Posts by Haley Beatty
What Financial Institutions Need to Know About Suspicious Activity Reports
At a glance Schedule your consultation with Aprio today The full story: Money laundering continues to be one of the most significant financial crimes committed globally today. Just how costly are these crimes? The United Nations estimates that between $800 billion to $2 trillion is laundered each year across the world, or around 2% to…
Read More4 Most Common Red Flags for Employee Expense Fraud
At a glance Schedule a consultation with Aprio today The full story: Did you know that one of the most common entry points for internal fraud is employee expense reports? In fact, expense reimbursement cases account for 20% of fraud in small businesses and 11% of fraud in larger enterprises, according to the Association of…
Read MoreCalculating Lost Profits from a Cyberattack
By: Libby Neubauer, Forensic Accounting Manager At a glance The main takeaway: Cyberattacks can result in significant financial losses and potentially create lasting damage to a business’s bottom line. Impact on your business: Monitoring the most vulnerable areas of your business and enlisting the help of a forensic accounting team enables you to protect against…
Read MoreAre You a Victim of Employee Fraud? Learn the Top Red Flags
By: Libby C. Neubauer At a glance The main takeaway: Ninety percent of all significant fraud losses are committed by employees, so business owners must educate themselves on the key warning signs to watch for internally. Impact on your business: In order to properly detect a case of employee fraud, owners should know which areas…
Read MoreWhat Are Ponzi Schemes & How You Can Protect Yourself
At a glance If you suspect that you have been a victim of a Ponzi scheme, schedule a consultation today. The full story: What are Ponzi schemes? You hear about them in news exposés, television specials and even in popular culture. Ponzi schemes are often used as cautionary tales for fraud and it’s hard to…
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Top Anti-Money Laundering Best Practices for Jewelry Dealers
At a glance All that glitters isn’t gold: The jewelry business is ripe for money laundering. Jewelry dealers can reduce the risk of fraud and comply with regulatory requirements by implementing an anti-money laundering (AML) program. Protect what’s most important: Some jewelry dealers are required to adhere to Section 352 rules under the USA PATRIOT…
Read MoreWhat’s in the Cards for Gaming? Watch Out for These Industry Disruptors
At a glance The main takeaway: Gaming has grown into a billion-dollar global industry, bringing both areas of opportunity and increased risk. Impact on your business: In 2022, be proactive about bolstering your anti-money-laundering program, while preparing for new reporting requirements and opportunities in cryptocurrency. Next steps: To stay abreast of new issues in risk management, it’s smart…
Read MorePart I: Are Your Business’s Intellectual Property Rights Protected?
At a glance The main takeaway: Business owners need to be more vigilant about protecting their intellectual property (IP) in today’s digitally driven world, in which infringement can be harder to detect. Impact on your business: In part one of our two-part series on IP infringement, we provide a baseline introduction to some of the most common…
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