Asset misappropriation schemes make up more than half of all occupational fraud schemes, according to the Association of Certified Fraud Examiners. It’s a broad category that includes everything from skimming cash to stealing inventory to paying “ghost” employees. One hotspot for asset misappropriation is the accounts receivables department, where dishonest staffers could potentially divert customer
fraud prevention Archives - Crawford Ellenbogen
Aug 22, 2023
Feb 10, 2022
To prove fraud, you need to preserve evidence
- By Victor Dozzi
- Fraud
- 0 Comments
Prevention is the heart of any fraud mitigation program. But sometimes internal controls fail and unethical employees steal. If you suspect fraud, act quickly to preserve evidence. It’s usually best to hand an investigation over to experts such as your attorney and a forensic accountant. But before they arrive on the scene, secure paper documents
Jul 6, 2021
Don’t let fraud ruin your restaurant’s reopening
- By Victor Dozzi
- Fraud
- 0 Comments
Most restaurants are finally reopening to in-person dining. And while you may now be thinking about luring customers back, hiring enough workers and managing supply-chain shortages, one issue has remained the same: fraud. Restaurants often face fraud threats from employees, customers and vendors. So now isn’t the time to drop your guard. Potential risks Your
Sep 18, 2019
Protect your nonprofit from occupational fraud threats
- By Ellenbogen
- Fraud, Non-Profit
- 0 Comments
Many not-for-profits increase their occupational theft risk by devoting too little of their budget to internal controls, placing excessive trust in staffers and volunteers and failing to punish fraud perpetrators appropriately. Board members who lack the financial knowledge to spot irregularities are another risk. Because your organization likely can’t afford any fraud losses, you need
Jul 25, 2019
Cover all the bases with a background check
- By Ellenbogen
- Fraud
- 0 Comments
Background checks don’t inoculate companies against occupational fraud. After all, many thieves have never been caught. Yet these procedures remain critical to fraud prevention. Before conducting checks, obtain written authorization from the job applicant. Depending on the position, you might contact former employers, verify education and professional certifications, and review criminal, credit and driving records.
Jan 16, 2019
Stop receivables fraud before it starts
- By Ellenbogen
- Business, Fraud
- 0 Comments
From invoices and payments to discounts and write-offs, many business transactions are recorded to accounts receivable. This makes receivables a popular fraud target. But your business doesn’t have to become a victim. Common schemes Receivables fraud occurs when dishonest employees divert customer payments for their personal use. They use various methods, including: Lapping. This is