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Business owners who suspect fraud is being committed by someone in their organization might be forgiven for believing their story has just become a tragedy. Trust is, after all, the backbone of any successful business, and discovering fraud can shake an owner’s faith...
The threat posed by rogue employees is real—and expensive. Every year, five cents of every dollar a business earns is stolen by internal fraudsters, according to data from the Association of Certified Fraud Examiners, with the average loss from a fraud case now...
Recently, our team completed a significant financial fraud investigation for a small business that fell victim to the three-headed monster of employee fraud, waste, and abuse. Investigating this employee embezzlement case reminded us once again that—though the...
The Ponzi scheme just won’t go away. In fact, fraudsters have been particularly adept at updating their schemes with new technology and new pitches to potential victims—a fact that further complicates the ability of legal professionals to investigate and...
Some workplaces operate as if they are fully engulfed in a five-alarm fire. Employees consistently scramble to meet deadlines, the team is stressed, the work is intense, and far from helping to put out the blaze, managers contribute to the disarray with poor...
While building trust with your team is fundamental for a small business owner, it's important to be vigilant. Think, “Trust but verify.” Employee dishonesty isn’t just about obvious behavior, like stealing office supplies or embezzling money, it can include any number...
For a decade, Dhirendra Prasad worked primarily as a buyer in Apple Inc.’s Global Service Supply Chain department. As far as Apple was concerned, Prasad’s job was helping buy parts and services to repair older devices. Trusted and well-paid, the 50-something...
Economic turmoil can create a perfect storm for employee fraud, as companies sacrifice compliance activities to save money, and financial insecurity and temptation among workers increase. To protect your business from potential fraud, it’s important to be aware...
Artificial intelligence (AI) has the potential to transform the way we do business, making companies, as The Economist once put it, “swifter, cleverer, and leaner.” Unfortunately, legitimate businesses aren’t the only ones with access to AI tools. As financial...
The long-running financial fraud investigation and subsequent criminal cases involving Theranos Inc. offer a cautionary tale on how easily investors and stakeholders can be deceived by company insiders. Theranos founder Elizabeth Holmes raised more than $700...
In a financial fraud investigation, using technology to marshal big data can be a major help. But it’s just one piece of the puzzle. To complete the picture, a fraud investigator must rely on information gathered from a disparate array of sources—everything from...
It may be the most wonderful time of the year for sales and profits, but if you are not on the lookout for fraud-minded employees, your business may end the holiday season with far less silver and gold in its stocking. The holidays, in fact, are a prime time for...