Damien Chaminade, CFE
Damien Chaminade, CFE, is senior manager at Mazars Consulting in France. He can be reached at: https://fr.linkedin.com/in/damienchaminade.
Poor bank account management yields fraud
In our firm’s recent assignments, we’ve faced several fraud schemes at our client companies because of poor bank account management. We’ve been amazed at the lack of internal controls. We observed these frauds on several continents, regardless of the maturity of company internal controls. In some cases, companies have lost a great deal — in finances and reputation. Executives in these companies, including the boards, have, of course, reacted strongly.
Written By: Damien Chaminade, CFE
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