Scam artists know how anxious business owners are during the current coronavirus (COVID-19) crisis. They know that as you struggle to meet customer demands, pay employees and stay solvent, you’re more likely to drop your guard and fall for a fraud scheme. The last thing your business needs right now is to suffer additional financial […]

COVID-19 Fraud

As governments around the globe mobilize to defend their populations from the novel coronavirus (COVID-19), criminals are also mobilizing — to fleece people. These opportunists have already found ways to use the fear and chaos associated with the pandemic to enrich themselves. But you can protect yourself and your business. Ripe opportunity Phishing emails that […]

A man slipping money into his suit pocket

In theory, investigating executives for fraud shouldn’t differ from investigating rank-and-file employees. In reality, an executive can slow, even shut down, a fraud investigation. Your company needs a plan to prevent interference and facilitate the collection of evidence. This starts by working with HR and legal advisors to brief the suspect’s superior. If employees are […]

Peson reviewing graph, pie and bar charcts

As with any type of fraud, the sooner financial statement manipulation is detected, the more likely losses can be mitigated. One tool management and fraud experts might use to assess the likelihood of earnings manipulation is the Beneish model, which measures the probability that a company’s revenue has been inflated and expenses understated. The model […]

Brightly colored highlighters

Among other things, office supply scams con businesses into paying for products they didn’t order. To prevent your company from falling victim to phony invoice and fake promotional schemes, designate one or two buyers to follow specific procedures for documenting and approving purchases. Buyers should instruct vendors to include your company’s purchase order numbers on […]

Three employees having a meeting

Whether an employee has alleged harassment or reported a coworker for fraud, your company needs to handle misconduct complaints seriously. Several best practices can help you get to the bottom of an allegation quickly and avoid legal complications. For example, take every precaution to maintain confidentiality, both for the accuser and accused. Also maintain detailed […]

Hands reaching for money on hooks

A Small Business Administration (SBA) loan can make big things happen for your company. But the agency’s loan program is sometimes abused by con artists. Be wary of businesses that charge upfront fees to help you apply for an SBA loan, even if they’re couched as “processing” or “credit check” fees. High-pressure tactics, such as […]

Image of a courtroom

Some fraud schemes refuse to die. Jury duty scams existed long before phishing, malware and other cybercrime methods became synonymous with identity theft. Yet just this month, the U.S. Marshals Service issued a fraud advisory about this old-school con that’s enjoying a resurgence. Common methods Here’s how jury duty scams work: Perpetrators posing as court […]

A person entering medical information on a tablet

Like many sectors of the economy, the healthcare industry regularly suffers data breaches. Healthcare analytics company Protenus has found that nearly 32 million patient records were breached between January and June 2019 alone. Alarmed? You should be. However, there are steps you can take to reduce the risk that thieves will get a hold of […]

You may suspect that an employee has stolen from your company. But without evidence of a crime, you’ll have a hard time pursuing prosecution. If you discover fraud, first call your attorney, then take steps to preserve the evidence. Paper documents should be handled as little as possible and stored in a safe location. So […]