Crime coverage limits should be sufficient to cover the potential loss of money and/or securities due to the actions of employees or third parties.
READDenver City Council passed a new bill to curb catalytic converter theft, requiring scrap-yards to send specific information to the city about the seller.
READWith unemployment levels in the United States at a current high, and the unemployment department overtaxed in managing unemployment claims, this area of the government is rife for scams. Here are some next steps to take if you have been a victim of unemployment benefits fraud.
READBeware the wolves in your midst. Internal fraud can be just as costly and frequent as external, but chances are you aren’t ready for it.
READApproximately 76% of districts that purchase Crime coverage only buy the minimum. While $5,000 may seem sufficient, you don’t need a lot of imagination to think of a scenario in which you’d find yourself grossly underinsured.
READThe U. S. Department of Commerce has released figures indicating that employee theft costs U.S. businesses over $40 billion per year, playing a significant role in 95 percent of business failures and nearly a third of all business bankruptcies. Special districts, like most other governmental and business entities, are always vulnerable to internal threats that can come from employees, including managers and even board members. Yet, many organizations still believe it couldn’t possibly happen to them.
READRecently, a friend of mine got a phone call from his bank to alert him that they were freezing his account. The representative described to him a series of suspicious transactions which were indeed purchases he had not authorized. It turned out to be a scam, and if he had fallen for the ruse, he would have given up personal details allowing unscrupulous people to raid his account.
READ