Does it feel like the cost of nearly everything is on the rise or not coming down? Just when a commodity comes down in price, another one creeps back up? Gasoline and diesel prices at the pump are on the…
Fraud
The Securities and Exchange Commission (SEC) under President Biden continues to make an example of companies and individuals that don't tell customers and investors the whole truth and nothing but. Two investment firms are the latest to feel the wrath…
Adopting AI in the workplace is going to be a struggle unless attitudes about the controversial technology improves. And there's no guarantee that finance professionals or the average American worker will ever learn to love, let alone trust, generative AI.…
A recent ransomware attack illustrates why an attacked company that pays ransom shouldn't expect the hackers to live up to their end of the bargain. Once upon a time, cyber thieves did exhibit a modicum of honor. They'd unlock a…
Finance teams need to be checking expense reports and payment card bills in 2024 to prevent fraud. Employees who normally wouldn't try passing off bills as business expenses may be feeling more pressure to give it a shot. Current economic…
Crooks have more tactics for committing payment fraud at their disposal than you think. For example, these are just the different types of phishing attacks being used to exploit busy A/P staffers and steal money and sensitive data from companies:…
A finance employee at a multi-national company recently transferred money at the direction of the CFO during a video call. Other finance co-workers whom the employee recognized sat in on the call. The employee dutifully made 15 separate electronic transfer…
Whether they're triggered by criminal fraud, duplicate charges, a technical glitch or a dissatisfied customer, credit card chargebacks can become a nagging pain point for A/P and a disruptor to the efficiency and profitability of your business. In fact, Mastercard…
Pat's and Geno's in South Philadelphia are the most famous cheesesteak destinations for tourists who come to Philadelphia. But locals know you're better off heading a little further south into the city for a steak sandwich at Tony Luke's (or…
Insider trading is morally wrong and illegal. People go to jail for it. The risks to one's reputation and freedom outweigh the money that can be made. The risks are a lot lower if you're a member of Congress though.…
The most common reason companies get ripped off by dishonest employees? Lack of oversight. The Jacksonville Jaguars football franchise is just the latest example. The Jags made Amit Patel its manager of financial planning and analysis in 2018. One of…
A beneficial ownership reporting rule that takes effect January 1, 2024 may add another critical item to your compliance to-do list. An estimated 32.6 million LLCs and corporations that will be subject to the rule must complete a Beneficial Ownership…
