How to prevent fraud?

[Heimer]

Billions of dollars are lost every year to occupational fraud or White collar crime. Businesses have been forced into bankruptcy because of fraud. In this day of blurred lines between right and wrong along with an end justify the means mentality, fraud is on the rise. Is your business at risk? Probably so, if you have any employees’, receive deliveries, or have accountants, managers or bookkeepers handle any of your business. To prevent fraud from happening in your company you need to understand the dynamics of this crime.
There are 2 main sources of fraud. The first is internal meaning an inside job usually an employee of the company. The second form is external and this is likely to be perpetrated by an outside vendor or supplier. Most fraud, unfortunately, is an inside job.
The United States Chamber of Commerce estimates that employee theft costs businesses somewhere between $20 and $40 billion per year. As indicated previously not all fraud is committed by employees. Vendors and suppliers can easily scam a business if the right checks and balances aren’t in place and that increases the amount of revenue lost to fraud by a substantial amount.
Who is more likely to commit fraud?
Most fraud is committed by those in the position of authority who have control of information. They are less likely to be questioned. Managers and professionals have the capacity to commit fraud and conceal information relating to it. That, however, does not mean that fraud is not committed by other employees.
Spotting possible fraud ;
The obvious indication is missing funds, but there are other things to look for. Identification of red flags of fraud is the first step in recognizing and stopping fraud. Be aware of the signs an employee might be committing fraud.
These signs may indicate that an employee is perpetrating fraud;
An employee constantly at work, coming in early and leaving late may indicate that something is going on. Be aware that some frauds require constant manipulation of information to remain hidden. If the perpetrator was not at work, the fraud may be exposed
Watch for an autocratic management style that ignores employee complaints or suggestions and discourages criticism of their own actions and their actions are often unaudited.
Key employees having too much control without audit checks
The red flags alone may not be the reason for an employer to take action against an employee. They are, however, cause for scrutiny and further investigation.
Daily there is a very good chance you will read an article in local newspapers about one or more employees caught stealing or unlawfully taking something from their place of employment be it; theft, pilfering, larceny and or outright embezzlement. Every year billions of dollars are lost by businesses nationwide to employee fraud and theft and the number of incidents is rising with small businesses, which usually focus on product development, marketing and sales, are particularly vulnerable.
Businesses can not run properly without its human resources, however, some employees of the company can defraud and with the result of the business suffering losses or even going bankrupt from occupational frauds.
Owners and senior management of small-medium and big businesses have to pay attention to a lot of activities and make a number of decisions each day which may not allow enough time to diligently concentrate on each functional areas, therefore, business requirements to build a solid internal control system to prevent fraud or error.
This system should set out policies and procedures for processing, recording and reporting financial data and securing a company’s assets.
Typically, frauds occur in the following areas;
Accounts receivable — This entails an employee or accomplice diverting customer payments for his own use. This usually involves opening a bank account with a name similar to the company’s name and deposits checks meant for the company in it. Inventory fraud. This involves an employee appropriating business inventory for personal use stealing inventory for resale. This is more common with consumer goods that are small and easy to conceal. In addition to stealing for personal use. Purchasing fraud. High stork businesses are particularly vulnerable to fraud and it is an area that represents the large risk for embezzlement. This usually involves paying invoices to fictitious companies. The employee establishes a fake entity and has it enter into the company’s system as a vendor and then produces invoices from the fake vendor, which get processed. Cash fraud. Company’s cash is an inviting target for fraudulent activities. Employees usually use company checks to withdraw cash directly or pay personal expenses or may skim cash off the top before it enters the accounting system.

About Author:
My name is Janise and I am business coach and zodiac casino flash review writer with 6 years if experience. I want to help people how to manage their business life and their budgets.

Frauds comes in many faces, the government, businessman, schools and a lot more. Nowadays, money is everything which leads lots of people into committing fraud without even sympathizing those who will become the victim. In crypto, ICO scams are everywhere, you cannot fully trust one of it not unless you've carefully read the whitepaper and the background of the people running it. So to avoid it, get more information before risking, it wouldn't be a waste of time for sure.

