Looking to invest? Don’t get caught up in something that looks too good to be true: something with lucrative – and quick – returns. Do your due diligence before committing financially. Global News reported on a Toronto-based mortgage firm facing two lawsuits after Peel Regional Police launched a criminal investigation. One investor indicated that he’d […]
Category: Blog
Protect yourself from investment fraud with these 4 tips
Investment fraud is easier to recognize when you know what it looks like. To protect your money and achieve your financial goals, it’s important to stay ahead of scammers. You can minimize the risk of falling victim to investment frauds by spotting common red flags, including: High returns with low risk. In general, higher-risk investments […]
5 scams that fool even the smartest victims – protect yourself
Think you can’t be tricked be the latest frauds and scams? Companies continually work harder to protect your data from attacks, but fraudsters are also working harder to access it, which can leave your personal and financial information at risk. Scams to Watch For: Home improvement scams The costs for renovations can add up quickly, […]
3 quick money lessons to teach your kids
We all want our kids to be safe, happy, healthy and successful. One critical way to help them have a great future is to teach them about finances and how to take care of their money and savings. Here are three lessons experts recommend sharing with your kids. Protect your information Bank accounts and credit […]
Financial statement fraud
Did you know that financial statement fraud accounts for only about 10 per cent of occupational fraud worldwide? However, it comprises the biggest loss, averaging around US$800,000 per incident. That’s according to the Association of Certified Fraud Examiners (ACFE). It’s a scary stat for businesses, since it’s difficult to detect and can be potentially devastating […]
Employee fraud: think before you fire
Fraud can happen in any company. Once it’s discovered the one thing not to do right away is to fire the suspected employee. Even though the first instinct would be to terminate the worker right away (whether with or without cause) or to pay them to leave can actually be counter-intuitive and you’d be better […]
Unearthing false claims of sexual harassment
False claims of sexual harassment seemed like an easy case, until we discovered information that the employer hadn’t been able to find. The case involved a woman’s claim of being sexually harassed in the workplace; she brought her complaint to human resources about a male coworker sending her lewd emails. She gave the HR department […]
Fraud’s most commonly found by whistleblowers
The top three categories of corporate fraud involve asset misappropriation, financial statement fraud and corruption. Financial statement fraud involves misstating the value of a company’s property, such as adding expenses or inflating a firm’s worth, and asset misappropriation involves theft of materials, money and ideas. The Association of Certified Fraud Examiners (ACFE) released a report […]
Internal auditors cant’ match fraud experts
Does your company have a crisis plan that be put into action quickly if internal fraud is suspected? Having a checklist of what you’re going to do if you discover fraud – or get notified by a whistleblower – is necessary. External auditors only locate about four to five per cent of frauds and about […]
Law Changes Impact Bribery
There are serious risks for Canadian businesses that pay bribes abroad, especially with the recent changes to the Corruption of Foreign Public Officials act. Amendments were made to the law, particularly the exception built in allowing “grease payments”. Big businesses that are caught will have significant ramifications, such as long-term bans from working on government […]