Business owners are hard workers who handle massive amounts of day-to-day work. They also bear the responsibility for making smart relationship decisions such as hiring and firing employees and deciding where to bank. Each of these business relationship decisions can strengthen the business or can expose it to potential fraud. What exactly is fraud? Fraud is any act of deception that is used to create a financial gain. This basic concept of fraud manifests itself in a variety of relationships ...
Forensic Accounting: Not Just About the Money
When Susan suspected that her long-time business partner and friend had been stealing from the business, she felt like she had been punched in the chest. How could her friend betray her trust? They had been through so much together! They had watched their venture grow from an idea to a thriving business. Susan had always been thankful that her friend worked so hard. Susan even felt bad for her because she complained about money being so tight and not knowing how to afford college for her ...
FAQ About Forensic Accounting
Who needs the services of a forensic accountant? If you suspect you are the victim of any kind of personal or business fraud whether it be credit card fraud, money laundering, misappropriation of funds, or another type of situation, you need a forensic accountant. What does a forensic accountant do? A forensic accountant will not only use their accounting skills to find evidence of an embezzlement or theft, but will also use interviewing skills to uncover the intent to defraud. The forensic ...
7 Questions to Ask a Private Investigator
You have worked hard to build your business and its favorable reputation in the community. You operate your business with integrity and honesty. Unfortunately, not all employees or business associates follow suit. If you suspect possible bank fraud, identity theft, insider corporate fraud, or bank robbery, don’t stand by while all your hard work is destroyed. Hire professional investigative services to “follow the money” and track down the perpetrator or fraudster. Not all private ...
Global Profiles of the Fraudster
KMPG International recently published Global Profiles of the Fraudster based on a survey of 750 fraudsters worldwide. The report can be read or downloaded through the following hyperlink: http://www.kpmg.com/eastafrica/en/IssuesAndInsights/ArticlesPublications/Documents/Profile%20of%20Fraudster%202016_V13_web.pdf The report is informative and provides a current profile of fraudsters. The report confirms what the partners of Quick Group have known from their years of investigative ...
Revolutions Medical Corp. Execs Indicted for Securities Fraud and Money Laundering
On February 9, 2016, the U.S. Attorney Office for the District of South Carolina filed criminal charges against Rondald Wheet and Byron “Scott” Key for conspiring to commit securities fraud and to defraud the U.S Securities and Exchange Commission (SC). Key was also charged with money laundering. Wheet was the Chairman and Chief Executive Officer (CEO) of Revolutions Medical Corp. (RMCP) and Key was the Investment Relations Representative for the company when the alleged crimes were committed. ...