Probably one thing that that could minimize ICO scams and other crypto frauds would be some sort of government regulations. For example if all of ICOs had to be approved by SEC or other government agency it would be much harder to scam investors

[1714584687]

1714584687

[DaftAjax]

Preventing fraud(?), I'm skeptical about this.

We can't really prevent fraud, considering even after dividing it into two categories and still fail only shows that you can't prevent it at all. I am not saying that this is useless at its core, but instead, it reveals what we must do. We always have to anticipate these kinds of acts. If you can't entirely prevent it, then cut losses. And what I mean about that is, deduction, don't overly confidently invest into something that you think will give you "easy" gain. I would also suggest spreading your investments, don't just focus on one, just because it has the potential to give the highest profit doesn't always mean you should go all-in.

[KnightElite]

You can easily identify if it os fraud or not by analyzing and researching well about the ICO. There are now a lot of victims because they didn't study well before they put their money in a fraud project.

[UstadSoleh]

Need precision in determining project ICO, IEO, and STO. For me, a good project is certainly those who have real products. But research and analysis are very important to do to prevent fraud.

Perhaps if they are unsure, it is better to try to follow the gift and not invest. Investment of course risk could be losing money if this project is fraudulent. But if they follow a very small risk bounty campaign and they will only lose time.

[ice098]

You can easily identify if it os fraud or not by analyzing and researching well about the ICO. There are now a lot of victims because they didn't study well before they put their money in a fraud project.

We need to have a deep research in every ICO or IEO we are looking for or we are going to invest with our money even it is a small amount or big. Everyone should know and be aware in his sorroundings, we need to know that nowadays people are so bad they will do anything that can fool you, especially when it comes to money, here in modern world where bitcoin is a good source of money we should notice that many scammers are there and we should be careful in every actions we are taking we need to secure our wallets, avoid clicking links that can get your details avoid talking to strangers that will promise you that you will become rich in a small span of time.

[Finestream]

You can easily identify if it os fraud or not by analyzing and researching well about the ICO. There are now a lot of victims because they didn't study well before they put their money in a fraud project.

Though you will spend more effort and time to research, you will still fail when you invest in ICO, for one reason,.. they are not selling anymore.
We are now in the stage where ICO is slowly moving out while IEO is getting in the market and its more popular now.

Every investor has different mindset, some would go for short term investment while others will go for long term.
At this stage now, it's hard to choose a project that will succeed in short as majority will fail, but that does not mean they don't have a potential int he future, thing is, now its still a game of hype.

[Arsenyo]

I would say be careful while choosing a project/ICO, but even then there will always be a risk as it is a market without strict rules and regulations.. So we can't check fraud and other scam activities. I hope that IEO is a solution to prevent or just limit fraud and scams.

[Taskford]

You can easily identify if it os fraud or not by analyzing and researching well about the ICO. There are now a lot of victims because they didn't study well before they put their money in a fraud project.

That is the lesson for them that cost a lot of money. Newbies are greedy in making money so they usually just invest straightforward to the ICO and they doesn't even think twice about it because they believe that it is the right decision for them but at the end, they got scammed and they will blame cryptocurrency for being scam but it is their fault for not doing the DYOR thing first.

Somehow we can't blame them since most of the newbies has been invited by there uplines and gives a false promise that they earn a lot of money by doing nothing, and newbies should learn that there's no easy money and always think twice on to good to be true offers since it must be a scam if the profit is huge in short time span.

I would say be careful while choosing a project/ICO, but even then there will always be a risk as it is a market without strict rules and regulations.. So we can't check fraud and other scam activities. I hope that IEO is a solution to prevent or just limit fraud and scams.

To get away of scam then newbie should really stay away on ICO's since 99% of them are scam and best for new comers is to learn the trading since its more worth and profitable.

