JOIN THE ALLIANCE

TO REDUCE THE RISK OF FRAUD

FOR YOUR ASSOCIATION

F

 

HAVE A FRAUD EXPERT REVIEW YOUR CURRENT PRACTICES  AND SUGGEST INTERNAL CONTROLS THAT REDUCE THE RISK OF FRAUD

 

AUDITS ARE EXCELLENT FOR KNOWING EXACTLY HOW MUCH WAS SPENT ON LANDSCAPING, UTILITIES, MAINTENANCE ETC. BUT THEY RARELY DETECT FRAUD. IT IS ESTIMATED THAT AUDITS FAIL TO DETECT FRAUD 96% OF THE TIME!  HUNDREDS OF CONDOMINIUM AND HOMEOWNER ASSOCIATIONS WITH AUDITED FINANCIALS  HAVE LOST MILLIONS OF DOLLARS DUE TO A VARIETY OF FRAUD SCHEMES

 

CONSIDER THESE EXAMPLES

 

BLACK BEAR RESERVE HOA HAD 1.5 MILLION EMBEZZLED

 

DAVID KOBBERMAN, HOA MGT EXECUTIVE ADMITTED EMBEZZLING 1.1 MILLION

 

CONTROLLER FOR A PROPERTY MANAGEMENT CO. EMBEZZLED 108.000

 

ACCOUNTING ASSISTANT STOLE 148,000 FROM HAMMOCKS COMMUNITY ASSOC

 

BOARD MEMBERS OF WHITEHALL CONDOMINIUM IN WEST PALM STOLE OVER 1 MILLION OF RESIDENT'S MONEY