Pennock Consulting Group, Inc.

DON’T BE THE VICTIM

Fraud Prevention & Survival Tips

Why Do You Need It?

DON’T just hand over your information ASK:

Why they need it

What will it be used for

When it is no longer needed how will it be disposed of

If the answer to any of these questions is “I DON”T KNOW” you should think twice before handing your information over.

You Are Not An Inconvenience

Prevention is better than cure! We don’t wear bug spray because it smells nice. Asking about a procedure is reasonable expectation of a client. You have a right to know what could become of your personal details. The best customer service in the world is worth nothing if an individual is able to steal your social security number as a result of poorly trained associates.

Don’t Accept “Well It Happens”

While fraud does happen it can be prevented in many cases. Putting profits ahead of customer information security is not good business or customer service.

Choose carefully who you do business with. One breach can happen but if lessons are not learned then you should seriously consider taking your business elsewhere.

Profits Before Security

Banks and other service industries build the cost of fraud into their pricing. Many only make a vague attempt at preventing fraud when they could be cutting it dramatically.

Short term gains and the bottom line are often put before long term sustainability. Offers to lure new customers instead of taking care of the old ones and their information are all too common.

TJX Companies and Citi Group are prime examples.

Who are You Really Dealing With

Referrals from friends are great but you still need to do your due diligence. “They are from our Social Group” is not enough to let them start work without doing your own due diligence.

Check: Licenses, Insurance, Permit

Public Records, Tax Liens, BBB

References, Name Change

Written Contracts

Don’t Be Rushed

We live in the land of freedom and choice so don’t ever let someone tell you the deal is only good for a limited time. Maybe that deal will be gone but another will arrive right behind it. Special offers are designed to make you feel like you can’t live without taking advantage. Believe me you can! Taking the time to stop and think could save you a major headache in the long run.

Make a Point Get Educated

Until we as consumers make a stand and show that we are fed up with being taken advantage of organizations will not take fraud as seriously as they should be.

As with medicine, prevention is better than cure. Being cautious and knowledgeable is key to preventing fraud. If you do not look out for yourself and those around you fraud will come and find you.

Most Importantly

★Have a plan in place before you become a victim

★Keep track of all your accounts and their balances, check statements regularly

★Check your credit report regularly

✦Get in the habit of asking “why do you need that can you use something else?”

✦Don’t respond to emails asking for information about you

✦If you do become a victim report it immediately no matter how ashamed you feel you have no reason to be, Fraud happens to the best of us.

About UsAmy PennockPresident

Amy is a Certified Fraud Examiner (CFE) who has been practicing managerial accounting for 15 years. She has served as Assistant Controller in public healthcare, Administrative Services and Internal Auditor in government healthcare and Controller in civil construction. Her specialties include administrative management, investigations of employee and vendor fraud, as well as transaction reconstruction, financial investigations, internal controls/risk assessments, fraud prevention education and identity theft risk management for both businesses and individuals. 

Sharon M. ShawPartner

Sharon is a Certified Fraud Examiner (CFE) with over 15 years of experience in project management, process improvement and fraud prevention and investigation.

Sharon currently specializes in reconstructing financial transactions and performing large complex financial investigations, which involve multiple jurisdictions and targets. Recent cases she has investigated have included the theft of over $8 million from a Title Company’s escrow funds, a securities fraud, which lost over $1.2 million in elderly investors funds and multiple cases of money laundering.

Sharon is an advocate for fraud prevention education and is a past Director and Vice President of the Tampa Bay Chapter of the Association of Certified Fraud Examiners.

CONTACT US

Pennock Consulting Group, Inc.PO Box 952294

Lake Mary, FL 32795

Office:321-257-9068Fax: 888-752-8483

PresidentAmy Pennock, CFE, CITRMS, CICA

Phone:407-406-4160

PartnerSharon M.Shaw, CFE

 Phone: 727-674-8442