[Magkirap]

Billions of dollars are lost every year to occupational fraud or White collar crime. Businesses have been forced into bankruptcy because of fraud. In this day of blurred lines between right and wrong along with an end justify the means mentality, fraud is on the rise. Is your business at risk? Probably so, if you have any employees’, receive deliveries, or have accountants, managers or bookkeepers handle any of your business. To prevent fraud from happening in your company you need to understand the dynamics of this crime.
There are 2 main sources of fraud. The first is internal meaning an inside job usually an employee of the company. The second form is external and this is likely to be perpetrated by an outside vendor or supplier. Most fraud, unfortunately, is an inside job.
The United States Chamber of Commerce estimates that employee theft costs businesses somewhere between $20 and $40 billion per year. As indicated previously not all fraud is committed by employees. Vendors and suppliers can easily scam a business if the right checks and balances aren’t in place and that increases the amount of revenue lost to fraud by a substantial amount.
Who is more likely to commit fraud?
Most fraud is committed by those in the position of authority who have control of information. They are less likely to be questioned. Managers and professionals have the capacity to commit fraud and conceal information relating to it. That, however, does not mean that fraud is not committed by other employees.
Spotting possible fraud ;
The obvious indication is missing funds, but there are other things to look for. Identification of red flags of fraud is the first step in recognizing and stopping fraud. Be aware of the signs an employee might be committing fraud.
These signs may indicate that an employee is perpetrating fraud;
An employee constantly at work, coming in early and leaving late may indicate that something is going on. Be aware that some frauds require constant manipulation of information to remain hidden. If the perpetrator was not at work, the fraud may be exposed
Watch for an autocratic management style that ignores employee complaints or suggestions and discourages criticism of their own actions and their actions are often unaudited.
Key employees having too much control without audit checks
The red flags alone may not be the reason for an employer to take action against an employee. They are, however, cause for scrutiny and further investigation.
Daily there is a very good chance you will read an article in local newspapers about one or more employees caught stealing or unlawfully taking something from their place of employment be it; theft, pilfering, larceny and or outright embezzlement. Every year billions of dollars are lost by businesses nationwide to employee fraud and theft and the number of incidents is rising with small businesses, which usually focus on product development, marketing and sales, are particularly vulnerable.
Businesses can not run properly without its human resources, however, some employees of the company can defraud and with the result of the business suffering losses or even going bankrupt from occupational frauds.
Owners and senior management of small-medium and big businesses have to pay attention to a lot of activities and make a number of decisions each day which may not allow enough time to diligently concentrate on each functional areas, therefore, business requirements to build a solid internal control system to prevent fraud or error.
This system should set out policies and procedures for processing, recording and reporting financial data and securing a company’s assets.
Typically, frauds occur in the following areas;
Accounts receivable — This entails an employee or accomplice diverting customer payments for his own use. This usually involves opening a bank account with a name similar to the company’s name and deposits checks meant for the company in it. Inventory fraud. This involves an employee appropriating business inventory for personal use stealing inventory for resale. This is more common with consumer goods that are small and easy to conceal. In addition to stealing for personal use. Purchasing fraud. High stork businesses are particularly vulnerable to fraud and it is an area that represents the large risk for embezzlement. This usually involves paying invoices to fictitious companies. The employee establishes a fake entity and has it enter into the company’s system as a vendor and then produces invoices from the fake vendor, which get processed. Cash fraud. Company’s cash is an inviting target for fraudulent activities. Employees usually use company checks to withdraw cash directly or pay personal expenses or may skim cash off the top before it enters the accounting system.

About Author:
My name is Janise and I am business coach and zodiac casino flash review writer with 6 years if experience. I want to help people how to manage their business life and their budgets.

This information was very useful especially in these days. We should be very picky when choosing ICO and investments. A lot of projects doesn't really have a unique feauture compare to others and what they only do is to make project and  get money from investors. This was really happening today that is why we should be aware in this scams and fraud. It is better to have a research first before investing with this projects. On the other hand there are still ptojects that offer great features which really help us

[ReiMomo]

~snip~

This information was very useful especially in these days. We should be very picky when choosing ICO and investments. A lot of projects doesn't really have a unique feauture compare to others and what they only do is to make project and  get money from investors. This was really happening today that is why we should be aware in this scams and fraud. It is better to have a research first before investing with this projects. On the other hand there are still ptojects that offer great features which really help us

It's very well said, isn't it? Every one of us have different strategies and technique not to fool fraud. In my own opinion, in order to avoid or prevent fraud, you should always do some research or background check before you are going to invest or pay. That's is very important and also don't you ever give your personal information, username or password to someone if you don't know him better. Just take even 1 day of research about them, in that way you can lower the possible risk.

