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As a forensic accountant who specializes in financial fraud investigations, I have seen numerous examples of caregivers exploiting elderly clients and manipulating them for personal gain. I call it “legacy larceny” — fraud by caregivers who target elders and...
Even at a time when 9 out of 10 Americans have adopted some form of digital payment, the old-fashioned paper check remains a critical financial tool. In fact, recent surveys show that nearly 40 percent of U.S. businesses still use checks for payments to vendors....
The fraud triangle is a framework used by anti-fraud professionals that helps explain the motives behind deceitful actions. For attorneys and CPAs who are helping their clients search for answers, the fraud triangle may serve as a powerful tool to help them...
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...
At many small businesses, it’s not uncommon to still find a mass of paper records, yellowing with age and haphazardly tossed in boxes, as well as old-school computers and dot-matrix printers with tractor feeds and green bar paper. Yet even the most unorganized and...
A do-it-yourself approach may work well for repairs around the house, but for CPAs conducting a financial statement audit, engaging specialized forensic accounting services to help design an audit to detect fraud can help avoid a career-damaging DIY disaster....
A forensic examination can yield a mountain of data from a variety of disparate sources that can help expose wrongdoing and provide hard evidence critical to proving (or disproving) a case. But gathering and analyzing the data is just one part of the task. What...
Time off isn’t just a necessity to help employees recover and regroup, it’s also an opportunity for an organization to measure its efficiency and to uncover vulnerabilities it may face from fraud, waste, and abuse. Here are just a few of the ways an organization can...
Fraudsters often believe they have covered their tracks so well that their activity is untraceable, but they are increasingly running into a significant obstacle when attempting to hide their crimes: Their digital footprint. During the last decade, people have...
At many small businesses, it’s not uncommon to still find a mass of paper records, yellowing with age and haphazardly tossed in boxes, as well as old-school computers and dot-matrix printers with tractor feeds and green bar paper. Yet even the most unorganized and...
Despite the distractions and upheaval the Covid-19 pandemic has had on your business, be careful not to overlook another threat that could be looming around the corner — fraud in the workplace. Occupational fraud is the misuse of one’s occupation for personal gain and...
An estate executor audit can become necessity at some point. An all-too frequent concern for people who are no longer managing their own finances: Are they being taken advantage of by a trustee, executor, or attorney-in-fact—and what can they do to spot and prevent...