With business communication becoming less face-to-face and more virtual, criminals could contact your firm disguised as a customer support specialist from one of your vendors. According to a recent press release from the FBI Internet Crime Complaint Center (IC3), 2021 saw an increase in the number of complaints about the impersonation of customer support pros. […]
Many Finance departments are still operating remotely, at least in some capacity. That can be a big fraud risk for many reasons. But there’s good news: While it’s becoming more challenging to avoid payment fraud, it’s not due to telework. Almost half of finance pros (47%) said working remotely isn’t to blame for any increases […]
Whenever your people are working remotely, they still have to be vigilant about protecting sensitive financial data from different kinds of digital attacks. To ensure staffers doing remote work don’t unwittingly make your organization vulnerable to hackers, here are some strategies from tech experts. Remote work safeguards Prevent data leaks with these steps: Require employees […]
It’s important to have a process in place to review purchase orders and invoices. And it’s key to double-check that payments seem appropriate for the supplies you’re receiving. One fraudster took advantage of his company’s lack of checks and balances to steal more than $20 million. Elliot Kleinman, a former facility manager from Bel Air, […]
Last year, the U.S. saw an “unprecedented” increase in malicious cyber activity, such as business email compromise (BEC). Crooks tried to gain access to W-2 info and other valuable data that employers possess. That’s according to the latest info from the FBI. In 2021, the FBI’s Internet Crime Complaint Center (IC3) received 847,376 complaints – […]
So could the war in Ukraine extend to Russian cyberattacks on American businesses? It’s something to think about because the U.S. Cybersecurity and Infrastructure Security Agency (CISA) says that Russian has been hitting government and other organizations in Ukraine with malware and denial of service attacks. Right now, the threat level is low, CISA said […]
We’ve got good news and bad news when it comes to fighting off costly cyberattacks. The good news: You don’t have to sink a ton of money into technology to fend off the next scam. The bad news: That’s because the vast majority of incidents come from human mistakes! In fact, a full 77% of […]
Improper claims of business tax credits has made IRS’s list of “Dirty Dozen” scams for several years now, including last year. So, don’t forget to dot your i’s and cross your t’s on this one. A research and development (R&D) tax credit is allowed under Internal Revenue Code Sec. 41 with proper documentation. That’s according […]
Good news: Many of your vendors moved from check payments to ACH. Bad news: Criminals will try to find a way to hijack money that’s supposed to go to them by changing or stealing their banking info. Vulnerabilities that contribute to fraud include unencrypted email communication and A/P departments that are so busy that verifying […]
