January 27, 2020 is a big day. It’s National Chocolate Cake Day, Bubble Wrap Appreciation Day, and the ever popular Tax Identity Theft Awareness Day. The IRS has observed Tax Identity Theft Awareness Day since 2014 in an effort to bring awareness to an ever-increasing problem. So, while you’re celebrating with a slice of cake […]
A company files a claim contending a warehouse manager stole $450,000.00 in inventory. The manager, a long-time employee, was trusted with keys and alarm codes. He was able to enter the warehouse after hours and remove pallets of product. The company contends the theft occurred over a 12-year period. When confronted with an inventory loss […]
When a business files an inventory loss claim, we often jump to the conclusion fraud is the cause of the loss. But fraud it isn’t always the reason behind the missing items. Several variables make it difficult to measure inventory accurately: complex production processes, varied accounting methods, and the sheer volume of items. As a […]
“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 with the […]
In 1986, U.S. Congress enacted the Computer Fraud and Abuse Act (CFAA), The CFAA was enacted to combat various types of “computer crime.” The Act criminalized, among other things, the act of intentionally accessing a computer without authorization. In 1986, this meant “hacking or trespassing into computer systems or data.” The CFAA has been expanded […]
Employee theft and employee dishonesty cases can follow similar patterns. Employees often steal merchandise, cash, or make personal purchases using company credit cards. But some cases stand out either because of the amount of loss or the method of misappropriation. Here are five over-the-top examples of in-house theft and employee fraud: The Jury Duty that […]
High-end jewelry and precious gems top the list of targets for organized and opportunistic criminals. Grab-and-run losses are all too common in the jewelry industry. Jewel thieves typically use overt and covert surveillance to gather intelligence before committing their crime. They rely on speed, distraction, store layout, and lax security procedures. While it may be […]
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 former […]
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 […]
No company wants to become the next Sony or Target. Hacks affecting high-profile companies have caused major headlines and businesses have become increasingly wary. Data shows phishing emails are often the entry points for hackers. Employees who click on links in scam emails could potentially unleash malware or provide access to fraudsters. Canada ranks second […]
At today’s convenience stores and gas stops, customers can fuel their cars, pick up a quick snack or cup of coffee, and take a chance at winning millions. Convenience stores and gas stops make a steady income from the sale of lottery tickets and online lottery sales. The lottery sales are also a draw to […]
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