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Home | Fraud Search 
Free Report!
Proven Methods For Reducing Losses to Fraud

If you sell goods or services on credit, you're on the front lines against all kinds of fraud artists. Here we've compiled everything you'll need to establish bullet-proof anti-fraud procedures for your credit and collection operation. From years of experience, we know it's far more cost effective to have systems in place to spot fraud up front, before it happens, than to try to get your money back after-the-fact. That's nearly always impossible. In this section of our site you'll find a series of best practices that will help you and you staff setup a world-class system for minimizing business credit fraud in your operation. We've culled these from the best fraud fighters anywhere, from Warren Buffett's and Howard Schilit's techniques and observations to the wisdom of Credit Today's Rob Lawson. Rob formerly headed up NACM's Loss Prevention Department and was a regular lecturer at the FBI Academy at Quantico on credit fraud.

Signs of Deterioration - And 18 Things Sales Should Tell You About
"As you administer your accounts, warning signals begin to appear, especially when an account is deteriorating," notes one experienced credit analyst. "These signs aren't always indicators of impendin . . . keep reading
Forged Signatures
Mary Fuller insisted that the signatures on four sales slips she demanded to see when she disputed her bill were forgeries. But Jeff Chance, credit manager of Sensational Fashions, thought otherwise. . . . keep reading
Identifying and Preventing Credit Fraud
Credit criminals never sleep, so neither can you. They will always be thinking up new scams to trick the unwary. Your best defenses are relentless vigilance, a deeply suspicious nature, and a strict p . . . keep reading
Are You Watching For Fraud?
There are several warning signs you need to watch out for if you want to prevent losses from fraud. No one warning sign means you should immediately claim fraud, but if you notice anything out of the . . . keep reading
"Stop, Thief!"
As a credit staffer, you are your company's first and best line of defense against fraudulent customers. Here are the warning signs of a scam artist at work that you should familiarize yourself with: . . . keep reading
Bulk Sales Laws: Can Ed Recover His Goods?
"Today, Centerville. Tomorrow, the world. Huh, Ed?" Ed Martin, owner and operator of Martin's Patio Furniture, was puzzled listening to a phone call from Tom Kerr, a sometime business associate. . . . keep reading
Busting Up Bustouts
When it comes to the problem of identifying and dealing with bustout artists, some fundamental procedures can go a long way, according to Charles Zurcher, credit manager for Nucor Steel (Plymouth, Utah). He's come up with a successful, three-step approach for squelching potential bustouts before his company gets burned. . . . keep reading
Here Today, Gone Tomorrow
A customer that skips, while nothing new, is a growing problem. "They were paying on time, and, the next thing we knew, the doors were locked and they were gone." With the deepening recession, we're h . . . keep reading
A Simple & Free Way to Check the Background of a Web Site
Here's a handy and free Internet-based tool you might want to keep in your toolbox to use when you want to do some extra digging on a potential customer you're not sure about. Sometimes, you'll run into a customer with a decent-looking web site, but for whatever reason, your traditional sources of information haven't given you as complete a picture as you'd like. . . . keep reading
A Real Order From Nigeria?
The order was for 20 our Forms & Procedures Manual, by far our most popular book. That's a somewhat large order for us, since most orders c . . . keep reading
Checklist: Major Online Seller's Top Seven Risk Factors of Fraud For Web-based Orders
As Internet-based orders rise, so does fraud. Here are the seven risk factors you need to watch out for if you want your profits to keep track with your Web sales. Once you have a distribution . . . keep reading
Three Ways Warren Buffett Looks for Questionable Accounting
In one of his letters to Berkshire Hathaway shareholders, legendary investor Warren Buffett offered three tips for ways to spot questionable accounting. While the advice is meant for investors, it is equally applicable for all credit execs. The problem this solves is significant. When looking for accounting problems, you've got to know where to start, and if you don't have a valid "filtering" mechanism, you'll have to dig very deeply when examining the financials at all of your accounts. These tips offer a great blue-print for which accounts to examine more closely. . . . keep reading
Press Release: NACM's Asset Protection Group Partners With Verifraud
February 4, 2009
For Immediate Release Columbia, Maryland: February 4, 2009--The National Association of Credit Management (NACM) is pleased to announce that NACM and Verifraud have reached an agreement wher . . . keep reading
Wiser, Faster, More Nimble
Allegations of accounting fraud that was "neither particularly sophisticated nor ingenious" have been made by creditors burned in the Archway & Mother's Cookie Company bankruptcy. The creditor . . . keep reading
How Can I File a Commercial Fraud Report?
January 21. 2009
The President of our company just told me a large company check we issued to one of our suppliers was stolen, altered and cashed. He contacted the police department to file a report. They told him to contact the credit reporting agencies. I have done this as a consumer, but never on the commercial side. (I know NACM has an Asset Protection Group.) I pulled up the Experian website, called a number and went into voicemail maze before it hung up on me. I spent a chunk of time looking all over the website for a potential lead on filing a commercial fraud report. Before I spend a lot more time trying to chase down how to do this, has anyone on the list filed a fraud alert on their own business report? Any suggestions would be helpful. . . . keep reading
Lessons from a Master on Recognizing Questionable Accounting Practices
Lessons from a Master on Recognizing Questionable Accounting Practices Do You Have a Customer on the Way to Being the Next Enron? Will You Be Able to Spot Them in Time to Save Your Company Money? We recently had the opportunity to sit in on a talk for securities analysts by accounting professor-turned top Wall Street advisor-Dr. Howard Schilit. "This is a great time for accountants," said Schilit, who describes himself as financial statement pathologist. In today's post-Enron climate, he said, "We are treated like rock stars!" . . . keep reading
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This month's topic: Processing of Credit Applications

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  • What the primary challenges are relative to the processing of credit apps
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