際際滷

際際滷Share a Scribd company logo

The Ultimate Financial Fraud Examination & Prevention Checklist

Download as PPTX, PDF
Veriti Consulting LLC
Veriti Consulting LLC

Did you know between 12.5 and 15 percent of the population are victims of financial fraud every year? Get the important facts about prevention and detection. Veriti Consulting LLC provides various fraud and forensic accounting services for individuals and businesses across the United States. Veriti is also a licensed private investigation agency. If you would like to learn more about the types of fraud and forensic investigative services we offer click here or call 855.232.4410.

1 of 17
Downloaded 15 times
VERITICONSULTINGLLC The Ultimate Financial Fraud Examination & Prevention Checklist TRUTHBEHINDNUMBERS.COM CertifiedFinancialExperts
What Is Financial Fraud And Can It Be Prevented? Financial fraud is known as a deceptive white collar crime that can be devastating yet manageable for individuals with the correct knowledge and accurate preventative methods. Being well aware of the possibilities in financial fraud could greatly benefit your finances down the road along with knowing when to call a certified fraud examiner if the situation calls for it. TRUTHBEHINDNUMBERS.COM CertifiedFinancialExperts
Types of Financial Fraud Bribery, which is simply used to deceive the victim into believing false accusations that might lead them to a financial flourish. Embezzlement, also called larceny, which is the illegal use of funds by a person who controls those funds. Identity Theft, the fraudulent acquisition and use of a persons private identifying information, usually for financial gain. Tax Evasion, the illegal nonpayment or underpayment of tax. TRUTHBEHINDNUMBERS.COM CertifiedFinancialExperts
Types of Financial Fraud Elder Fraud is an act targeting older adults in which attempts are made to deceive with promises of goods, services, or financial benefits that do not exist, were never intended to be provided, or were misrepresented. Money Laundering, which is the concealment of the origins of illegally obtained money, typically by means of transfers involving foreign banks or legitimate businesses. TRUTHBEHINDNUMBERS.COM CertifiedFinancialExperts
Types of Financial Fraud Mortgage Fraud is a crime in which the intent is to materially misrepresent or omit information on a mortgage loan application to obtain a loan or to obtain a larger loan than would have been obtained had the lender or borrower known the truth. Securities Fraud, also known as stock fraud and investment fraud, is a deceptive practice in the stock or commodities markets that induces investors to make purchase or sale decisions on the basis of false information, frequently resulting in losses, in violation of securities laws. TRUTHBEHINDNUMBERS.COM CertifiedFinancialExperts
Who Are Easy Targets? Here are some of the high-targeted victims that criminals prefer when planning their financial attack: Senior Adults, especially those who depend on family and friends for their care or those who have physical or mental impairments. Individuals who are physically impaired. Victims of domestic violence. Near-retirees. Previous victims of financial fraud. TRUTHBEHINDNUMBERS.COM CertifiedFinancialExperts
Who Commits Fraud? The offender is commonly between the age of 31-45, and somewhat more likely to be male than female. Strangers Members of various groups, for example, civic groups, community groups, political parties or professional organizations Family members Trusted advisers, for example, accountants, attorneys, investment professionals or bankers TRUTHBEHINDNUMBERS.COM CertifiedFinancialExperts
