Crooks cleaning out bank accounts of small businesses

Another article describing how the bad guys are using ‘phishing’ emails to plant key-stroke loggers on unsuspecting small business computers and thus gaining bank account log ins.  Eventually crooks clean out a lot of money before getting detected or the account is drained.  Frequently, the banks can walk away from any liability since the log-in data appeared to be legit and the problem originated on the customers computer.  Wall Street Journal article here.

Preventive techniques suggested in article:

Organizations can work to break down the fraud triangle

Having discussed the fraud triangle, you may wonder if there is anything you can do in your organization to stop the three sides of the fraud triangle from coming together and igniting into a disaster.  Well, you can not absolutely prevent fraud.  However, you can work to minimize the risk on each side of the triangle and as a result greatly reduce the danger of fraud.  Some of the things you can do as an organization are discussed here, here, and here.

New blog –

I started a new blog today, Attestation Update, It will provide news and updates to the CPA community on audits, reviews, and compilations.  Some posts are only at the new site and some attestation posts will be left here. In the future, posts that are focused more on the CPA community will be at the new site.

Why make this change? I realized there are very two distinct audiences for my writing:  the non-profit community and CPAs. While there is a lot of overlap, particularly with the CPA firms in Southern California with whom I count as friends at the same time as competitors, the interests are very different.  Thus, two blogs.  This will allow for more focused attention by time constrained readers.  Enjoy them both!

The writers of a made-for-TV movie “get” the motivation part of the fraud triangle

Watched a few minutes of a TV movie.  The main character was busy lying to police as she framed a co-worker for hacking the bank’s computer system to hide her taking unidentified valuables out of safe deposit boxes and transferring who-knows-how-much money between accounts so she could get her hands on it. (more…)