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When It Comes to Fraud Prevention, Can You Afford to Procrastinate?
2008-05-29 00:00:00 Ever since the collapse of Enron and the 2002 implementation of Sarbanes-Oxley, auditors and investors are looking at companies' corporate compliance practices with a fine tooth comb. This has only been heightened by stock option backdating scandals and executive compensation...
Foreclosure Fraud Prevention Act passed unanimously
2008-04-03 17:00:00 The Foreclosure Fraud Prevention Act passed unanimously in the House yesterday. It would ensure that when homeowners sign a contract with a foreclosure rescue entity, that they are properly informed about their rights.
Tukanas Click Fraud Prevention script
2008-03-26 00:00:00 With Tukanas Click Fraud Prevention script you could easily know how many persons really visit your website and how many become customers. Detect click fraud on Pay-Per-Click Campaigns, Affiliate/Partner links, Banner Advertis
By: Shareware
Fraud Prevention
2008-03-10 08:43:00 One of my favourite non-IT blogs has got to be The Consumerist. I really like the idea of a public online watchdog that has the freedom to publish pretty much anything. Anyways, the other day this post caught my attention: Why doesn't a bank (cough HSBC cough) offer the option to have text message alerts sent to ...
By: ComputerDefense
Credit Card Fraud Prevention - Open Source Software by Risk IDS
2007-11-09 03:44:00 I recently came up with an idea to change the focus of this site to be an open source fraud software development project and it got me looking around at what is already out there. Risk IDS provides fraud prevention software specifically related to credit card fraud and other banking related transactions. "Risk IDS is for prevention of fraud within, although not limited to, credit card companies, retail banks and financial service organizations. The system is unique as it binds together all of the duplication that exists within the management of all fraud types. The interaction is via a workflow system, which reduces the need for training of bank staff and increases audit. It can integrate with other systems thus reducing duplication further. Analysts write their own rules and workflows using a GUI. The system is multi language for many sites whilestoring information in a central database for all customer products."
Fraud Prevention - SAP Software
2007-11-07 13:02:00 http://news.zdnet.co.uk/securit-y/0,1000000189,39290606,00.htm- CRM giant SAP is working with the Queensland University of Technology in Australia on software to hunt down fraudulent employee behaviour. According to SAP, the new software will have the capacity to detect fraud in real time by analysing user behaviour for activities that might indicate fraudulent behaviour ? such as creating a fake supplier or employee to divert company funds. When a potentially fraudulent activity is discovered, the company is alerted and a manual investigation prompted. The university said that the main source of current fraud detection is retrospective financial auditing, which enables any employees involved to change records of fraudulent transactions and cover their tracks before an audit.
By: Executive Fraud
Fraud Prevention Techniques for Credit Card Fraud
2007-10-31 03:18:00 Fraud Prevention Techniques for Credit Card Fraud by David A. Montague Effective credit card fraud prevention programs can increase sales revenue while decreasing administration costs and fraud losses. Learn the techniques and strategies to feel secure about accepting credit cards.
Guard Against Identity Theft - National Identity Fraud Prevention Week
2007-10-13 14:23:00 Four out of five people say they are concerned about the growing threat of identity theft, but many are not taking enough care to avoid it.
Sign The Back Of Your Credit Cards - Useless Fraud Prevention Advice?
2007-09-25 16:37:00 “To protect your credit card against misuse, remember to sign the back of your card before you start using it” - you will hear that every single time when you call your credit card company to activate a credit card (or a debit card for that matter). Even the Federal Trade Commission (which, by the ...
How can fraud prevention make your online store loose money?
2007-08-23 11:07:00 Online stores often go far when it comes to fraud prevention and security measures. Besides credit card history check, a lot of major online stores introduce sophisticated systems to verify IP addresses. Most likely it does pay off ? one ecommerce fraud attack can damage business and drive away many customers. But can fancy fraud prevention ...
How can fraud prevention make your online store lose money?
2007-08-23 11:07:00 Online stores often go far when it comes to fraud prevention and security measures. Besides credit card history check, a lot of major online stores introduce sophisticated systems to verify IP addresses. Most likely it does pay off ? one ecommerce fraud attack can damage business and drive away many customers. But can fancy fraud prevention ...
Free fraud prevention dvd -call in
2007-06-29 21:15:00 http://www.usps.com/postalinspe-ctors/dvdorder.htm Discuss this in the forum
By: Free Stuff Times
Cash Larceny - Fraud Detection and Fraud Prevention
2007-06-15 00:33:00 http://www.executivefraud.com/F-raud_Blog.php/2007/06/14/cash_l-arceny_fraud_detection_and_frau-d_p Cash larceny is the theft of cash that has already been accounted for in the books. Since there generally is a paper trail it is considered to be one of the easiest frauds to detect and prevent through the use of internal controls. In this section, I'll discuss the different ways fraudsters can steal incoming cash. 1. Stealing Cash from the Register Register theft is the most common form of cash larceny for the obvious reason that it is an easily accessible point of contact with cash receipts. At the time the cash is stolen from the register there already is a record of the transaction on the register tape. Register theft creates an imbalance between the cash in the drawer and the transaction totals on the register tape. In order to detect register theft it is necessary to reconcile both cash balances and track individual cashiers to ensure there are not employees that consisten...
