Financial institutions, investment service organizations, insurers, and creditors typically are required to implement and follow “know your customer” (KYC) policies as part of a larger scale anti-money laundering (AML) effort.
When employees commit fraud, they generally try to keep the schemes going as long as possible by hiding their illegal activities from others. The success of these thieves depends primarily
If your organization suffers losses due to fraud, you may decide to pursue legal action, possibly to be compensated for damages. But, quantifying fraud loss can be difficult. Typically, the
Many organizations show support to their communities by donating to local charities. While there are plenty of non-profits that are worth supporting, there are some that exist solely to pull
Operating your organization across multiple locations poses unique challenges in regard to fraud loss and prevention. You can’t be everywhere at once, so monitoring becomes increasingly difficult with each additional
While financial statement fraud accounts for only nine percent of occupational theft incidents, it costs organizations the most in financial losses, according to the Association of Certified Fraud Examiners. Organizations
Even without the threat of fraud, the restaurant business is tough. With typically slim profit margins, you can’t afford to lose any amount to fraudsters. Therefore, you should take steps
If you’re already familiar with artificial intelligence (AI) and its application in business, you might be interested in exploring generative AI (Gen AI). Gen AI is usually leveraged in crafting
Divorcing spouses, business partners at odds, and fraud perpetrators often hide assets to obstruct fair distribution and perhaps hide gains from fraudulent activities. In these cases, sociological information from a
Fraud remains a potential threat within organizations, irrespective of their size. However, small businesses, particularly those just starting out, face unique risks due to expensive fraud-prevention programs. Fortunately, there are
