Forensic Accounting Services, LLC
Piecing Together Financial Puzzles®
As reported in the Journal Inquirer June 28, 2010, Connecticut joins the growing list of states and cities adopting what is termed the “ban the box” movement within the hiring process. The box the article is referring to is on the job application completed by each candidate. The question asks if the candidate has ever been convicted of a crime. …
The answer is yes, most employee embezzlement schemes can be prevented. There are practical measures any employer of any size can implement to prevent employee thefts and embezzlement. However, due to the very nature of fraud, creative employees working within an environment constructed with ineffective or non-existent internal controls, or worse, complacent supervisors and owners who simply do not perform the …
Credit and debit card skimming has been happening for several years now. It has evolved over time from dishonest employees skimming your cards at your favorite stores and restaurants, to more sophisticated means – such as attaching skimming devices to ATM machines and the lock systems that allow you access to the ATMs. It is well known that purchasing gas …
I have posted previously on the importance of every employer to ensure employee dishonesty, employee fidelity and/or employee crime coverage is included within your current policies. Often this policy is the only means for recovery from an employee theft. Even if coverage is maintained, I am confident most insureds are unaware of two common limitations within the coverage should there …
Much media attention has been devoted to the changes coming in February 2010 regarding credit card policies, changes in interest rates, and overdraft charges. Many banks have been making rapid changes to existing credit card holders’ accounts, increasing rates and lowering limits, in preparation for the imminent changes enacted last fall by legislation. You need to read the notices and …