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Document Counterfeiting

Unless you’ve been bitten, most companies are unaware of the growing problems related to counterfeiting and illegal duplication of valuable documents. Did you know that… Statistics from the Association of Certified Fraud Examiners show that, on average, small businesses that fall victim to fraud will lose $190,000 – twice the amount lost by larger corporations. […]

Don’t Write Off Cheques, Financial Experts Say

LuAnn LaSalle MONTREAL— The Canadian Press Cheques may seem old-fashioned in a world besotted with electronic transactions, but is it time yet to write them off entirely? Cheques are comparatively costly, take longer to process and are a good deal more bothersome than swiping a piece of plastic. Nevertheless, the paper payment system still has […]

Toronto Area Employee charged in $2.2M Fraud

Toronto Area Employee charged in $2.2M Fraud An internal accounts payable audit recently revealed that an employee at liquid dispensing equipment manufacturer Hibar Systems allegedly stole $2.2 million from the company, Durham Region News, and the Toronto Star reported on June 4th 2011. Lynda Janet Dingwell – a senior employee in the company’s accounts payable […]

Industry Experts: Cheque Fraud still a huge issue

Recently, I had the opportunity to hear two experts speak on the topic of fraud.  Jas Anand – Senior Director, CIBC Fraud Strategy, had some surprising stats prepared for his presentation.  Here are just a few: Over 5 billion cheques are processed in Canada per year, totaling over $41 Trillion dollars. Commercial and business transactions […]