fraud

Is “Trust” a consideration in designing and implementing internal controls?

When I am working on evaluating, designing and implementing internal controls and accounting procedures within client organizations to minimize the risk of employee theft and embezzlement, I am frequently asked why certain measures are needed, given that a certain individual works within a position.  The individual is often described as a long-term, honest, loyal, dedicated and trustworthy employee who would …

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ATM cards… did you know?

I while back after falling victim of yet another debit card violation, I destroyed my debit card, and reverted back to traditional credit cards.  I also requested and received a traditional, plain Jane ATM card (just like the ones that were originally issued and only worked at an ATM).  The first request of my bank resulted in my receiving a …

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Documents and Images – “Live or Memorex”?

A few years back (maybe dating myself) Memorex ran an ad campaign whereby they proclaimed their recordings were so realistic  it was hard to tell if it was live or recorded.  Funny how successful advertising lines can stick with you for life. As newer technology has become available, more information has shifted into the digital world, including video, audio or …

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Here, There, and Everywhere: Embezzlement is BIG Business, and Business is Good.

Just read the following headlines for a mere sampling of the hundreds of articles appearing online in only the past two weeks: Ex-ICE Intelligence Chief Pleads Guilty to Embezzlement Dixon, Illinois Comptroller Allegedly Embezzled $30 Million To Fund Horse Breeding Business State of Okla. charges former, current City of Cleveland employees with embezzlement Jail for woman accused of embezzling from …

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Another Case of Irony (steal from the poor to get rich)

A case of reverse Robin Hood – steal from the poor to become rich. “Kentucky woman pleads guilty to embezzling from Little Sisters of the Poor, Facing Prison Time.”“A former bookkeeper for the Little Sisters of the Poor pleaded guilty Monday to embezzling more than $300,000 from the charity and using the money to buy herself a new car, among …

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