Why Fraud Law Alert?
The Fraud Law Alert is a highly practical blog that focuses on brief, timely, and useful news stories and legal developments about fraud that every company needs to know.
To begin with, fraud is widespread because it exists most everywhere people go. Fraud occurs in the context of many relationships, such as business-to-business, business-to-consumer, business-to-government, employment, as well as in the world of investments/securities. Seen this way, fraud cuts across virtually all legal practice areas. Applying fraud principles to these kinds of relationships really is a practice area in its own right deserving its own unique focus.
In addition, by keeping fraud top of mind, your company will be better equipped to prevent/minimize its fraud losses and to recover such losses using time-proven strategies.
To illustrate, one kind of fraud that exists in virtually every organization is employment fraud. A common scenario involves employees who falsify vendor invoices or other company records to embezzle company funds. Preventing/minimizing such losses begins with understanding how widespread fraud is and then implementing internal financial controls and retaining top notch auditors as an external control. Recovering related losses, among other things, involves pursuing the fraudster, anyone to whom he fraudulently transferred assets or with whom he may have acted (e.g., fraudulent transfer, conspiracy, alter ego, agency, aiding/abetting), as well as any other viable recovery source.
Employment fraud is just one form of fraud. The Fraud Law Alert exists to keep your company fully informed through brief, timely, and useful posts about fraud both to help you prevent/minimize your fraud losses as well as to recover them.