JOIN THE ALLIANCE
TO REDUCE THE RISK OF FRAUD
FOR YOUR ASSOCIATION
F
HAVE A FRAUD EXPERT REVIEW YOUR CURRENT PRACTICES AND MONITOR 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
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THE OWNER OF AMERICAN PROPERTY MANAGEMENT IN NAPLES FL BOUGHT A HAWKER JET AND FLED TO SOUTH AMERICA WITH MILLIONS IN RESERVE MONEY FROM DOZENS OF ASSOCIATIONS
BLACK BEAR RESERVE HOA HAD 1.5 MILLION EMBEZZLED
DAVID KOBBERMAN, HOA MGT EXECUTIVE ADMITTED EMBEZZLING 1.1 MILLION
BOARD MEMBERS OF WHITEHALL CONDOMINIUM IN WEST PALM STOLE OVER 1 MILLION OF RESIDENT'S MONEY