Tag: fraud

Take five minutes to secure your tax return from identity theft

The IRS has provided a new way taxpayers can help prevent a tax return being filed under their name and SSN. The recently expanded Identity Protection PIN Opt-In Program provides a six-digit code known only to the taxpayer and to the IRS....

SCAM Alert: Coronavirus fraudsters add to the anxiety and misery

  • March 16, 2020
  • Maria Montie, CPA, MST, CVA, MAFF

From the Association of Certified Fraud Examiners: Disaster fraud has become so common that many U.S. federal agencies were quick to create websites to address coronavirus-related scams, complete with tips and sharable graphics for users to link to on social media. Some...

10 ways small businesses can avoid fraud

As most of us know, small and mid-sized businesses are more vulnerable to fraud than larger organizations, and the effects can be much more damaging. To keep your business one step ahead, follow these ten tips to avoid business and...

Report finds fraud hits small businesses harder

According to the recently released 2018 Report to the Nations on Occupational Fraud and Abuse, occupational fraud continues to drain a significant amount of money from businesses worldwide, with smaller organizations being hit particularly hard. The Journal of Accountancy recently...

Understanding and minimizing the chance of employee fraud

Do you ever wonder if any of your employees are capable of committing fraud? According to Donald Cressey, PhD, trusted persons can become trust violators if three factors are present. These factors are referred to as the “Fraud Triangle”. A...

Monitoring fraud risks in the supply chain

Nearly one-third of about 2,600 supply chain professionals said their companies experienced supply chain fraud, waste or abuse the previous year, but only 40% had a program in place to detect or prevent these issues.  Companies can probe one of...

Fraud controls may be lacking at smaller organizations

Organizations with fewer than 100 employees significantly trail their larger counterparts in the implementation of formal antifraud controls, according to a worldwide survey by the Association of Certified Fraud Examiners (ACFE). The industries most commonly victimized by fraud are banking...

Are your business assets vulnerable to theft?

The United States Trustee ("UST") encourages every chapter 11 small business owner to think about whether assets essential to the business are protected against theft or fraud. The potential for employee dishonestly, the most common type of business theft, increases...

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....

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....