Identity Fraud Prevention Checklist Monitor your bank accounts frequently via the internet. Risk of receiving phony statements Check your monthly statements and verify all withdrawals. Report any suspicious activity immediately Shred all personal financial documents before throwing away. Avoid giving out your social security number whenever possible. Only provide last 4 digits whenever possible Use intricate passwords for all websites. Keep all personal information protected in a locked storage/password protected file. TRUTHBEHINDNUMBERS.COM CertifiedFinancialExperts
Investment Fraud Prevention Checklist Reduce exposure to sales pitches. Use care with free lunch or dinner seminars. Avoid high-risk investments. Develop a refusal script. Ask and check the registration status of the salesperson and the investment itself. TRUTHBEHINDNUMBERS.COM CertifiedFinancialExperts
Mortgage and Lending Fraud Prevention Checklist Stop if terms of a loan sound too good to be true. Resist high-pressure tactics. Get referrals to loan and mortgage professionals when obtaining a loan/mortgage. Protect yourself Never make false statements on loan application Overstating income Never sign a blank document containing blank lines. Read all documents before signing. If you dont understand what youre signing, hire an attorney the review the documents. TRUTHBEHINDNUMBERS.COM CertifiedFinancialExperts
Mass Marketing and Other Fraud Prevention Tips Shred suspicious mail. Dont do business with anyone who solicits your money in advance of awarding a prize. Check the credentials of sellers with unbiased, third party sources. Get all offers in writing. Dont deposit checks sent by companies that claim the check is for fees or taxes on lottery winnings. Dont participate in foreign lotteries It is against the law! Dont ever respond to junk mail. TRUTHBEHINDNUMBERS.COM CertifiedFinancialExperts
What Happens if Youre a Victim of Financial Fraud? The road to recovery can be very complex but stress-free if you follow these simple steps to help maintain your funds after suffering from any type of financial fraud: Place a fraud alert with the Credit Bureaus Create a pertinent theft file Maintain all relevant documentation Know your rights TRUTHBEHINDNUMBERS.COM CertifiedFinancialExperts
What Happens if Youre a Victim of Financial Fraud? Report the theft to the Federal Trade Commission Federal Trade Commission Complaint Assistant (877) 438- 4338 or visit http://ftccomplaintassistant.gov Report the theft to law enforcement Consider placing an extended fraud alert and/or credit freeze Dispute fraudulent activity Consider civil remedies Follow up TRUTHBEHINDNUMBERS.COM CertifiedFinancialExperts
What Happens if Youre a Victim of Financial Fraud? If you do have the unfortunate experience where you suspect financial fraud or have questions about suspicious activity you should act quickly and reach out to a trusted financial fraud examination professional to align yourself with to get the proper support. TRUTHBEHINDNUMBERS.COM CertifiedFinancialExperts
THANK YOU THANKSFOR REVIEWINGTHIS PRESENTATION PRESENTATION BY: VERITI CONSULTING LLC 8111E. THOMASRD. #120SCOTTSDALE, ARIZONA 85251 TEL: (877)520-1280 EMAIL: INFO@TRUTHBEHINDNUMBERS.COM WWW.TRUTHBEHINDNUMBERS.COM
EXPERTTEAM TRUTHBEHINDNUMBERS.COM CertifiedFinancialExperts Liz Monty, CPA/ABV, CFF, CFE, CVA, DABFA Managing Director John White, MBA, CPA/ABV, CFF, CFE, CBA, CrFA, ASA Managing Director
CONTACT VERITICONSULTING LLC CONNECTWITHEXPERIENCED FRAUD, FORENSIC& ECONOMICDAMAGES EXPERTS CALL:877-520-1280 EMAIL:INFO@TRUTHBEHINDNUMBERS.COM PRESENTATION BY: VERITI CONSULTING LLC 8111E. THOMASRD. #120SCOTTSDALE, ARIZONA 85251 TEL: (877)520-1280 EMAIL: INFO@TRUTHBEHINDNUMBERS.COM WWW.TRUTHBEHINDNUMBERS.COM

