In April 2018, an employee of the Texas juvenile justice department was sentenced to 50 years in prison for stealing $1.2 million in meat for fajitas over the course of two years. This case is an informative example of inventory theft, particularly for the food service industry. Diverting Inventory Gilbert Escamilla, the Texas man who […]
Al Capone was the infamous head of Chicago’s organized crime during the Prohibition Era. Capone and his gang practically ran the city with their bootlegging, gambling rings, prostitution, speakeasies, and propensity for killing off the competition. Their criminal ventures amounted to an estimated $100 million per year. Despite his infamy and flouting of the law, […]
Winter Storm Uri, the major winter storm of mid-February 2021, set more than 2,000 cold temperature records and blanketed a record 73% of the United States in snow, according to Air Worldwide. Beyond its record-setting scale, the storm devastated Texas and led to billions of dollars in losses. Sources of Loss According to Moody’s Investor […]
Online dating has become enormously popular, with couples meeting on social media and dedicated dating sites and apps. According to a 2019 Stanford study, 39% of heterosexual couples met online rather than though a personal connection. As more people look to the internet to find love, scammers are waiting to fake their way into individuals’ […]
The ancient Mesopotamians are credited with a number of remarkable advancements in human history. The economic development of ancient Mesopotamia was unique, and centuries ahead of many of its contemporary civilizations. Mesopotamia’s climate, fertile land, and proximity to rivers enabled their society to develop the crop surplus that led to not only the profession of […]
The Coronavirus Aid, Relief, and Economic Security (CARES) Act, introduced in March 2020, aims to help people facing financial losses from the COVID-19 pandemic. In December 2020, the CARES act was expanded to include the Paycheck Protection Program (PPP), an initiative that offers loans to businesses struggling during COVID-19. On February 16, 2021, the Associated […]
During the COVID-19 pandemic, the switch to largely remote workplaces has been dubbed “The Great Work-from-Home Experiment.” The transition to virtual work has introduced a number of challenges in terms of organization and workflow, but one of the less obvious problem areas is employee morale. Morale is critical for productivity, retention, and communications. Without the […]
The dramatic increase in unemployment identity theft fraud during 2020 serves as a wake-up call for the potential for fraud in the 2021 tax season. With the frequency of data breaches and common use of Social Security Numbers for identification, experts at the Identity Theft Resource Center believe thieves already have the information they need […]
Senior citizens have long been targeted by scammers who may take advantage of their trust, needs, and limited technological proficiency. According to Medical Alert Advice, an organization dedicated to seniors’ well-being, “20% of Americans who are over 65 have been financially taken advantage of and over 80% of telemarketing scams prey on victims over the […]
During the COVID-19 pandemic, shelter-in-place orders and business’ reduced operating capacities have forced many individuals to rethink their routines. As people try to reduce in-person contact, the already increasing segment of customers using digital bank apps has surged. Currently, approximately 60% of customers use digital banking apps rather than visiting a bank’s physical location, according […]
As diversity remains a hot-button issue in the field of accounting and beyond, one often overlooked aspect is the hiring and inclusion of individuals with disabilities. Extending diverse hiring practices to individuals with disabilities and individuals on the autism spectrum, a practice known as neurodiverse hiring, can yield fantastic results for accounting firms. Reaching New […]
There is perhaps no better time for retailers to evaluate their return policies than the lull following the holiday season sales surge. In particular, retailers should assess their vulnerability to return fraud. According to the National Retail Federation, retailers lose $18.4 billion annually to fraudulent returns. This significant amount points to a serious problem; retailers […]
Recent Comments