We've talked about Shark Tank... Now let's talk about the other Business-Meets-Reality TV Show, "American Greed". Check out this amazing infographic: "The Ten Worst Corporate Accounting Scandals of All Time".
More than $250 billion vanished! Can you name the perps? When you're finished, take a moment to look at your own business. Is it fraud-proof? If not, read my earlier post on how to
I recently discovered a number of businesses in the USA that are helping the Russian Mob rip people off. If you sell a product, your company could be one of them.
I'm not kidding.
HP and Office Max are on the list. So is PayPal. And hundreds of other companies that sell products online are also, unknowingly, helping criminals get rich.
Maybe you already know that someone stole my
Is there a thief working in your office? I'm not talking about a convict wearing an orange jump suit. I'm talking about a well dressed employee who is, at this very moment, ripping you off for thousands -- maybe millions -- of dollars. Would you even know if your employees were committing financial fraud and embezzlement?
Corporate embezzlement and fraud are tough to spot,
You earn your money. But if you get paid by credit card, you're giving away 3% to VISA and MasterCard.
Said another way - you're paying credit card merchant fees of about 20 cents for each dollar of profit... 20% of profits just for the pleasure of getting paid.
Crazy, right? You have better uses for that much money.
Fortunately, there is a cheaper way to get paid. ACH – or the
As a business owner, you have drive, desire and dreams of something bigger. Sadly, according to a recent survey by the National Association of Fraud Examiners, you probably also have a higher-than-average risk of being a victim of fraud, with an average loss of $200,000.
Business credit card abuse is a relatively simple (for the employee) and a common avenue for fraud, theft and simple (but
Hard to believe, but the IRS wants to forgive all the taxes you did not pay for misclassified 1099 contractors who should be employees. Ever.
You know the deal. Outsourcing is so easy that you started paying some employees as 1099 independent contract labor too. You save time and paperwork... and a bunch of money on taxes.
But it's not legal, and the penalties are harsh. It's time to
News broke this week of the extraordinary measures that PayPal is taking to deny business account holders access to money legitimately deposited into their accounts.
An emerging social media site called Diaspora reported that PayPal has frozen their account and blocked the release of more than $45,000. Similar stories are coming to light around the world and its not clear what recourse average