“Snitches don’t have to get stitches” – why you need a Whistleblower Policy in your Organization
“Snitches don’t have to get stitches” – why you need a Whistleblower Policy in your Organization; Introduction; According to the Merriam-Webster Dictionary, one of the exceptions to the semantic realm of ‘snitches get stitches’ is the word “whistleblower”. A whistleblower is defined as a person who reveals something clandestine or who informs against another. In […]
Best Practices for preventing life insurance fraud-post pandemic
Best Practices for preventing life insurance fraud-post pandemic Introduction; Insurance fraud occurs when someone deliberately lies to obtain a benefit that they are not entitled to or fabricates a claim. Insurance fraud can also occur when an Insurer intentionally denies one a benefit that is due, under an insurance policy. While fraud is rampant in […]
Cyber Safety for Children
Cyber Safety for Children Technology is good for our children as it educates and inspires their creativity; it also continues to evolve with the new AI-enabled games and toys. A greater number of children are using technology at an early age and are therefore capable of understanding the gaming tools and toys available to them. […]
The Different forms of payroll fraud and how they can be prevented
In the Occupational Fraud 2022: A Report to the Nations recently published by the Association of Certified Fraud Examiners [ACFE], ACFE highlighted that payroll fraud is among the most common frauds that occur in small businesses. Over the years, the corporate sector has seen an increase in payroll fraud perpetrated by employees altering the payroll […]
Cash Skimming and Cash Larceny in Business
Cash Skimming and Cash Larceny in Business According to Dr. Donald Cressey’s Fraud Triangle, people commit fraud due to three primary reasons; financial pressure, rationalization, and opportunity. Misappropriation of cash is a form of financial fraud that makes up 47% of all fraud cases and among the various sub-schemes that fall under that category, are […]
The importance of extensive Due Diligence in Land Transactions
The importance of extensive Due Diligence in Land Transactions; Introduction Due diligence is a phrase used in land transactions and entails establishing the identity of the proprietors of the land, the actual size of the land, whether the land is encumbered, whether the property exists, and whether or not the ownership documents are in order. […]
Teeming and lading – accounting for the miscounted
Illegal Phoenix Activities in Company restructuring – an introduction;
Phoenix activity in a Company involves the incorporation of a second company from the remains of a failed company.
Forensic investigations in contrived insolvency;
A Company is considered insolvent if it cannot pay debts as they fall due or in the usual course of business. In Kenya, the Law regulating Insolvent Companies’ affairs is the Insolvency Act, No. 18 of 2015 [hereinafter “the Act”].
Reducing Money Laundering Risk
The constant fight to deter financial crimes by government institutions such as the Central Bank of Kenya (CBK) and Financial Reporting Centre (FRC), as well as international agencies, has been a frustrating one as financial criminals adopt new technologies and modern tactics to commit unlawful acts.