Posts made in May 5th, 2010

Detecting Fraud

Posted by Doherty on May 5, 2010 in Business Tips | 1 comment

Image by aranarth via Flickr Look for Red Flags to Detect Fraud As more emphasis is placed on reducing the time required to process new applications, funding sources expose themselves to new and different risks.  All businesses are trying to streamline processes and make their services easier for customers to use.  These efforts may unwittingly assist fraud.  So what do you do? Use the smell test – A gut reaction may be your best defense.  If the borrower is in too much of a hurry (“the financing we had fell through and the equipment is being delivered tomorrow”), the deal is too good to be true, or some excuse is given as to why it is...