Lapping Scam Prevention

Lapping scams (a form of embezzlement) are one of the easiest frauds to detect, so lapping scam prevention is common, but easy to resolve by simply providing strong policy controls. As a result, lapping scam protection is an almost pro forma function of iCREDIT.

Lapping Scams: Small Potatoes in a Big Bowl of Trouble

Fraud and embezzlement take many forms. They are part and parcel to default risk. Default risk prevention is the real name of the game. Fraud and embezzlement are small-time loss events compared to losing your entire business. This means lapping scam prevention has to be an arrow in the default risk prevention quiver, right? Having said, lapping scam prevention is actually part of the “secret sauce” structural approach of iCREDIT that makes default risk prevention possible, while still providing elimination of fraud and embezzlement risk. This avoids a much bigger bowl of trouble that nobody ever wants – not investors, lenders or management.

iCREDIT is designed to deal with the totality of the default risk issue and all of the key symptoms of the disease including fraud risk, embezzlement risk, market risk, management reporting risk, funds custody, execution risk, employee management risk, third-party claims risk and many others. The iCREDIT approach is designed to immediately increase your opportunities for higher operating margins and create more operating efficiencies within your company. That means iCREDIT demonstrates a net zero cost of use that comes with no training requirement or administrative load – that’s the whole point of iCREDIT. Call us today and find out how this can be put to work for your company with benefits being realized starting on Day 1.

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