faith and trust in their accountants...
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Analysis of a Fruad Investigation
Author Stephen Pedneault talks about the steps to a Fraud Investigation in the video below. Stephen has written a book on what is a little understand accounting practice. Valuable work is done by...
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Why Loyal Employees Can Destroy Your Business
As a small business owner, a lot of trust is placed in the most loyal employees. Unfortunately, most fraud is usually committed by those same trusted individuals. According to the Association of...
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N.C. Residents Victim of $600 million Ponzi Scheme
Turn on the news or scroll through news articles on the Internet and it’s not unusual to come across stories of fraudulence or people being taken advantage of in investment scams. The thought that...
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Accounting Firm’s “Entrepreneur of the Year” Arrested for Swindling Millions...
Investments by nature are risky. Whether you are investing in real estate, the stock market or a private company you are trading the possibility of increasing your investment with the potential of...
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Fraud: What to Watch For and How to Avoid It
Small businesses are the backbone of America. Entrepreneurs helped build this country and make it great. They employ more Americans and help keep local economies growing. Even many of the large...
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10 Worst US States for Fraud
10 Worst US States for Fraud Living in the United States , for many, conjures up images of financial security, home ownership, secure job, happy family—the quintessential American Dream. Unfortunately...
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Corporate Fraud Task Force Making a Difference in 2013
The Presidents Corporate Fraud Task Force was signed into law by executive order in 2002. In the wake of corporate fraud scandals like Enron that shook investors and created instability within the...
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Employees of NY Debt Consolidation Company Charged with Fraud
Debt is one of the most challenging financial obstacles for Americans. When money is tight and it’s hard to make ends meet, credit cards often feel like the only option. Add that to car loans,...
View ArticleInsurance Fraud
Understanding Insurance Fraud As long as there have been insurance companies, people and companies have found ways to cheat the system. The main motivation for this fraud is to maximize their premiums...
View ArticleFormer Connecticut Non-Profit CFO Sentenced on Embezzlement Charges
Project Genesis, a non-profit organization in Connecticut, helps adults and students with disabilities live and work in their communities. They provide educational assistance as well as job programs to...
View ArticleSentencing Hearing Held for Former City Finance Employee Guilty of Fraud
A cursory glance at fraud investigations will show that there is no one type of person or just one motive that leads a person to commit fraud. Some people feel desperate, the economy has been down and...
View ArticleFraud: What to Watch For and How to Avoid It
Small businesses are the backbone of America. Entrepreneurs helped build this country and make it great. They employ more Americans and help keep local economies growing. Even many of the large...
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