19 July, 2010


Job scams are another scheme devised by online fraudsters to further rip money off the pocket of their victims. People are more likely to fall victim to this kind of scam as the global economy is still feeling the effects of global financial crisis. Job scams perpetrators promise bogus job offers that range from online to offline job offer to their victims. In this article are list of common job scams and the catchy phrases used by job scammers and what you should do to protect yourself from being a victim of job scams.


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Ask questions: ask intelligent questions that will help you uncover the true intention of the person you are dealing with. Question like how many people have you helped to get jobs in this industry may open loopholes to you as a job seeker.

Perform whois of the web address: whois search is an act of finding the true identity of the owner of a web address. Though some privacy services are purchased in this regard to protect people’s identity but certain information can still be obtained. The age of the domain name and expiration date will give you clue on how credible the site is. Sites that expires say in about two weeks time and are still not renewed will probably be a working tool of job scammers.

Enquire from regulatory authority: if there are government agencies regulating the activities of recruitment companies. Endeavour to enquire from them to see if the company is actually registered.

Consult with your consultant: employ the service of consultants to investigate the credibility of Recruitment Company. This option may however be expensive but, could be considered as an option when the amount you are asked to pay is big.

Don’t be in a hurry: scammers generally have a way of instilling sense of urgency in you to act fast. Shield them as much as possible.

Jobs scams if left unattended will in no distant time erode people’s confidence in doing any legal work and thereby resorting to engaging in criminal activities. Knowing how these job scammers operate can help you stay out of trouble as far as you keep updating your knowledge database of the activities of scammers.

13 July, 2010


Land scam and property scam are proving to be one major source that people lose their money fast to fraudsters these days. The fact that real estate investment makes a good investment has made land scam and property scam to be the toast of fraudsters. Millions if not billions of dollars have been lost to land and property scammers.

This article is written as part of my job as a forensic accountant (fraud fighter) to educate the general public on the activities of fraudsters and other criminals.


In this section of the article are common characteristics of land scam and property scam so, I encourage you to read this section with rapt attention.

Too good to be true: scams in general sound too good to be true once your instinct tells you that an offer is too good to be true, just do your best to investigate the authenticity of the offer. Over 70% of the victims of fraud that I have interviewed admit that their instinct tells them that the offer sounds too good to be true and still go ahead to commit their hard earned money.

Element of sense of urgency: it is as if fraudsters go for training on how to make people believe that a situation is urgent and therefore require urgent attention and action. My standard advice for my clients is to try and exercise patients whenever an agent (land agent or property agent) ask you to forward your money as quickly as possible. One standard lie of theirs is ‘this property will be off if you don’t pay before tomorrow’ I am sure you don’t need me as a forensic accountant to be by your side to tell you that you are trading with the wrong people?

Issuance of fake land / property documents: land fraudsters and property fraudsters are known for issuing fake documents to their preys. You need to carryout your due diligence before entering into contract with any land or property agent. Be sure that he or she is registered with the appropriate regulatory authority. Business name registration unit is the place to go in order to be sure that you are actually dealing with a legal entity. You should however note that certain crooks still go ahead with sharp practices even after registering with the authorities. So, you will do yourself a lot of good by going one or two steps further.

Use of classified ads: perpetrators of land scam and property scams usually make use of classified ads to advertise their dirty business. Classified ads are those advertisements placed on those spaces of newspapers and other media tools. You will notice that one particular ad will run for a long period of time with the same sense of urgency and the same number of properties to let. Just run as far as you can from these kinds of adverts.

I am not in any way saying that all classified ads are fraud oriented but majority of fraudsters make use of this medium as there are relatively relaxed policy that governs the use of classified ads section.

The best way to be free from scam as a whole is to be educated about their operations and to resist temptation and greed.

03 July, 2010


Forensic accounting is that aspect of accounting that deals with litigation and investigative accounting with the aim of presenting evidence in the court of law. Internal thefts are criminal activities perpetrated by employees of an organization. Under normal condition, it is very difficult to curb and prevent internal thefts, but the advent of forensic accounting has helped to expose most fraudulent and criminal actions of employees and other insiders.

Forensic accountants have helped uncover and prevent many occupational frauds and other Ponzi schemes that are engineered by employees. Forensic accounting doesn’t just expose internal theft, certain calculated steps needs to taken to ensure that forensic accounting exposes frauds and other financial crimes.


Further and useful insights into the cause of variances are obtained with the use of forensic tools. Unlike the traditional way of analyzing accounts manually, were variances analyses are done manually on various components of the financial statements. Under the traditional method of variance analysis, a comparison will be made between goods that depleted and the ones that are properly accounted for. Attention shouldn’t be directed solely to negative variances (a situation where the variance analysis shows that the depleted quantity is more than what is recorded).

Apart from analyzing transactions manually, forensic tools employ advanced techniques like biometrics to prevent and deter internal fraud / internal theft. Someone may at this point be saying that implementation of access control and other assets protection methods is the duty of information security professionals. I do agree with you but I would like to make you understand the fact that the bar has been raised on what is expected of the accountants.

Forensic tools are also used to analyse transactions that are performed with the computer. This is especially more important now that the world has developed high dependence on computers and network infrastructures. The complex nature of computer transaction makes it feasibly impossible to perform an effective data analysis in an organization.

Again, the psychological effect that the installment of forensic tools will have on internal thieves is that fear of being caught will be instilled in them thereby deterring them from committing fraud and other economic crime. Even your presence in a company as forensic accountant is enough to make any body that want to steal internally to think twice.

It is important that every accountants and auditors acknowledge the fact that forensic tools and other investigative tools can help relieve them of avoidable stress and heartache.