Tax Day is just around the corner, which also means the peak of tax-related scams. The IRS annually compiles its list of the “Dirty Dozen,” or the worst tax scams. For the complete list visit IR-2019-49. Here are two common scams that often target taxpayers: Phishing – These types of schemes come in the form [...]
Dan Montgomery, CPA, provides some insight in preventing and detecting fraud through effective and practical internal controls for our Nonprofit Video Series.
Internal fraud, also called occupational fraud, is defined by the Association of Certified Fraud Examiners (ACFE) as “the use of one’s occupation for personal enrichment through the deliberate misuse or misapplication of the organization’s resources or assets.” Included below are some interesting statistics related to Occupation Fraud as reported in the ACFE's 2016 Global Fraud [...]
Credit card fraud is a growing problem for charitable organizations. Nonprofit entities that seek to simplify online charitable giving are particularly vulnerable. Targeting Nonprofits Donations are crucial for nonprofits, so organizations often bypass online payment safeguards that can help prevent deceitful practices. This allows scammers to use nonprofits to quickly test many stolen credit card [...]