MLR

Category: Fraud

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Mergers are like marriages. Success depends on any number of factors, but failure may be a result of one overriding flaw. In the case of mergers, that flaw often is lack of thorough due diligence.

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Do you dread getting phone calls from unfamiliar sources? It seems that callers are more likely to be aggressive solicitors, pushy telemarketers or even devious con artists than legitimate business people. Criminals typically target the elderly, disabled people or immigrants, threatening them with fines, penalties or deportation if they don’t make payments to the callers. In some cases, unsuspecting victims lose their entire life savings.

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The reality is, fraud happens and there are environments ripe for deception in the nonprofit industry.

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Unfortunately, the busiest and most profitable time of the year for retailers also attracts more than eager shoppers.Fraudsters, scammers and crooks ramp up their activities, seeking to skim a percentage of free-flowing dollars into their own pockets. The upcoming 2015 season will likely not be an exception. (11/23/2015)

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November and December are peak months for shoplifting. Not really a surprise. Shoplifting increases 10 percent or more during the holidays, according to security companies. Retailers are getting better at preventing shoplifting, but the losses are still staggering. The average value of items stolen per case is $134. (11/9/2015)

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Most employees have the business’s best interests at heart. Unfortunately, some employees think they have the right to share in the good fortune of their employer – whether they are authorized to do so or not. This sense of entitlement is one of the most difficult fraud challenges to identify and counteract. (10/26/2015)

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Along with the convenience of online shopping comes the ever-increasing problem of fraud. In fact, LexisNexis reports that 2014 saw a 33 percent spike in fraud incidents over the past year, making it the worse on record.(10/12/2015)

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Some companies can’t resist the temptation to tweak their financial statements. This may happen when they are seeking financing or an investor, or when they are selling the business. But, as in most crimes, there are clues that this is taking place.(9/28/2015)

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A Texas con artist has been sentenced to 17.5 years in prison for convincing real estate investors that a Disney frontier park was in the works outside Dallas. Thomas W. Lucas claimed he had an inside source at Disney and forged Disney documents and maps to support his scheme about a proposed theme park. (9/14/2015)

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When a fraud is suspected, organizations must proceed quickly, but carefully. In most situations, simply calling the local police won’t help. False allegations or a wrongful termination may backfire against an employer and cause worse damage than the fraud itself. (8/31/2015)