StoneBridge Business Partners Fraud Article Library

"To most, it sounds like a television drama involving organized crime or narcotic dealers. But unsuspecting businesses may become victims..."

Read: Don't become a victim of 'underground economy'

"As the debate over national healthcare reform wages on, another topic has started to receive notoriety. Healthcare fraud is running rampant..."

Read: Businesses impacted by growing healthcare fraud

"Whether you're manufacturing cell phones, baby formula or healthcare products, product diversion within your distribution channel is a big problem today..."

Read: Developing and Implementing Distributor Audits

"One of the key elements to understanding fraud is to realize that where opportunities exist, perpetrators can act....."

Read: Increasing The Perception That Fraud Will Be Detected

"The Federal Trade Commission has reported that identity theft affects more than 9 million Americans annually. In response to this epidemic....."

Read: New Identity Theft 'Red Flags Rule' Begins

"It seems that with every economic downturn (or recession, if you will), Americans are introduced to a different type of fraudulent activity. It has been estimated that nearly 20%...."

Read: Fraud Du Jour

"As the economy continues to falter, Ponzi schemes nationwide have become exposed and revealed billions of dollars of losses for investors...."

Read: Protect Yourself: Don't be a victim of a Ponzi scheme

"As the economy continues to falter, your organization, like many others, may find itself more susceptible to fraud. It is estimated that U.S. organizations lose approximately...."

Read: Economic Hard Times: The Impact On Fraud

"Collusion accounts for as much as 40 percent of fraud, with median loss of approximately $485,000 – nearly five times that of crimes perpetrated by an individual alone...."

Read: Theft By Collusion: Five Times More Loss

"Forensic accountants stress that the best way to prevent fraud is to establish an efficient control system.
How much should you spend on such a system? What mechanisms have worked best for other companies?
And, perhaps, most importantly – What is the price of doing nothing?..."

Read: Employee Fraud: How much should you spend to prevent it?

"Every day, during the normal course of our lives, we encounter numerous controls or safeguards. Whether your place of work requires an identification badge or a key fob, a password to log onto your computer or an access code to use a copier, controls are a way of life....."

Read: Why Internal Controls - And Reviews - Are Needed

"In any kind of business that issues payroll checks to employees, the possibility of payroll fraud exists. There are various ways payroll fraud can be perpetrated. The Association of Certified Fraud Examiners 2006 Report to the Nation on Occupational Fraud and Abuse refers to payroll fraud as....."

Read: Payroll Fraud - how it’s done, how to prevent it

"A qualified CPA with litigation experience can be a great asset to your fraud case.  In searching for help, there are some important factors an attorney should consider....."

Read: Using CPAs in Fraud & Embezzlement Cases.

"Conducting a third-party or corroborative interview is a key step in most fraud investigations and should be conducted by experienced professionals.
There may be only one chance to interview an individual in an investigation, so investigators must make the most of it. It is important that a trained investigator conduct that interview...."

Read: Anatomy of an interview: How to best solicit the truth. Suspect interview should be conducted by professionals.

"A properly planned interview can yield much more than simply learning about a subject’s background information.
Techniques such as behavior analysis can be used to determine whether someone is being truthful or deceitful....."

Read: Anatomy of an interview: How to best solicit the truth. Verbal – and nonverbal – clues point to guilt.

"You may think your company is protected against fraud, but statistics say that as much as 10 percent of all fraud in the nation takes place in manufacturing companies. Approximately one-third of these cases involved fraudulent billing, according to the 2006 Association of Certified Fraud Examiners’ Report to the Nation on Occupational Fraud and Abuse...."

Read: Fraud: Safeguards Can Help Mitigate Risks

"The typical organization loses 5 percent of its annual revenues to occupational fraud, according to the Association of Certified Fraud Examiners 2006 Report to the Nation on Occupational Fraud and Abuse. Some industries are more susceptible than others. Do you know how your organization fares?..."

Read: Is Your Organization Susceptible to Fraud?

"Are you the proud owner or part owner of a medical office building, surgery center or other professional building? If you aren’t depreciating your property as quickly as permissible under current law, you may be grossly overpaying your federal income taxes. Cost segregation can help...."

Read: Money Could Be Hidden In Your Exam Room Walls

“The typical organization loses 6 percent of its annual revenues to occupational fraud, according to the 2004 Report to Nation on Occupational Fraud and Abuse, Association of Certified Fraud Examiners. A well-designed plan can help you maximize your recovery. ..."

Read: Your best options for getting your money back

“Auditor's routinely excuse themselves from the responsibility of detecting fraud, collusion in particular. It is difficult enough to uncover fraud when it is committed by an individual, but detecting a team of individuals working together to defraud an organization can be especially difficult. What steps can you take to detect and deter collusion?..."

Read: When there's a team effort to defraud

“The Association of Certified Fraud Examiners determined in its 2004 Report to the Nation on Occupational Fraud and Abuse that approximately 22 percent of all fraudulent disbursement schemes investigated involved expense reimbursement fraud. Keeping your organization safe from pilfering employees demand strong controls, tough actions against perpetrators and management leading by example..."

Read: Expense Reimbursement Fraud: Ten Ways to Protect your Organization

“Because credit cards are as liquid as cash, they are subject to risk. Theft or abuse by an unauthorized outside party is typically the first concern, but credit card abuse and fraud by those within an organization can also be a source of threat..."

Read: How to reduce the threat of internal credit card fraud

“More and more employers are learning that background checks are a necessity in their hiring practices. Simply confirming dates of prior employment isn't going to work for most companies today. Estimates are that nearly 10 percent of candidates applying for jobs have criminal violations, according to the Northeast Human Resource Association. As exemplified by the company featured in the associated case study, failing to adequately scrutinize new hires can have disastrous results. What precautions should your organization implement? . . ."

Read: the Background Checks article.
Read: There's more to background checks than calling references

“Even the most trustworthy of employees can succumb to pressures and commit fraud against the company. Stock market losses, a spouse’s disability, college tuition and unexpected expenditures can all lead to unavoidable pressures on your employees . . . “

Read: Detecting Fraud When Good Employees Go Bad

“You may think your nonprofit organization is protected from fraud. Maybe you should review the status of your internal control systems to be sure.

Internal controls are the safeguards put in place to protect an organization’s assets. Nonprofits face special challenges in this area . . .”

Read: Nonprofits Face Special Challenges in Protecting Against Fraud

“It’s been said ‘cash is king.’ This is especially true for perpetrators of fraud. But businesses beware: You can become a victim of fraud when no cash is involved. Check tampering, billing schemes, payroll schemes . . ."

Read: The Most Common Disbursements of Fraud

”When a fraud is suspected, organizations must proceed quickly, yet with caution. In most situations, simply calling the local police won’t help . . . ”

Read: Investigating an Allegation of Fraud

“It is in everyone's interest that no one be allowed to cheat the system. Moreover, even the compliant franchisee will get direct benefits from an audit because auditors can pass along information that can assist the franchisee in improving its operations, including issues such as internal theft, weak internal controls, and out-of-line operational costs..."

Read: Developing and Implementing Franchise Audits