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4 Steps to Restoring Your Organization's Reputation After Financial Fraud
Posted by John Mulvaney on Mon, Sep 10, 2018 @ 06:15 PM

As any business leader whose organization has been victimized by a significant fraud can attest to, the impact of such an event and the effect it has on the organization can be paralyzing. First, there’s the obvious financial impact. According to the Association of Certified Fraud Examiner’s (ACFE) 2018 Report to the Nations, the recent study of 2,690 of fraud cases resulted in estimated losses of $7.1 billion, which the ACFE acknowledged is only a fraction of the true cost of global fraud. The study concluded that the median cost of fraud to victim organizations is approximately $130,000, while approximately 24 percent of the fraud cases it studied exceeded $800,000. Further, these costs do not include the cost of attorneys, forensic accountants, and other specialists who will be called upon to assist with the investigation.

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Topics: fraud, John Mulvaney, reputation, financial fraud, ACFE

How Your Identity is Being Protected This Tax Season
Posted by Cap Willey on Fri, Mar 24, 2017 @ 08:20 PM

Tax-related identity theft continues to disrupt the orderly administration of tax return filings and refund payments and was poised to reach an all-time high last year. Reports of cybercriminals using fake emails and other phishing tactics to surreptitiously acquire taxpayers’ personal information spiked early in the 2016 tax season. By mid-February 2016, the number of reported phishing and malware schemes exceeded the entire number of incidents reported in 2014.

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Topics: fraud, Cap Willey, IRS, tax fraud, Grafton Cap Willey, identity theft

10 Tactics to Help Your Not-for-Profit Organization Avoid Employee Fraud
Posted by Carl F. Jenkins on Mon, Jan 21, 2013 @ 09:34 AM

Not-for-Profits Often More Vulnerable than For-Profits

Author: Carl F. Jenkins, CPA/ABV, CFE

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Topics: fraud, Carl F. Jenkins, employee fraud, non-for-profit, Non-profits

Forensic Accounting Guidance: 12 Simple Steps for Preventing Employee Fraud
Posted by Carl F. Jenkins on Mon, Apr 16, 2012 @ 09:19 AM

Author: Carl F. Jenkins, CPA/ABV, CFE, MST – Managing Director

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Topics: Forensic accounting, employee theft, fraud

Preventing Fraud: Tips for Business Owners
Posted by Chrissy Hammond on Wed, Feb 1, 2012 @ 12:07 PM

All businesses, no matter the industry or size, can be targets of fraud. However, small businesses tend to have disproportionately large losses from asset misappropriation, and are far less likely to recover from fraud. They often employ friends, family members, and other “trusted individuals,” and rely on personal trust rather than systematic internal controls to protect them from fraud. Trust, without internal controls and checks and balances, is a recipe for employee theft. Often, the very traits that invoke management to rely on a trusted employee without checking his or her work make fraud possible. Remember, you can’t steal from people who don’t trust you.

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Topics: employee theft, fraud, employee fraud, embezzlement, business fraud

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