Forensic Accounting Services, LLC
Piecing Together Financial Puzzles®
Payroll fraud schemes have been coming up second to thefts of cash receipts in my experience. Here’s one from this week. It appears she has stolen from four different employers. Thursday, October 23, 2008KC woman gets five years for embezzlementA Kansas City woman was sentenced Thursday to five years and five months in federal prison for embezzling from two former …
For any Connecticut folks, just how was the weather this past Saturday night? Bet you were warm and dry inside waiting for it to pass. Not this Boy Scout dad. My first scouting weekend, in a borrowed tent, sleeping on the comfortable ground, in late October in New England. I wasn’t expecting to appreciate anything but my warm bed when …
Studies upon studies have attempted to identify a description of the candidates likely to embezzle your organization’s funds. Now here’s a story that finally nails it down. The Chronicle of Philanthropy, April 3, 2008. “Most Cases of Charity Fraud Could Be Prevented, Study Finds” Citing the Association of Fraud Examiner’s 2004 fraud survey, the article states the typical non-profit fraud …
Employees stealing customer payments and other receipts has been the hottest area for employee thefts in my past few years experience. Here’s yet another example. Setting up a bank account in the name of your employer, or a name similar to your employer, at a bank not used by your employer, is a common method for employees with access to …
What do these all programs have in common? They are all major fundraisers, as well as major sources of funds. All three programs generate significant cash sales each year at the local, state and national levels. Handling and tracking the collected cash is always subject to volunteers, with the risk they may have sticky fingers.Proper controls are not difficult to …