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Types of Financial Fraud in Business

Business fraud can cause a serious impact on any particular organization. Nowadays, there are different forms of fraud. Some of them include bribery, corruption, asset misappropriation, and financial statement fraud. Usually, fraud done by an employee is likely to involve several types of fraud. Remember that business fraud is never easy to detect. This is because it cannot show up in the company’s official accounts system. The right way of detecting this particular form of fraud is to get a tip from a customer, an outside vendor, or from an employee. The following are some types of fraud in business:

Asset misappropriation

asset fraud 51a51This is a form of fraud which involves a staff member using his or her position to steal from employers. This type of fraud is usually done by persons trusted to manage the assets and interests of a company. They can include directors, senior employees, and board members. It can include theft of business formulas, sensitive data, patents, theft of vouchers or credit notes, theft of money, check forgery and inventory theft.

A company which suffers from the asset misappropriation is likely to experience issues with cash flow. Moreover, it can negatively impact the morale of your staff and the reputation of the company. It is estimated that over 90% of business fraud is a directly related to asset misappropriation. This explains why it is a common issue.

Bribery and corruption

This is a common issue when it comes to business fraud. Although it is less common as compared to asset misappropriation, an average cost of bribery is considerably higher. In fact, it can exceed $100, 000 per case. The type of scheme, in this case, is very broad and includes manipulation of contracts, substitution of inferior goods, shell company schemes, kickbacks, and bribes to influence decision-making.

Financial statement fraud

financial statement fraud 7u81This type of business fraud is less frequent as compared to other forms of fraud. It is estimated that it can make a company lose about $3 million per case. In this case, an individual or entity falsifies income or earnings reports with the intention of making financial gain. Also, it includes manipulating a business’s records to get more favorable loan terms, influencing the stock price, and getting high end-year bonuses.

The above are some types of business fraud. Understanding them can help you manage your business prudently. You can hire a business forensics expert to carry out investigations for your business.…

ed3v network cabling

Mistakes to Avoid When Installing Network Cables

If you have moved to a new home, then you may be thinking about the installation of network cables as the first task to undertake. It is a good idea to look at common mistakes people make when they install network cables. In this way, you can avoid doing those mistakes.

Using separate cables for data and voice

network cabling 5t1aThis is one of the common mistakes that are made by people carrying out network cabling in buildings. In the past, twisted cabling was quite expensive, and people opted to install different cabling for both. Nowadays, cabling is not expensive. Latest phone systems need data-level cabling. This means that you do not have a choice but choose the right cabling which supports both. Not taking into account about the possibility of installing these systems in future is another serious mistake.

Compromising with quality

Remember that network connection is not temporary. With these advancements, it will be a serious mistake to choose cheapest and basic cables available. Even if it is not a must to choose high-end cables, it is a good idea to choose quality Ethernet cables that can facilitate robust connection. For example, you may be in need of 20 Gbps right now, but in the future, you want 100 Mbps.

Cabling parallel to the electric cables

When you install networking cables parallel to the electric ones, you will disturb magnetic field of cables, and this can cause serious disruptions. Moreover, you may end up losing the transmission at certain times or even slow down communication. Therefore, you need to choose the right cable path rather than going randomly.

Cutting cables too long/short

You should avoid wastage of cables at all costs. You do not need cables that overstretch to get to their destination. Therefore, you should carry out exact measurements of the connections and add some inches for ease. Long cables can also be a serious problem. Every cable has its capacity. Therefore, if you choose lengths that are longer as compared to their competence, you are likely to face frequent and slower disruptive connections. Thus, you should take into account distance limitations.

The above are some mistakes that are committed when installing networking cables. It is a good idea to hire experts to carry out the installation work. Although it might be time-consuming, it will save you a lot on future maintenance issues. Never go on with a poor installation. Plan well in advance to ensure your cables come in handy in the long run.…