Fraud Prevention Training
The Problem
The typical company in the United States loses 7 percent of gross revenues to fraud and abuse every year according to The 2008 Report to the Nation of Occupational and Fraud Abuse. One-fourth of the fraud schemes involve losses greater than $1 million. Most of the frauds were committed by either an employee (39.7%) or managers (37.1%).
The Solution
The right people, trained properly, are your company's best defense. Tipsters turned up 46% of the fraud reported, whereas 23% were disclosed by internal controls, which the Sarbanes-Oxley legislation targets, and 20% were uncovered by accident.
How We Can Help You
The Heekin Law Firm has the knowledge, experience, and alliances to train your people. Katherine Heekin, the firm's founder, is a Certified Fraud Examiner (CFE) with The Association of Certified Fraud Examiners, identified as "the premier financial sleuthing organization" by The Wall Street Journal. The firm regularly partners with forensic accountants who are CFEs and computer forensic experts. The firm has encountered and successfully redressed a variety of fraud schemes, including:
- Employee embezzlement by check tampering with erasable ink at an accounting firm (asset misappropriation)
- Forged documents by agents representing a creator of cartoon characters (corruption)
- Employees developing medical records software departed with trade secrets on their laptops (asset misappropriation)
- Use of fictitious companies, falsified documents and computer entries, and check kiting by employees at a factoring company to misreport the company's financial condition (fraudulent statements)
- Use of related entities, false year-end transactions, and check kiting to sell phantom cattle and misreport the company's financial condition (fraudulent statements)
Let us use our knowledge, experience, and alliances to teach you how to protect your company's assets, reputation, and future.