Is Your Employee Lapping The Receivables?

What is Lapping? Lapping is an asset misappropriations fraud scheme and is one of the most common methods of concealing receivables skimming. Lapping is the fraudster’s version of “robbing Peter to pay Paul”. It is the extraction of money from one account to cover shortages in another account. For example, customer A’s payment comes in and… Read More »

10 Red Flags of Payroll Fraud

According to the Association of Certified Fraud Examiners, payroll fraud occurs nearly twice as often in small organizations with less than 100 employees than in large companies and the average instance of payroll fraud lasts about 36 months. Common payroll fraud schemes include: Ghost employees – a person not employed by the company who is… Read More »

Local Woman Admits Stealing $2 million from Boss

A St. Louis woman pleaded guilty to a federal mail fraud charge Thursday and admitted stealing more than $2 million from her boss over a decade. How She Did it Elizabeth Earnest, 62, worked for the businessman, whose name was not disclosed, since 1997, managing his calendar and paying his personal bills with his checkbook.… Read More »