Business

Dhrendra Prasad, formerly employed as a buyer for Apple’s global service supply chain, has been sentenced to three years in prison as of November 2022. While employed between the years of 2008 to 2018, Mr. Prasad admitted in his plea agreement that he defrauded his employer since 2011 by diverting funds to himself totaling $17...

In the spirit of the spooky season ghosts, goblins and witches come to mind, but one thing we do not think of is a thief. This was not the case for Mr. Ronald J. Bally.   In 2019 Mr. Bally was convicted of stealing Halloween costumes valued at over $200,000.00 from the SpookShop. 

Mr. Bally began...

In March 2020, business travel grinded to a halt. As the COVID-19 pandemic spread across the globe, 86% of people surveyed by TravelPerk, a business travel management company, cancelled their plans for business travel due to flight restrictions, travel bans, and lockdowns. The trickle-down effect of cancelling flights impacted the entire travel and hotel industry.

Employee theft is a pressing issue that affects various industries, including the bicycle sector. While bicycles bring joy and convenience to many, they have unfortunately become a target for employee theft. The loss of valuable bicycles not only impacts businesses financially but also undermines customer trust and disrupts the cycling community. 

The bicycle industry has...

May is Mental Health Awareness Month, an opportunity to raise awareness and reduce the stigma around mental health issues. While mental health should be a priority year-round, this month is an important reminder to take steps to support the mental health and wellbeing of our colleagues and employees. One of the key places to start...

“There is a void in the English language which we undertake to fill,” wrote a journalist from a Massachusetts newspaper in 1901. “Everyone has been put in an embarrassing position by ignorance of the status of some woman. To call a maiden Mrs. is only a shade worse than to insult a matron...

On March 8, 2017, the Wall Street Journal published an article about KPMG being under fire for scandals in the U.S., South Africa, and the U.K. Although KPMG does face trouble on three fronts, the scandals involve three legally separate firms:

• KPMG, LLP, a New York-based U.S. partnership, is dealing with the indictment of...

The case Medidata Solutions, Inc. v. Federal Ins. Co. involved a fraudulent impersonation scheme and an alleged entry into the insured’s computer system. The case involved a series of events seen all too often. The court’s ruling presents a peek into the intricacies of analyzing coverage in traditional computer fraud claims. It is important to...

Since May 2000, the FBI’s Internet Crime Complaint Center (IC3) has received more than 4 million complaints. Incidences of internet crime are steadily increasing. In 2013, IC3 received 262,813 complaints, with a reported loss amount of $781.8 million. In 2017, IC3 received 301,580 complaints, with a reported losses of $1.4 billion.

Tracking the Trends

IC3...

The 2018 Global Study on Occupational Fraud and Abuse is hot off the press – and it’s an important resource for anyone interested in occupational fraud. The report includes valuable information on how fraud is committed, how it’s detected, who commits it, and how organizations can protect themselves. Compiled by the Association of Certified Fraud...