Category: Fraud Prevention

What’s Next For LIBOR Transition in 2020?

The 2012 LIBOR scandal, in which a group of bankers manipulated the global interbank rate, rocked the financial world. LIBOR, long used to establish interest rates on commercial and consumer loans, is scheduled to sunset in 2021. The question “what will replace LIBOR?” has persisted. Oscar Stephens provides an overview of the current situation and offers a preview of SOFR, the top contender for LIBOR’s replacement. 

Managing Risk in the Marketplace: Advice from the Big Four Appraisal Firms

The economy may be booming, but these are still turbulent times with a shifting environment propelled by tax cuts, tariffs levied against Canada and China, and the possibility of a trade war. For guidance, ABF Journal editor Nadine Bonner turns to executives from the nation’s top four appraisal firms. In addition to a perspective on how technology and globalization have changed businesses practices, they offer sound advice to help ABL lenders steer a steady course and avoid crashing on the rocks.

Anatomy of a Fraud: Playing Defense to Minimize Losses

Joseph Iannuccilli, founder and CEO of Sound Shore Financial, recounts a memorable fraud uncovered by his field examination firm, and illuminates why a field exam is key to avoiding or minimizing loan losses for a lender. In this case, the lender noticed availability tightening, receivable turnover dramatically increasing and the loan balance rising.

Minimizing Fraud… Checks, Balances & Vigilance Go a Long Way

Fraud not only costs a company money, but also can affect its relationship with shareholders, employees, customers, vendors and financial institutions. Riveron Consulting’s Andy Baker explains how strong policies and consistent oversight can go a long way toward minimizing the possibility of fraud.

Detecting & Derailing Fraud

When considering your organization’s approach to detecting, eliminating and preventing fraud, trust your intuition and suspicions, and take a hard look into the facts surrounding any gut feeling you have. Put practical procedures in place, then monitor the environment in high-risk areas. When it comes to fraud, it’s not a matter of “if” it will happen, but rather, of how well you are prepared when it does.