Collaborative Law – Nigerian Letter Scam
There is a new version of the Nigerian Letter Scam targeting law firms with the promise of work in collecting unpaid amounts in Family Law Collaborative settlements.
Payroll Fraud
The payroll is the largest expense area for many organisations, and one which should be controlled carefully. Nevertheless, payroll fraud accounts for 17% of all fraudulent disbursements suffered by organisations. There are three main types of payroll fraud – Ghost Employees, Overcompensation, and Bonus and Commission Schemes.
Employee Fraud: High Risk but Low Priority?
One of the key tasks for managers of organisations is to reduce the risk of events which will affect the ability of their organisation to achieve its goals. These include risks in the areas of occupational health and safety, finances, market and competitors, supply, compliance and regulatory, currency, professional, disaster and fraud. Managers are usually proactive in reducing all of these risks – except fraud. Why is this?
Accounting – The Language of Business
All business owners, no matter what size their business, need to understand the language of business … accounting.
Accounting can be simply described as keeping track of money. But the real benefit of accounting comes from understanding the relationships between the profit & loss statements, the balance sheet and cashflows.
Internet Banking Fraud – Clive Peeters Case
One of the most common forms of employee fraud that we have been seeing for quite some time involves access to internet banking. Businesses often have two signatories for company cheques but allow full single user access to their internet banking. The result is an accident waiting to happen.
An internet banking fraud of $20 million was reported today in the Sydney Morning Herald involved the payroll manager of listed white goods retailer, Clive Peters.
Detecting Purchasing Fraud
I thought that we should look at purchasing fraud, which covers purchases made by employees on company credit card or company account.