Convenience versus Safety:  An IoT Conundrum By:  Dorothy Riggs, CFE The Modern Conveniences of Technology Did you ever think you would see the day that your music of choice could be streamed through your refrigerator? Technology makes it possible.  Today there are fridges, stoves and laundry machines that you can command or chat with via text message.  With the touch of a finger, smart applications allow us to connect to and communicate with all of our devices from practically any destination in the world. Not only can your devices communicate with you, they can also communicate with each other. icontrol’s 2015 State of the Smart Home Report predicts that a typical family home could contain more than 500 smart devices by 2022. Because of the value individual and commercial consumers place on efficiency and accessibility, many products are now available, like mobile banking which allows completion of a variety of financial tasks via smartphone, such as...

Cyber Security: A Worldwide Issue By: Dorothy Riggs, CFE Who Dabbles in Cyberspace? October is National Cyber Security Awareness Month (NCSAM) , which was designed to involve and inform the public regarding cyber safety issues.  One thing Hillary Clinton and Donald Trump agreed on during the first 2016 presidential candidate debate held on September 26th, is the fact that cyber security should definitely be a top priority for the United States Government. And I’ll add, for the world at large given that so many players worldwide conduct cyberspace activity. For those of you who may have been stuck in a time warp, cyberspace is described as the realm where electronic or computer network communication occurs. The make-up of the cyber realm is vulnerable to a vast spectrum of risk, which is why this issue is so important.   Nowadays most people use some type of electronic computer product. Reportedly American adults spent eleven hours per day using electronic media de...

The Pigeon Drop Leaves Victims in Stinky Situations By:  Dorothy Riggs, CFE Last week’s Fraud Sense article was about elder exploitation.  This week I’ll be discussing the Pigeon Drop, where perpetrators largely, but not exclusively, target senior citizens. Another group often targeted by Pigeon Drop con artists is tourists.  Basically, anyone who is assumed to have quick accessibility to cash is a suitable mark. Crooks zone in on older people because they often have their life savings socked away somewhere close by.  Tourists are assumed to also have easy access funds at their fingertips. After all, who travels to world renowned vacation destinations with empty coffers?

Elder Abuse:  Financial Exploitation Served Up by a Trusted Friend By: Dorothy Riggs, CFE Susceptibility Gives Entrance to Maltreatment Among the most unnerving types of fraud cases I’ve investigated is elder exploitation.  It’s gut-wrenching to discover that someone has purposely taken undue advantage of one of our most vulnerable citizens. The elderly have an elevated susceptibility to abuse due to the following details: Many elderly people are often lonely and treasure interaction with and attention from anyone. Elderly people are generally very trusting and generous. A lot of senior citizens are mentally and physically frail. Abusers who use these circumstances to manipulate seniors are businesses, strangers, friendly acquaintances, caretakers, healthcare providers and family members.  YES, family members! At a time when they should be served kindness and compassion many seniors are presented with cruelty and dispassion.  Ill-treat...

Poor Ethics:  A Gateway to Ruin By Dorothy Riggs, CFE Recent news reports of the latest Anthony Weiner scandal , once again brings the discussion of ethics to the tips of our tongues.  When it comes to committing acts of questionable behavior Mr. Weiner is definitely not on that crooked path by himself.  Time and time again we hear of politicians, employees, businessmen, educators, husbands, wives and so on who are caught straying away from the straight and narrow. These wandering acts often lead to catastrophe.  Surely no one intentionally sets out on a path of destruction. So, what leads them to a trajectory of ruin?

The Fraud Triangle: Businesses get Burned by the Man-in-the-Middle By: Dorothy Riggs, CFE By: Dorothy Riggs, CFE The fraud triangle involves three major components; pressure, opportunity and rationalization. Mixed together, these ingredients explode causing significant losses for businesses of all classifications. Recent reports indicate that a typical organization loses 5% of annual revenues to fraud.   The Incendiary Mix of Fraud Triangle Ingredients Pressure is felt by potential fraudsters.  It may stem from financial, health, blackmail, psychological, lifestyle dependency or other issues that are of monumental importance to the affected individual.  He or she looks for some way to relieve the pressure by eliminating the immediate issue, if only temporarily, until they can find a more permanent fix. Opportunity is present when the fraudster identifies and takes advantage of circumstances in order to illegally and deceitfully obta...

What Could Bargain Products Really Cost You? By:  Dorothy Riggs, CFE Most of us want to be good stewards over our finances so we often look for ways to save money, which leads us into the world of potentially dangerous bargain temptations. However, the next time you spot what seems to be a bargain, think before you buy.  The word bargain implies that something is a ‘good deal’. You’re getting something of value for a discounted price. Don't be so quick to believe that. Sure, true bargains do exist. But, some bargains are much less than meets the eye and could cost you a lot more than you bargained for.