Many of you are aware of the famous cyberattack on the City of Atlanta that occurred over a year ago, but you may not understand how it worked out. SamSam is a specific type of ransomware that is known for gaining entry by scanning the network for passwords or other entry data used by vendors …
You hear accountants/auditors talk about segregation of duties but do owners, Board Members and Council Members understand what it means? Surely, these individuals understand leaving such a vital part of the operations to a single person would be disastrous to the organization whereas working as a team toward a common goal produces success. The financial …
Recently the Federal Trade Commission put out an alert on phone spear phishing and caller ID spoofing scams that are on the rise among consumers and companies. I imagine you experience the same relentless calls from phone numbers you don’t recognize as I do every day on my personal devices. Usually I just ignore and …
By now you are probably familiar with Rita Crundwell, the City Comptroller who embezzled more than $53 million over a 20-year period. If not, click here. That story seems to still get a lot of attention as it is shocking how she was able to get away with so much for so long; however, there …
Netflix recently released a documentary called “All the Queen’s Horses.” It details the story of Rita Crundwell, the perpetrator of the largest case of municipal fraud in American history. As the City Comptroller and Treasurer for Dixon, Illinois, Rita Crundwell embezzled more than $53 million of public funds over a 20-year period. The stolen funds …
You may believe that phishing emails are a thing of the past and that no one falls for them. However, emails remain the number one way for scammers to infect your computer with viruses or ransomware and they have been getting more complex with their schemes. Spear phishing Typically, phishing emails can be easily identified …
Risk management and internal control are vital to a business’s financial health, but can often be put to the wayside amongst required day-to-day work. However, the benefits of taking the time to prioritize risk management can far outweigh the time put in up front. With the wide range of uncertainties faced by organizations, risk management …
For small and medium sized companies, fraud schemes to create fake invoices and payments to vendors is fairly simple, if the right processes are not in place. According to an article written by Cecilia Locati in the Journal of Accountancy, these seven tips can help companies decrease the presence of fraud through the procurement process. …
State and local governments have fraud just like other industries and organizations. In fact, according to the Association of Certified Fraud Examiners’ (ACFE) most recent 2016 Report to the Nations, “government and public administration” was second only to “banking and financial services” when it came to the number of cases of fraud reported to the …
When consumer activity increases substantially, with it comes the increase in consumer fraud. How are these fraudsters gaining access to consumer information? They do it by developing new schemes to get your personal identifiable information. The latest scheme targeted our teachers. Recently a fraudster did a little homework and created a fictitious email account in …