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Getting into factoring is easy, staying profitable is getting much harder. One of the biggest threats to factoring profits is fraud. Anecdotal evidence suggests that fraud in factoring is increasing fast. Because factors work on high volumes and small margins,...
Whitehall Jewellers Inc. said on Thursday that it had fired chief financial officer Jon Browne as a result of an…
#factoring fraud#receivables#SEC
Businesses are unknowingly handing bin loads of personal and company information to criminals which is being used to fuel a…
#bank#data protection#financial services
A judge granted bail to two brothers accused of defrauding a Portuguese bank branch out of $170 million that was…
#bank#Paid#risks
Nine men were indicted on charges of stealing $170 million from a Portuguese bank branch in Florida through what prosecutors…
#bank#Clear#interest
Capital Factors of Boca Raton claims it lost US$30 million because of fraudulent transactions arranged by a New York City…
VAT crime has cost the Treasury millions and it is now aiming to fight back with a new clause in…
#Clear#frauds#insolvency
As value-added resellers (VARs) who attended the joint PKF/CRN Bringing Value to the Channel seminar last week discovered, there are…
Mildred Miller was sentenced to five years in prison for wire fraud. She had filed false accounts receivable to West…
A change in agency reporting practices and another agency starting to report matches to CIFAS when they previously could not,…
#Clear#frauds#insurance
Financial and legal experts have warned that the government's effort to halt the rising tide of business fraud is failing…
The latest CPA Australia survey of 600 small businesses found that 28 per cent of respondents had suffered from fraud.…
A breakdown of trade figures from the Central Statistics Office (CSO) indicates that up to 40% - or some Ђ3.5…