Category: Blog

5 scams that fool even the smartest victims – protect yourself

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

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

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

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

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

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

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

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 […]

Saving the Evidence is Key in Suspected Fraud Cases

Saving the Evidence is Key in Suspected Fraud Cases

If your organization has a strategy in place to deal with suspected fraud, you’re ahead of the game over those that suddenly come face to face with it. Preserving evidence is key, though this can be a challenge without a proper strategy. Companies also have to decide what to do with the suspect(s) involved during […]

Prosecuting internal fraud

Prosecuting internal fraud

Would it surprise you to think that prosecuting workplace fraud is actually one of the best ways to discourage it? We were able to uncover a theft of $450,000 for an insurance company. The account director had come across something that didn’t seem right, which he discovered during the company’s fiscal year-end. He’d decided to […]

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