Exclusive: Four Signs of Bribery in Business
October 21, 2020 | Fraud
What Exactly is Bribery?A quick explanation: Bribery is the act of offering or giving money/an item of value to someone in an authoritative role for the purpose of influencing their actions.
Though people often perform bribery in businesses for the sake of getting ahead in their jobs or to help the business make shortcuts, you’ll find that it also happens throughout all corners of life. If not in the workplace, you might experience acts of bribery with friends and family too.
The ConsequencesThe appearance of bribery in the workpla…
Exclusive: Protecting Your Business from Fraud
October 13, 2020 | Fraud
Common Crimes in BusinessFor years the world has seen news of people being scammed by companies small and large. But truth be told, it’s more often the companies who are being scammed by customers/clients and their own workers.
But how does it happen? And how can crime be avoided? Well, there are plenty of precautions to be taken. But before looking at prevention measures, you’re better off to start by learning about the six most common crimes in business...
1. Return Fraud
If your business sells goods, you’ve likely already expe…
An Artificial-Intelligence First: Voice-mimicking Software Reportedly Used in a Major Theft
September 18, 2019 | Fraud
Thieves used voice-mimicking software to imitate a company executive's speech and dupe his subordinate into sending hundreds of thousands of dollars to a secret account, the company's insurer said, in a remarkable case that some researchers are calling one of the world's first publicly reported artificial-intelligence heists.The managing director of a British energy company, believing his boss was on the phone, followed orders one Friday afternoon in March to wire 220,000 euros ($380,800) to an account in Hungary, said representatives…
Trade Secrets Theft: Architect Convicted, Sentenced to Community Detention
September 18, 2019 | Fraud
An Auckland architect found guilty of stealing trade secrets from his former firm has been convicted and sentenced to community detention, in what may be a precedent-setting case in New Zealand.Michael Davies was sentenced this morning in the Auckland District Court after a jury decided he had committed the crime of stealing confidential and commercially sensitive material.
The 46-year-old was charged with nine counts of stealing trade secrets for a pecuniary advantage and was found guilty of eight.
On the ninth charge, which relate…
Exclusive: Chance of Getting Convicted of a Serious Crime Nearly 50/50
January 4, 2019 | Fraud
Just over half those facing serious criminal charges in New Zealand in past five years have been convicted.Figures from the Ministry of Justice, released under the Official Information Act, show the conviction rate for murder, rape, robbery, drug offences, fraud and abduction since 2013 sits at 55 per cent. Charges not proved include those acquitted and where charges were withdrawn or dismissed.In that time, 239,345 serious charges have been laid. Some individual crimes result in multiple charges.
Figures from the Ministry of Justice…
Scammers Costing Duped Kiwis Up To $500m A Year
June 12, 2018 | Fraud
Kiwis are losing up to $500 million annually to international scammers and the number of reported incidents has risen sharply this year.Experts say the money is putting a dent in the New Zealand economy with many scams driven by organised crime groups and overseas cartels.
However, actual losses reported to authorities are believed to be just the tip of the iceberg because many victims are too ashamed to come forward to authorities or even tell family members they've been duped.
A Herald investigation has revealed new details about …
Former McConnell Dowell Manager Charged With Stealing $400,000
May 22, 2018 | Fraud
Pago Pago, AMERICAN SAMOA — The woman from Masefau who is accused of stealing $400,000 from McConnell Dowell told a special investigator from New Zealand that she used some of the money to renovate her house, and some was given to family members and friends.This was revealed Wednesday afternoon during Fonotaga Jasmine Faanu’s preliminary examination (PX) in the District Court.
The government accused Faanu of 66 criminal counts — 22 of embezzlement, 22 of stealing, and 22 of forgery — all class C felonies.
However, after …
Still Writing Cheques? Erasable Ink Could Put You At Risk Of Fraud
March 30, 2018 | Fraud
The Pilot Frixion pen series are marketed as erasable gel pens. Other pen makers may offer similar pens. For certain applications, these pens are great. Make a mistake while writing, simply rub away the error, and re-write it correctly.Accounting, finance and bookkeeping departments are not appropriate locations to be finding individuals using these pens. The reason is obvious – once a check or other important document is written, it can be easily changed subsequently, as the ink is erasable. Hopefully I am writing the obvious.
How…
Three Common Forms Of Fraud In The Office
February 22, 2018 | Fraud
Throughout its lifetime, the average small New Zealand business will encounter some form of fraud at least once or twice. Larger organisations face the issue much more frequently, and unfortunately, in many instances, less obvious cases of fraud may go entirely unnoticed.Studies have shown that fraud in the workplace is a growing problem that many New Zealand business owners face – while it should be decreasing in frequency, it is in fact increasing. We therefore suggest that you remain vigilant when operating your own business, wheth…
Romance Website Scammer Takes $600k Life Savings Of Widow In Her 80s
February 14, 2018 | Fraud
Today may be Valentine's Day but for one widow the search for love led to a scammer who took her life savings of nearly $600,000.The Commission for Financial Capability said 12 per cent of all frauds and scams in New Zealand were related to romance.
Bronwyn Groot, fraud education manager at the commission, said a widow in her 80s had joined a dating website but was not getting too many hits and so updated her profile, putting in a lot more information about herself and what she was looking for.
"Lots of information that the scammers…