FORENSICS

3 Employee Fraud Red Flags

What is one of the things that most businesses, not-for-profit organizations, and governments have in common? Unfortunately, it’s susceptibility to employee fraud, for which these three employee fraud red flags should be helpful when trying to detect it. Why does this topic deserve your focus? Because according to the ACFE’s 2014 Report to [...]

March 4th, 2016|FORENSICS, VIDEO|

3 Tips for Deciding If Filing a Business Lawsuit is Worth It

Are you considering filing a business lawsuit? If so, then your first call should be to your CPA instead of your lawyer. Why? Litigation is expensive and it's important to estimate damages to determine if a lawsuit is cost-effective. Watch Miles Harper discuss three ways your CPA can help you determine the value [...]

February 10th, 2016|FORENSICS, VIDEO|

Tackle Tax Return Identity Theft by Filing Early

For many, January is a month of reflection: what goals do I want to accomplish in 2016? And, for some of us,  will my fantasy football team selections result in the big payoff? But as the fantasy football season winds down, the IRS is suiting up to tackle a major uptick in tax return identity theft [...]

January 29th, 2016|FORENSICS, JANUARY 2016|
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Use Fraud Warning Signs to Deter It

The average business loses 6% of their revenue to fraud every 18 months. How can your business deter employee fraud? Watch Mike Scott and Tommie Singleton discuss fraud warning signs and the importance of management's role in fraud prevention.

January 20th, 2016|FORENSICS, VIDEO|

Fraudster Profile

Can you spot a fraudster? Probably not. Fraudsters don't look like criminals. They look like your next door neighbor. Watch CRI's Tommie Singleton discuss the profile of a fraudster.

December 16th, 2015|FORENSICS, VIDEO|

8 Steps for Cleaning Up a Tax Return Identity Theft Train Wreck

When it comes to stealing individuals’ identities, criminals get more creative every day. Several clients have called us recently as they have received IRS letters asking questions regarding tax returns that they didn’t file. It usually turns out that a thief has stolen these clients’ identities and used the information to file fraudulent income tax [...]

August 1st, 2015|FORENSICS|

Choose Fraud Prevention and Don’t Treat Fraud as a Cost of Doing Business

In a downturned economy, businesses may not only be robbed blind, but also become blind to what is stolen. Whether the stolen assets include cash, products, raw materials, or personal property, many business operators are satisfied with what they consider an “acceptable” level of loss. If fact, they refer to this level as a cost [...]

May 26th, 2015|FORENSICS|

Occupational Fraud: Unearthing Common Types in Your Business

Spring has sprung! Green thumbs are seeing their careful planting, mulching, fertilizing, and watering come to fruition in the form of tulips, lilacs, daffodils, and hyacinths. At the same time, black thumbs (“wannabe” gardeners who kill plants) are admiring these spring flowers – hopefully, from a safe distance. Green thumbs are acutely aware of the [...]

May 25th, 2015|FORENSICS|

Reading the Tea Leaves: 3 Employee Fraud Signs

Employee fraud almost always exhibits red flags. Sometimes those red flags go unnoticed, but that does not have to be the case. Individuals with fiduciary responsibilities can learn to recognize some of the common red flags that may indicate fraud. The Employee Fraud Signs  or Red Flags Large Items in Account Reconciliations First, account reconciliations [...]

April 24th, 2015|FORENSICS|

3 Corporate Identity Theft Truths Unmasked

For a business, theft isn’t just about the unlawful acquisition of physical assets; it’s also about the pilfering of ideas, plans, and confidential data—all of which can have income potential unrivaled by that of tangible goods. And while the thought of theft may conjure images of masked, tiptoeing, trench-coat-clad thieves, the truth is that with [...]

May 25th, 2014|FORENSICS|

Starting the Conversation: Tax Return Identity Theft Protection

The IRS isn’t traditionally big on conversation—in the form of emails, phone calls, candy hearts, or otherwise. However, believe it or not, confusion over communications with the IRS can lead to tax return identity theft. Say the words “identity theft,” and many people envision a criminal stealing their Social Security number (SSN) and wreaking havoc [...]

February 1st, 2014|FORENSICS|

The Mirage of Identity Security & Theft Where You Least Expect It

Many of us have been an identity theft victim after handing over a credit card to a retail associate or inadvertently clicking a link in a phishing scam. So with awareness and protective measures increasing, identity thieves are becoming more creative. Now identity theft occurs in seemingly innocuous settings where we often assume personal data is [...]

June 24th, 2013|FORENSICS|

You’ve Discovered Employee Theft. Now What?

Employee theft accounts for billions of dollars of lost revenue nationwide. Once a company detects theft, it is critical for the organization to investigate the matter promptly and hire an outside consultant to conduct an unbiased audit. Here are some basic guidelines for responding to employee theft: Don’t fire the employee on the spot. If [...]

May 17th, 2013|FORENSICS|

How to Target Falsified Invoices

Although the target is sometimes crystal clear, other instances require paying close attention to clues. Such is the case with detecting fraudulent activities. A recent study by the Association of Certified Fraud Examiners (ACFE) found that U.S. companies lose about 5% of their revenues to fraud. With the average fraud going undetected for 18 to 24 [...]

July 29th, 2012|FORENSICS|

The Early Bird Catches the Fraudster: Using Vendor Credentialing to Combat Fraud

High profile fraud activities—mainly in the form of security hacks and employee theft—are featured prominently in our news outlets. While vendor fraud is not as commonly discussed, it is just as much of a threat or risk (and, in fact, is a greater opportunity) to financially damage a business. While it doesn’t actually require rising [...]

June 24th, 2012|FORENSICS|

3 Common Types of Employee Fraud

There is much more to fraudulent activity than luck and random chance. In fact, fraudulent activity is on the rise due to the current economy. This scenario is especially true for employee fraud. In this post, we will explore the three most common types of employee fraud so that you can be on the lookout [...]

May 30th, 2012|FORENSICS|

What You Don’t Know Could Hurt You

The title of this post may be an adage, but nothing could be farther from the truth when it comes to employee fraud. Furthermore, there is a recession still going on, and conventional wisdom suggests that more employee frauds occur during poor economic times. So what don’t you know? We’ll tell you. 1. Perpetrators of [...]

December 1st, 2011|FORENSICS|

Create an Anti-Fraud Program with These 10 Steps

Think back to the last news story you remember involving employee fraud. Were you amazed that they were able to embezzle that much money, seemingly undetected? Unfortunately, the business on the evening news lacked strong internal controls - and likely many other steps of an anti-fraud program. Therefore, the opportunity for fraud presented itself. To [...]

October 7th, 2011|FORENSICS|

The Converging Elements of Employee Fraud

The three key elements of employee fraud – as with most types of fraud – are motivation, opportunity, and rationalization. When these factors converge, white-collar criminals often emerge—and they vary considerably from the average criminal. Fraud perpetrator profiles defy criminal profile stereotypes. For example, white-collar employees who commit fraud most likely meet these criteria: They [...]

May 27th, 2011|FORENSICS|

Clues for Understanding Falsified Invoices

In a previous article, we reported that a recent study by the Association of Certified Fraud Examiners (ACFE) found that U.S. organizations were losing about 5% of their revenue to fraud. One of the most frequent ways that fraud occurs is through falsified invoices. Red Flags Fortunately, there are some common red flags that signal [...]

April 25th, 2011|FORENSICS|