By: Executive Fraud
Cash Larceny - Part 2
2007-06-14 09:34:00 http://www.executivefraud.com/F-raud_Blog.php/2007/06/14/cash_l-arceny_part_2 Continued from Cash Larceny Part 1 4. Register Tape Removal Stealing the register tape or destroying it would allow the employee to cover the amount of money that they were able to steal from the register. A big problem with this method is that there needs to be an explanation of what happened to the register tape when it turns up missing and it would be rather obvious if it were to happen repeatedly. In order to prevent this from happening companies could install surveillance cameras that are pointed to all the cash registers therefore creating a record to go back to verify what happened to the register tape. 5. Cash Count Alteration During the reconciliation process it is important that the cash count is correct or there would not be a means of comparison for the register tape. In order to ensure that there is not the opportunity to manipulate the count it is important to segregate duties where the c...
By: Executive Fraud
Asset Misappropriation - Skimming
2007-05-01 18:01:00 http://www.executivefraud.com/F-raud_Blog.php/2007/05/01/asset_-misappropriation_skimming Skimming is the removal of cash for a victim company before the transaction is entered into the accounting system. Since skimming is an off the books type of fraud (it is never recorded) there is no direct audit trail therefore making the fraud difficult to detect. The employees with an opportunity to commit skimming schemes are those who deal directly with customers or those that handle their payments. This article will cover the four main categories of skimming schemes and discuss some of the red flags for detection of the fraud. Unrecorded Sales The most common form of skimming is not recording the sale of goods but collecting the money from the customer. Despite controls such as register tape, managers, and surveillance equipment, employees may be able to manipulate the system in order to prevent fraud detection. In some examples of unrecorded sales, the fraudster manipulates the reg...
By: Executive Fraud
Executive Roadmap to Fraud Prevention and Internal Controls: Creating a Cul
2007-04-25 14:05:00 Executive Roadmap to Fraud Prevention and Internal Controls: Creating a Culture of Compliance by Martin T. Biegelman, Joel T. Bartow "Our nation is faced with dual alarming trends of record highs in white-collar crime and seemingly record lows in ethics. The solution cannot be left only to legislators, regulators, and law enforcement. It requires the attention of all of us in business to create a culture of compliance. This new book by Martin Biegelman and Joel Bartow is an invaluable resource to achieving the highest levels of compliance." --Kenneth J. Hunter, former chief postal inspector and former president & CEO of the Council of Better Business Bureaus
Online Payment Fraud Prevention
2007-03-12 16:22:00 One of the most important areas that a company must protect themselves from is online payment fraud. In today’s modern era, many consumers are choosing to shop online. This has opened the doorway for businesses to accept and process credit cards in real time applications. Although this has created a doorway for business success, it has also enabled credit cards online fraud to become increasingly prevalent. In hopes of preventing fraud online, many companies are choosing to use higher security settings, encrypting credit cards, and are using strategies designed for preventing fraud online.For more information on online payment fraud prevention.Keywords: Consumer Fraud, fraud prevention, online payment fraud, payment fraud prevention
FBI Issues Mortgage Fraud Prevention Warnings
2007-03-09 03:37:09 The Federal Bureau of Investigations (FBI) is cracking down on financing fraud by enforcing fines & potential prison time. In the FBI's agreement with the Mortgage Bankers Association they are seeking to educated consumers of the penalties of fradulent activity. Financial institutions are currently required to file Suspicious Activity Reports (SARs) to law enforcement. These filings have been on the rise since 2004 and have more than doubled by 2006 totaling 36,000 reports. Estimated losses to federally backed financial institutions are just shy of $1 billion. As the mortgage industry has a large effect on the national economy, the crack down on fraud is likely to continue strong into the future. The FBI has taken the first step by issuing the Mortgage Fraud Notice.
By: Executive Fraud
Fraud Prevention
2007-03-08 15:36:03 Fraud Prevention: Most cost effective way to reduce losses from fraud Create & Maintain an Appropriate Culture Culture is important in any organization but to have the appropriate attitude of honesty and high ethical standards is important to prevent fraud. Management must demonstrate this model by providing a tone at the top emphasis on this culture. After setting the tone, management must follow up on this commitment by hiring the right people for the job and ensuring that their hiring policies are effective at eliminating those people that do not meet the standards set by the culture. The hiring process should entail some form of background check in order to gather some information about their past ethicial behavior. After acceptance of new employees, management should clearly communicate their expectations and require written confirmation of a mutual understanding of these expectations. Methods of Establishing Ethical Corporate Culture 1. Code of Conduct - Should id...
By: Executive Fraud
Fraud Prevention Tips For Your Online Protection
2007-01-25 13:30:03 Fraud prevention tips will surely protect you from online fraud or internet fraud. Be aware of the online fraud or internet fraud schemes and know how to prevent them.... |
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