Category: Scam Alert!
Cast a critical eye as a first step to fighting fraud
A healthy dose of professional skepticism is essential in fighting fraud, even if it goes against human nature to be skeptical of people we’ve come to trust. A Crowe Horwath report outlines steps stakeholders can take to encourage such skepticism....
Proper reporting of embezzled income to the IRS
Proper reporting of the embezzled income to the IRS provides employers with documentation for deducting losses and meeting the filing requirements of Section 6721 and Section 6722. It will, in addition, alert the IRS to possible unreported income by the...
Scam Alert: QuickBooks scam targets small businesses
A new phishing scam is targeting small businesses with a message that looks like an email alert from QuickBooks. How the Scam Works: You receive an email with the subject line “QuickBooks Support: Change Request.” The message is “confirming” that you...
Are your internal controls sufficient?
According to a recent article in the Detroit News, a 52-year-old woman reportedly embezzled more than $1,000,000 over a six-year period from the Bloomfield Township staffing firm she worked for. At ShindelRock, we offer an internal controls analysis service, where we look at your business' internal controls...
Why startups and smaller organizations need internal control
Because smaller organizations are often hit hardest by fraud, it's critical that they develop adequate anti-fraud controls at their organizations. A recent blog from AICPA highlighted four critical reasons why start-ups and smaller organizations need adequate and effective system of internal control....
5 fraud tips every business leader should act on
Organizations worldwide lose an estimated 5 percent of their annual revenues to fraud, according to the Association of Certified Fraud Examiners (ACFE) 2016 Report to the Nations on Occupational Fraud and Abuse. A single instance of fraud can be devastating:...
The many ways scammers can get their hands on your money
Scams come in all shapes and sizes, but many share similar characteristics. And if you know what they are, you can save yourself from being swindled. Some of the more common characteristics of investment fraud include: The investments are promoted...
IRS warns of fake CP2000 tax bill
The IRS recently issued an alert to taxpayers and tax professionals to be on guard against fake emails claiming to contain an IRS tax bill related to the Affordable Care Act. This particular scam involves an email with a fake...
Red flags of employee fraud
For business owners, dealing with an employee who commits fraud is a traumatic experience. Were there signs you missed? Could you have prevented it? While there is no way to stop these types of crimes, you can educate yourself on...
How small businesses can keep data secure
A lack of resources and a false sense of security can make small businesses enticing targets for hackers. Organizations with limited IT budgets can keep their data secure by: Don’t think it can’t happen to you. Breaches at large companies...