Fraud usually happens in offices where the same person is doing all the data entry, bookkeeping and bank reconciliation. One person in the office controlling all of these things will always mean that others are left in the dark. In most cases, the perpetrator has been at the office for years and is usually the last to be suspected. There are a number of reasons that a good, loyal employee can turn to crime so protect yourself and always be aware that it CAN happen to you.

Here is your fraud protection tip of the month:

Have a different person processing the bank reconciliations and reviewing your books. If you do not have a qualified person in your office to do this, contact Wolf Watch today to see how they can help.

Our team of experienced accounting Wolf Watch Technicians are trained to review and clean up your books or process and clean up bank reconciliations. They can be hired on a monthly plan or hourly basis. Wolf Watch will review your books to ensure that all your sub-ledgers and trust liability are in balance, all deals have been paid out in full and that there are no outstanding bank reconciling issues. They will then assist you with cleaning up any discrepancies they find.

If you sign on to a monthly plan, Wolf Watch provides the broker with a financial synopsis after analyzing numerous reports to let you know how your office is doing. By having Wolf Watch processing the bank reconciliations, you get that second set of eyes to help prevent any fraud from happening.

You can send us a snapshot of your books by going into the RMS program, entering the HELP menu and select the Support Request Form. Just click the Wolf Watch Services option in the top left corner and your company information will auto-populate into the form. Be sure to include who we should contact and after we review we will get in touch with you to discuss how we could help your office stay on top of their financial status.

Contact Wolf Watch today at 866-279-9653 or via e-mail at wolfwatch@lwolf.com!