COMPANY FRAUD

December 8th, 2008

Fraud and misconduct can drain earnings; expose your company, management and you to criminal and civil liability; and, worse, threaten your most valuable asset--market reputation.

Private companies are more at risk: The Association of Certified Fraud Examiners (ACFE) found that 42 percent of all fraud and employee theft occurs at private and family-owned companies, a much higher rate than for public companies.

COMPUTER FRAUD

November 18th, 2008

ACCOUNTING IRREGULARITIES AND COMPUTER FRAUD

FINANCIAL DUE DILIGENCE

November 16th, 2008

FINANCIAL DUE DILIGENCE SERVICES is a discipline lacking definition, scope, clarity and agreement in Australia within the accounting profession. The poor cousin among financial disciplines, it has no mandatory requirements, yet the impact of properly conducting (or not conducting) financial due diligence can have a stunning impact on investment returns.

COMPANY SECRETS

October 30th, 2008

Three former employees of the Swedish telecomms equipment maker Ericsson have been imprisoned after being found guilty of industrial espionage.

An engineer who was laid off from Ericsson in August 2001 was sentenced to eight years in jail for handing secret company documents to Russian intelligence agents last year.

Two of his former colleagues, who gathered some of the information, were also convicted. One received a three-year prison sentence while the second was jailed for one year.

COMPANY ESPIONAGE

October 30th, 2008

More companies will be victims of industrial espionage...spying by competitors for inside dope on product development, bidding, etc., as a way of gaining advantage in business negotiations, contract pricing.

Top targets: High tech, biotech, defense and telecommunications.

Much of the snooping is legal...sleuths chatting up technicians at trade shows, befriending disgruntled workers, sifting through garbage.

PRIVATE INVESTIGATORS BELGIUM BRUSSELS ANTWERP

October 29th, 2008

Private investigators believe they can do many of the same jobs
as police just as well and more cheaply, a new study has shown.

The Australian Institute of Criminology report said investigators, who in NSW outnumber
police by some 2,000, believed they should gain greater access to confidential government
information to allow them to track down witnesses and debtors.

The profile of the private investigation business, prepared by criminologist Dr Tim
Prenzler and investigator Michael King, said investigators believed they could provide

EMPLOYEES FRAUD

October 24th, 2008

COMPANIES LOSE AN AVERAGE 6 PERCENT of their total revenue to fraud by their own employees--at a cost of $600 billion every year, far more than armed robbery. And unlike armed robbery, fraud is an inside job. How can you tell if fraud is going on in your company? More importantly, how can you prevent it in the first place? Here's a look at who is committing fraud, how they do it, and how to spot what they've done.

Who does the stealing?

FAKE DIPLOMAS

October 23rd, 2008

The man said he was a retired military officer from Syria, which the American government deems a sponsor of terrorists. He wanted credentials as a chemical engineer, useful for getting a visa to work in the United States. Could James Monroe University help?

For $1,277, it did. Within days, he received three undergraduate and advanced degrees in chemistry and environmental engineering, based on his "life experience," according to documents in federal court.

piracy

October 17th, 2008

China has created a special court to prosecute product piracy cases, a government spokesman said Friday, amid demands for Beijing to step up action against rampant illegal copying of movies, music, software and other goods.

China's supreme court has named a Judicial Court of Intellectual Property to handle such cases nationwide, court spokesman Sun Huapu said at a news conference held during the annual meeting of parliament.

EMPLOYEE FRAUD

October 8th, 2008

COMPANIES LOSE AN AVERAGE 6 PERCENT of their total revenue to fraud by their own employees--at a cost of $600 billion every year, far more than armed robbery. And unlike armed robbery, fraud is an inside job. How can you tell if fraud is going on in your company? More importantly, how can you prevent it in the first place? Here's a look at who commits fraud, how they do it, and how to spot what they've done.

Who does the stealing?

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