[Apaxy]

~snip~

This information was very useful especially in these days. We should be very picky when choosing ICO and investments. A lot of projects doesn't really have a unique feauture compare to others and what they only do is to make project and  get money from investors. This was really happening today that is why we should be aware in this scams and fraud. It is better to have a research first before investing with this projects. On the other hand there are still ptojects that offer great features which really help us

It's very well said, isn't it? Every one of us have different strategies and technique not to fool fraud. In my own opinion, in order to avoid or prevent fraud, you should always do some research or background check before you are going to invest or pay. That's is very important and also don't you ever give your personal information, username or password to someone if you don't know him better. Just take even 1 day of research about them, in that way you can lower the possible risk.

I am sure that ordinary people are losing their money, who are being deceived and who are not connected with the activities we are engaged in.  The cryptocurrency user community still exchanges information about different situations and is constantly trying to protect itself.  Therefore, people like us are minimally in the danger zone.

[Pinkris128]

Billions of dollars are lost every year to occupational fraud or White collar crime. Businesses have been forced into bankruptcy because of fraud. In this day of blurred lines between right and wrong along with an end justify the means mentality, fraud is on the rise. Is your business at risk? Probably so, if you have any employees’, receive deliveries, or have accountants, managers or bookkeepers handle any of your business. To prevent fraud from happening in your company you need to understand the dynamics of this crime.
There are 2 main sources of fraud. The first is internal meaning an inside job usually an employee of the company. The second form is external and this is likely to be perpetrated by an outside vendor or supplier. Most fraud, unfortunately, is an inside job.
The United States Chamber of Commerce estimates that employee theft costs businesses somewhere between $20 and $40 billion per year. As indicated previously not all fraud is committed by employees. Vendors and suppliers can easily scam a business if the right checks and balances aren’t in place and that increases the amount of revenue lost to fraud by a substantial amount.
Who is more likely to commit fraud?
Most fraud is committed by those in the position of authority who have control of information. They are less likely to be questioned. Managers and professionals have the capacity to commit fraud and conceal information relating to it. That, however, does not mean that fraud is not committed by other employees.
Spotting possible fraud ;
The obvious indication is missing funds, but there are other things to look for. Identification of red flags of fraud is the first step in recognizing and stopping fraud. Be aware of the signs an employee might be committing fraud.
These signs may indicate that an employee is perpetrating fraud;
An employee constantly at work, coming in early and leaving late may indicate that something is going on. Be aware that some frauds require constant manipulation of information to remain hidden. If the perpetrator was not at work, the fraud may be exposed
Watch for an autocratic management style that ignores employee complaints or suggestions and discourages criticism of their own actions and their actions are often unaudited.
Key employees having too much control without audit checks
The red flags alone may not be the reason for an employer to take action against an employee. They are, however, cause for scrutiny and further investigation.
Daily there is a very good chance you will read an article in local newspapers about one or more employees caught stealing or unlawfully taking something from their place of employment be it; theft, pilfering, larceny and or outright embezzlement. Every year billions of dollars are lost by businesses nationwide to employee fraud and theft and the number of incidents is rising with small businesses, which usually focus on product development, marketing and sales, are particularly vulnerable.
Businesses can not run properly without its human resources, however, some employees of the company can defraud and with the result of the business suffering losses or even going bankrupt from occupational frauds.
Owners and senior management of small-medium and big businesses have to pay attention to a lot of activities and make a number of decisions each day which may not allow enough time to diligently concentrate on each functional areas, therefore, business requirements to build a solid internal control system to prevent fraud or error.
This system should set out policies and procedures for processing, recording and reporting financial data and securing a company’s assets.
Typically, frauds occur in the following areas;
Accounts receivable — This entails an employee or accomplice diverting customer payments for his own use. This usually involves opening a bank account with a name similar to the company’s name and deposits checks meant for the company in it. Inventory fraud. This involves an employee appropriating business inventory for personal use stealing inventory for resale. This is more common with consumer goods that are small and easy to conceal. In addition to stealing for personal use. Purchasing fraud. High stork businesses are particularly vulnerable to fraud and it is an area that represents the large risk for embezzlement. This usually involves paying invoices to fictitious companies. The employee establishes a fake entity and has it enter into the company’s system as a vendor and then produces invoices from the fake vendor, which get processed. Cash fraud. Company’s cash is an inviting target for fraudulent activities. Employees usually use company checks to withdraw cash directly or pay personal expenses or may skim cash off the top before it enters the accounting system.