More Related Content

The Ultimate Financial Fraud Examination & Prevention Checklist

  • 1. VERITICONSULTINGLLC The Ultimate Financial Fraud Examination & Prevention Checklist TRUTHBEHINDNUMBERS.COM CertifiedFinancialExperts
  • 2. What Is Financial Fraud And Can It Be Prevented? Financial fraud is known as a deceptive white collar crime that can be devastating yet manageable for individuals with the correct knowledge and accurate preventative methods. Being well aware of the possibilities in financial fraud could greatly benefit your finances down the road along with knowing when to call a certified fraud examiner if the situation calls for it. TRUTHBEHINDNUMBERS.COM CertifiedFinancialExperts
  • 3. Types of Financial Fraud Bribery, which is simply used to deceive the victim into believing false accusations that might lead them to a financial flourish. Embezzlement, also called larceny, which is the illegal use of funds by a person who controls those funds. Identity Theft, the fraudulent acquisition and use of a persons private identifying information, usually for financial gain. Tax Evasion, the illegal nonpayment or underpayment of tax. TRUTHBEHINDNUMBERS.COM CertifiedFinancialExperts
  • 4. Types of Financial Fraud Elder Fraud is an act targeting older adults in which attempts are made to deceive with promises of goods, services, or financial benefits that do not exist, were never intended to be provided, or were misrepresented. Money Laundering, which is the concealment of the origins of illegally obtained money, typically by means of transfers involving foreign banks or legitimate businesses. TRUTHBEHINDNUMBERS.COM CertifiedFinancialExperts
  • 5. Types of Financial Fraud Mortgage Fraud is a crime in which the intent is to materially misrepresent or omit information on a mortgage loan application to obtain a loan or to obtain a larger loan than would have been obtained had the lender or borrower known the truth. Securities Fraud, also known as stock fraud and investment fraud, is a deceptive practice in the stock or commodities markets that induces investors to make purchase or sale decisions on the basis of false information, frequently resulting in losses, in violation of securities laws. TRUTHBEHINDNUMBERS.COM CertifiedFinancialExperts
  • 6. Who Are Easy Targets? Here are some of the high-targeted victims that criminals prefer when planning their financial attack: Senior Adults, especially those who depend on family and friends for their care or those who have physical or mental impairments. Individuals who are physically impaired. Victims of domestic violence. Near-retirees. Previous victims of financial fraud. TRUTHBEHINDNUMBERS.COM CertifiedFinancialExperts
  • 7. Who Commits Fraud? The offender is commonly between the age of 31-45, and somewhat more likely to be male than female. Strangers Members of various groups, for example, civic groups, community groups, political parties or professional organizations Family members Trusted advisers, for example, accountants, attorneys, investment professionals or bankers TRUTHBEHINDNUMBERS.COM CertifiedFinancialExperts
  • 8. Identity Fraud Prevention Checklist Monitor your bank accounts frequently via the internet. Risk of receiving phony statements Check your monthly statements and verify all withdrawals. Report any suspicious activity immediately Shred all personal financial documents before throwing away. Avoid giving out your social security number whenever possible. Only provide last 4 digits whenever possible Use intricate passwords for all websites. Keep all personal information protected in a locked storage/password protected file. TRUTHBEHINDNUMBERS.COM CertifiedFinancialExperts
  • 9. Investment Fraud Prevention Checklist Reduce exposure to sales pitches. Use care with free lunch or dinner seminars. Avoid high-risk investments. Develop a refusal script. Ask and check the registration status of the salesperson and the investment itself. TRUTHBEHINDNUMBERS.COM CertifiedFinancialExperts
  • 10. Mortgage and Lending Fraud Prevention Checklist Stop if terms of a loan sound too good to be true. Resist high-pressure tactics. Get referrals to loan and mortgage professionals when obtaining a loan/mortgage. Protect yourself Never make false statements on loan application Overstating income Never sign a blank document containing blank lines. Read all documents before signing. If you dont understand what youre signing, hire an attorney the review the documents. TRUTHBEHINDNUMBERS.COM CertifiedFinancialExperts
  • 11. Mass Marketing and Other Fraud Prevention Tips Shred suspicious mail. Dont do business with anyone who solicits your money in advance of awarding a prize. Check the credentials of sellers with unbiased, third party sources. Get all offers in writing. Dont deposit checks sent by companies that claim the check is for fees or taxes on lottery winnings. Dont participate in foreign lotteries It is against the law! Dont ever respond to junk mail. TRUTHBEHINDNUMBERS.COM CertifiedFinancialExperts
  • 12. What Happens if Youre a Victim of Financial Fraud? The road to recovery can be very complex but stress-free if you follow these simple steps to help maintain your funds after suffering from any type of financial fraud: Place a fraud alert with the Credit Bureaus Create a pertinent theft file Maintain all relevant documentation Know your rights TRUTHBEHINDNUMBERS.COM CertifiedFinancialExperts
  • 13. What Happens if Youre a Victim of Financial Fraud? Report the theft to the Federal Trade Commission Federal Trade Commission Complaint Assistant (877) 438- 4338 or visit http://ftccomplaintassistant.gov Report the theft to law enforcement Consider placing an extended fraud alert and/or credit freeze Dispute fraudulent activity Consider civil remedies Follow up TRUTHBEHINDNUMBERS.COM CertifiedFinancialExperts
  • 14. What Happens if Youre a Victim of Financial Fraud? If you do have the unfortunate experience where you suspect financial fraud or have questions about suspicious activity you should act quickly and reach out to a trusted financial fraud examination professional to align yourself with to get the proper support. TRUTHBEHINDNUMBERS.COM CertifiedFinancialExperts
  • 15. THANK YOU THANKSFOR REVIEWINGTHIS PRESENTATION PRESENTATION BY: VERITI CONSULTING LLC 8111E. THOMASRD. #120SCOTTSDALE, ARIZONA 85251 TEL: (877)520-1280 EMAIL: INFO@TRUTHBEHINDNUMBERS.COM WWW.TRUTHBEHINDNUMBERS.COM
  • 16. EXPERTTEAM TRUTHBEHINDNUMBERS.COM CertifiedFinancialExperts Liz Monty, CPA/ABV, CFF, CFE, CVA, DABFA Managing Director John White, MBA, CPA/ABV, CFF, CFE, CBA, CrFA, ASA Managing Director
  • 17. CONTACT VERITICONSULTING LLC CONNECTWITHEXPERIENCED FRAUD, FORENSIC& ECONOMICDAMAGES EXPERTS CALL:877-520-1280 EMAIL:INFO@TRUTHBEHINDNUMBERS.COM PRESENTATION BY: VERITI CONSULTING LLC 8111E. THOMASRD. #120SCOTTSDALE, ARIZONA 85251 TEL: (877)520-1280 EMAIL: INFO@TRUTHBEHINDNUMBERS.COM WWW.TRUTHBEHINDNUMBERS.COM