Fraud

Divorce Fraud: When divorcing business owners minimize profits

Dividing a marital estate is rarely easy. But it’s made much harder if a divorcing spouse owns a private business and attempts to artificially deflate its profits or hide assets. If you or your attorney suspects this type of deception, engage a forensic accountant to investigate divorce fraud. Key questions to check for divorce fraud […]

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The Ugly Side of the Precious Metals & Stones Industry

All that glitters isn’t gold. This includes gold — and other precious metals, stones, and jewels that are sometimes used to launder the “dirty” proceeds of criminal activities such as drug trafficking and terrorism. But several U.S. laws and regulations target these international money-laundering operations. Good as gold Precious metals, stones, and jewels make ideal […]

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Deepfakes: The newest frontier in fraud

Fraud perpetrators are constantly altering their methods to evade detection. Nimble cybercriminals, for example, are why IT security companies update their software so frequently. The use of deepfakes (a word derived from “deep learning” and “fake”) is one of the latest threats to emerge. Deepfakes are enabled by artificial intelligence (AI) and they’re something your […]

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Fraud still matters when making business acquisitions

The COVID-19 pandemic has often made the due diligence process for business acquisitions more complex and time-consuming. But if you’re buying a company, it’s critical to dedicate your full attention to this part of the M&A process — not only to confirm that the selling business is as valuable as you believe it to be, […]

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Factor in fraud when selling customer invoices

If your business struggles to generate steady cash flow from operations, factoring is a possible solution. With factoring, a business sells the right to collect on customer invoices to a factoring company in exchange for an immediate payment. However, this may open the door to invoice fraud. If you have slow-paying customers, factoring accelerates the collections […]

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