by Royer Advisors | Dec 11, 2024 | Business Plans, Fraud Prevention
The average cost of a data breach has risen to a record high, according to a new study by the independent research firm Ponemon Institute. The study found that the global average cost grew from $4.24 million per incident in 2021 to $4.35 million in 2022, an increase...
by Royer Advisors | Dec 11, 2024 | Business Plans, Fraud Prevention
When criminals steal an individual’s identity, the victim can take steps to minimize potential damage by, for example, notifying credit agencies and freezing bank accounts. But what happens if cybercriminals steal a company’s identity and use it to engage...
by Royer Advisors | Dec 11, 2024 | Fraud Prevention
Fraud risk assessments have been shown to prevent occupational fraud and limit losses for victimized organizations. According to “Occupational Fraud 2022: A Report to the Nations,” published by the Association of Certified Fraud Examiners (ACFE), these...
by Royer Advisors | Dec 11, 2024 | Financial Planning, Fraud Prevention, Tax Planning
The IRS compiles and shares a list of common tax scams each year. This year, with the COVID-19 pandemic complicating tax matters in numerous ways, scammers are becoming more aggressive and sophisticated in their methods. Here are some of the scams you should look out...
by Royer Advisors | Dec 11, 2024 | Fraud Prevention, IRS Regulation
What should you do if your company becomes the victim of a W-2 scam? The IRS recently explained how to report the scam and your next steps (and how to avoid being taken in by this scam!). What Is A W-2 Scam? Any company can be the target of a W-2 scam. These scams...
by Royer Advisors | Dec 11, 2024 | Business Plans, Fraud Prevention
Would you leave the front door of your house unlocked? Probably not. What about your business or not-for-profit organization? Even more unlikely. While we like to think the best of our fellow Mainers, leaving the front door unlocked would welcome in the thieves. Not...
