Category: Money

  • Three Strikes…You’re Out

    June 23, 2023
    At a Little League game, you usually think about bases being stolen, not cash. Unfortunately, the same volunteers selling hotdogs and cotton candy at the concession stand may also be taking advantage of their volunteer position and stealing. One woman recently pocketed more than $2,000.00 from the team’s concession stand.
  • Home Sweet Home

    November 15, 2017
    Sunset Villas is a condominium complex with fifty units on the shores of Lake Michigan. Owners pay $550.00 a month in dues towards neighborhood and maintenance, including the upkeep of the pool and common areas. When the owners hired a property management company, they didn’t realize Sunset Villas was a tempting, lucrative target. Homeowners associations are often victims of misappropriation by property managers, due to having relatively large amounts of monies and lax, volunteer boards responsible for accounting and control. One…
  • The Person in the Middle Scheme

    August 3, 2016
    In Asia, there is a popular fidelity claim involving the person-in- the-middle scheme. These schemes have increased as more foreign companies enter the market in Asia due to the rapid economic growth and significant consumer market. Language differentials, lack of access to sales channels, requirements of joint ventures, ownership and control by citizens of the country make these schemes popular. The Types Generally, there are two types of person-in-the-middle schemes. The first type of scheme involves the foreign company selling…
  • Preventing Fraud

    September 12, 2013
    Business owners are becoming increasingly aware of numerous schemes they and their employees need to avoid. Cyber fraud lurks in many different forms, including, but not limited to: Auction Fraud Investment Fraud Counterfeit Cashier's Check Lotteries Credit Card Fraud Nigerian Letter or "419" Debt Elimination Phishing/Spoofing Parcel Courier Email Scheme Ponzi/Pyramid Employment/Business Opportunities Reshipping Escrow Services Fraud Spam Identity Theft Third Party Receiver of Funds Internet Extortion Compounding matters is the fact that businesses and employees often receive hundreds of…
  • Payroll Companies, CPAs and Management Companies

    August 27, 2013
    Running a business can be complicated and overwhelming. Owners face daily decisions. Human resources and staffing. Technology and marketing. Financial and legal. When grappling with such issues, many owners of small or middle sized companies opt to outsource their payroll processing and accounting. They turn to payroll and management companies and CPAs. Such companies offer several advantages, but hidden disadvantages can lurk under the surface Payroll companies manage the payroll process from beginning to end and alleviate the need for…