About Author:
My name is Janise and I am business coach and zodiac casino flash review writer with 6 years if experience. I want to help people how to manage their business life and their budgets.

In these days, many things come out because of some invention and development made by some developers. We should think before we do certain things. To keep and prevent fraud, we should be careful when we talks abouy financial because there are many people out there trying to steal and do wrong things in other people.

[Colt81]

In my own personal opinion, the best thing for us to prevent fraud or illegal activities that we should better think before we click meaning we should be more careful in visiting in unusual and unsafe websites for us to be more safe. Always read everything in the site before clicking the agree button especially if you need to submit a personal information and a transaction.

[imstillthebest]

In my own personal opinion, the best thing for us to prevent fraud or illegal activities that we should better think before we click meaning we should be more careful in visiting in unusual and unsafe websites for us to be more safe. Always read everything in the site before clicking the agree button especially if you need to submit a personal information and a transaction.

nice advice bo . indeed reading instructions is the most under estimated way to avoid frauds  . its easy to say read the rules and the instructions but i believe that only less people are doing it because the posted rules or instruction are sometimes too many which result for the reader to avoid it or they will only read the starting part . 

but no matter how you avoid vising unfamiliar sites , frauds will sometimes the one that will come to you . like for example when there are people that will come to you and ask you for stuff like this and that  . this is why we should be careful at all times .

[DaftAjax]

~snip....all responsibility falls on our shoulders.

That's the beauty as well as the curse of Decentralization. Every action you made is all in your shoulders.

But it's a given that 90% of ICO tend to fail. Because of the planning, they overly hype almost every ICO. And this mistake repeats every time. I am not sure if the whole plan was to just raise the funds and then get out. Because there are a lot of cases like that. Bunch of scams, and what's worst is that their own accounts in this type of forum are applied to these ICOs.

On top of that, it results in a lot of Spam posts all over the place.

[ropyu1978]

indeed this is very unsettling and can make a bad influence on others, so far we are almost fully aware of their game and on generally don't want to be transparent about project development
it could be that people who are trapped then are no longer interested in cryptocurrency and that we don't expect it

[DaftAjax]

indeed this is very unsettling and can make a bad influence on others, so far we are almost fully aware of their game and on generally don't want to be transparent about project development

This is the internet. Anonymity is part of it. You can't just DM a project and request for a "transparent" response of their plans. In these kinds of platforms, scammers are everywhere.

No, we are not fully aware. No one can ensure everything, who knows maybe Bitcoin is a big fat scam in the end aswell. But I hope that's not the case, I'm just giving you insights.

it could be that people who are trapped then are no longer interested in cryptocurrency and that we don't expect it

What do you mean by this exactly?

[Xxmodded]

fraud cases is not only with bitcoin but also many time fraud happen with money transaction, many kind of investment today never give back profit for investor after invest their money to the owner, they use member investor money to get rich for his self and do not care what happen with their member.

[NeironixNV]

In order not to be deceived, you need to be very careful when choosing a project, even one that already exists out of the top 10 coins, although they have proven themselves in time, anything can happen in a long period of time, the project may disappear and another one will replace it. Therefore, neironix advises to thoroughly study the project, team and their finished product.

[GideonGono]

fraud cases is not only with bitcoin but also many time fraud happen with money transaction, many kind of investment today never give back profit for investor after invest their money to the owner, they use member investor money to get rich for his self and do not care what happen with their member.

That's why the investing was really risky for us to being prepared in order to have a knowledge about investing because investing was not very easy and sometimes a project that show you profitable but it's not. You cannot stop fraud but if you have a rights then that will be good.