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How experts use tax returns to find hidden assets

Business owners engaged in fraudulent activities often try to manipulate their companies’ financial statements. Fortunately for fraud experts, business owners’ tax returns aren’t as easy to misrepresent. Here’s how experts use them to locate hidden assets and income.   Read More  >>

How gift card scammers target companies — and what you can do

Gift cards offer businesses a convenient way to reward employees and thank customers. However, as the FBI recently warned, gift card scams specifically targeting companies are on the rise. Since January 2017, losses from such fraud schemes have surpassed $1 million. Here’s what you need to know to avoid being cheated.   Read More  >>

Striking a balance between fraud prevention and employee privacy

The expense of preventing fraud is minimal compared to the cost of cleaning up after fraud has been committed. One common fraud deterrent is to monitor employees on the job. But are you legally entitled to monitor employees? The answer is “sometimes.” One thing is certain: You must follow current employment law to the letter.   Read More  >>

How lifestyle analysis helps find the money

A business owner first became suspicious when one of her managers bought an expensive boat that seemed beyond his pay grade. A closer look at the employee and his department revealed sloppy record keeping and financial discrepancies. Was he stealing from the company?   Read More  >>

Skimming: Stealing a little off the top

Skimming is the theft of cash receipts. It occurs when an employee steals an incoming payment before it’s recorded on the books. Let’s look at how this fraud scheme works so you can prevent it from happening to your company.   Read More  >>

Know-your-customer programs aren’t just for banks

To help fight crime, including terrorism, money laundering and identity theft, federal laws and regulations require banks and other organizations to “know” their customers.   Read More  >>

Can you trust your business’s bookkeeper?

The bookkeeper is one of any company’s most trusted employees. Unfortunately, that trust isn’t always deserved. Bookkeepers — particularly those in small and midsize businesses — are ideally positioned to embezzle from their employers.   Read More  >>

Blockchain may soon drive business worldwide

“Blockchain” may sound like something that goes on a vehicle’s tires in icy weather or that perhaps is part of that vehicle’s engine. Indeed it is a type of technology that may help drive business worldwide at some point soon — but digitally, not physically. No matter what your industry, now’s a good time to start learning about blockchain.   Read More  >>

Fighting fraud with everyday accounting tools

When thinking about the ways financial experts can uncover fraud, what usually comes to mind are data analysis and other forensic accounting techniques. But qualified experts also keep everyday managerial accounting practices in their fraud toolkit.   Read More  >>

Ghost employees may be haunting your payroll

Matt was a trusted long-term employee who, unfortunately, was deeply in debt. Recognizing that his company’s payroll controls were loose enough to be exploited, he put a “ghost” employee, “Scott,” on the payroll, opened a bank account in Scott’s name and arranged for direct deposit of Scott’s paychecks.   Read More  >>