Not everyone follows through on their financial obligations to others. In fact, some parties intentionally break the law in an effort to sidestep their responsibilities to others. Businesses that provide goods and services to the public sometimes need to engage in...
Fraud
What must I prove when filing a fraud claim against a vendor?
Texas is known for its conducive business environment and favorable regulations. When setting up a business in the Lone Star state, chances are you’ll need vendors. Usually, these transactional relationships are founded on trust and professionalism, but that does not...
Training your employees to detect wire fraud
Businesses rely heavily on electronic transactions and wire transfers for most of their financial operations. While these methods are fast and convenient, they also have risks, especially in the form of wire fraud. Your employees are your company’s first line of...
Actual fraud vs. constructive fraud: What’s the difference?
Whatever your industry, you have to be on the lookout for fraud. The more money that’s passing through your business, the bigger the chances that someone may try to gain an unfair advantage over another or outright steal. Fraud can be either actual or constructive....
When is someone guilty of fraudulent misrepresentation?
When you enter into a contract with someone, you expect them to abide by the terms they’ve agreed to. If they fail to do that and you or your business suffers harm as a result, you can sue them for breach of contract. You may also (or instead) be able to take legal...
What is fraudulent conveyance?
Fraudulent conveyance refers to the illegal transfer of assets from one party to another with the intention of depriving creditors of their legitimate claims. A transfer of assets can be made in various forms, such as gifts, sales or other arrangements that may not...
Is your partner defrauding the company?
When first launching your company, you believed that you could take the world on your own. Although your business was successful, it soon became apparent that you would need some support. You decided to take on a team of staff and a business partner. You chose a...
2 ways you may experience supplier fraud
Suppliers play an integral role in the operations of businesses as they provide the products and services needed to run. Thus, business owners strive to have positive relationships with them for smooth operations. However, a supplier may commit some unlawful acts to...
Avoid being victimized by contractor fraud
Here in Houston, just miles from the Gulf of Mexico, we make a prime target for hurricanes, tropical storms and even flooding from especially heavy rains. When natural disasters occur, another unnatural disaster typically follows – storm-chasing “contractors’ looking...
2 steps you can take to protect your business from employee fraud
Employee fraud can have far-reaching implications for your business. Besides financial loss, the legal implications of having your customers’ data compromised can be overwhelming. If you are a victim of employee fraud, it is important that you take appropriate steps...