Do You Know the Cost of Fraud?

Every business is subject to the potential for fraud. Every business that does not believe that they can be the victim of fraud needs to assess their operations for red flags that could point to fraud. Fraudsters are very good at hiding their crimes. They are not going to advertise their crime, but many make the mistake of telling a friend or relative of their exploits. When this occurs it is time to hire a forensic accountant.

In other cases there are some telltale signs that fraud might be occurring. A red flag is a set of conditions that are extraordinary in nature or vary from the normal activity. It is an indicator that something is out of the ordinary and may need to be investigated further. Remember that red

flags do not indicate guilt or innocence but merely provide possible warning signs of fraud.

Employee Red Flags

There are certain changes in employee behavior that could point to fraud being committed. The ACFE has identified the following changes:

• Employee lifestyle changes: expensive cars, jewelry, homes, clothes

• Significant personal debt and credit problems

• Behavioral changes: these may be an indication of drugs, alcohol, gambling, or just fear of losing the job

• High employee turnover, particularly in those areas which are more susceptible to fraud

• Refusal to take vacation or sick leave

• Lack of segregation of duties in the vulnerable area

The information provided here gives facts provided by the Association of Certified Fraud Examiners (ACFE) Report to the Nations (2016).

CFEs (Certified Fraud Examiners) estimate the average business realizes losses of 5% of annual revenues to fraud. The median loss from a single case of work-related fraud was $150,000. The study investigated more than 2,400 of these types of fraud cases and the result was that the crimes created a total loss of more than $6.3 billion. More than 23% of work-related fraud cases resulted in a loss of at least $1 million. The three major categories of occupational fraud are financial statement fraud and caused the greatest median loss per scheme:

• Asset misappropriation $125,000

• Corruption $200,000

• Financial Statement Fraud $925,000

When proprietors or executives committed fraud, the median damage was more than 10 times greater than when employees were the perpetrators.

• The average employee fraud was $65,000

• The average manager fraud was $175,000

• The average proprietor/executive fraud was $703,000

The more people involved in occupational fraud, the higher losses tend to be:

• One person $65,000

• Two people $150,000

• Three people $220,000

• Four people $294,000

• Five or more people $633,000

Victim businesses that failed to implement anti-fraud controls realized greater median losses-in fact twice as much. (The amounts below compare those with controls vs. those without controls.)

• Proactive Data Monitoring & Analysis $92,000 vs. $200,000

• Management Review $100,000 vs. $200,000

• Hotline $100,000 vs. $200,000

The most common methods used to detect fraud come from a variety of sources. According to the ACFE these methods are as follows based on the most common to the least common method:

• Tips

• Internal audit

• Management review

• By accident

• Account reconciliations

• Other

• Document examination

• External audit

• Notified by law enforcement

• Surveillance monitoring

• IT Controls

• Confession

If your business has not performed the ACFEs Fraud Prevention Checklist, then it should be done immediately. Preventing fraud is the best way to avoid fraud.

Sports Betting Champ, John Morrison Sports Betting Product Review!

Sports Betting Champ, John Morrison is most well known for his 97% win rate NBA/MLB sports betting system. But, the Sports Betting Champ has also brought us other valuable products. A conscientious of picks called The Sports Pick Buffet, and a daily picks package called, The Champs Selections. In this article, I will provide a little background on the Sports Betting Champ, John Morrison, and review some of his products.

Firstly, Sports Betting Champ, John Morrison, is a world renowned sports handicapper, and professional gambler. In his 28 years, in the gambling world, he is yet to have a losing season. That is why he has earned the name of Sports Betting Champ.

Young, John Morrison, grew up with a passion for sports and numbers. John had great success as a student, in the areas of mathematics and statistics. He would eventually earn his PhD, in Statistics, from Cornell University.

Sports Betting Champ, John Morrison, then went on to make his living, combining both his passion for sports and numbers, in the world of professional gambling. John is well sought after, from people all over the world, for his gambling advice.

Sports Betting Champ, John Morrison, also spent almost a decade, going over the sporting database, trying to find a system that would predict winning outcomes, with the greatest consistency. In NBA basketball betting, in the years between 2003 and 2009 the Sports Betting Champ went a reported 363 wins – 8 losses, in all years combined. And, in MLB baseball betting in the years between 2004 and 2009 John Morrison went a reported 243 wins – 1 loss, in all years combined!

You can see that Sports Betting Champ, John Morrison is truly on to something!

Product reviews

1. The World’s Unbeatable Sports Betting System- This is the where people normally ask if this is a Sports Betting Champ scam. A 97% win rate system? But, the 97% win rate is on bets made, not on games played. True this system is one that is best utilized by a person with a bankroll to back them up. But, it is surprisingly easy to use.

The system determines certain low risk bets, which can be predicted well ahead of time. That translates to only betting about 40% of the time. Approximately, 120 games out of the year between the two seasons. It uses a form of martingale wagering, applied to a three game series. Based on the premise that the team bet is sure to win one out of three games. Once your team wins one in the series, your done betting that series. This system also comes with a 67% win rate NFL system, and lifetime of free picks, well worth the $197 price tag!

2. John Morrison Sports Buffet- The Sports Pick Buffet is a great value. The product is a conscience of opinion from over 500 top handicappers, comprised into a report and delivered to your inbox everyday. The report is compiled by Sports Betting Champ, John Morrison, himself. The report would look something like this:

Compilation of sports picks from expert handicappers for May 29th, 2010

MLB Games

Pittsburgh Pirates vs. Atlanta Braves

1 handicapper picked Pittsburgh to win the game (Hawkeye Sports)

5 handicappers picked Atlanta to win the game (Robert Ferringo, Gamblers Data, The Shark, Kelso Sports Handicapping, Dr Baseball)

Philadelphia Phillies vs. Florida Marlins

6 handicappers picked Philadelphia to win the game (Rob Vinciletti, Vegas Sports Plays, Moneylineking, Scott Spreitzer, Louisville Slugger, Golden Contender)

11 handicappers picked Florida to win the game (Info Plays, Dave Cokin, Tommy Gold, Dimension Sports, The Baseball Handicapper, Hot Lines, Chuck O’Brien, Lenny Del Genio, Mike Hook, Sportsbook Guru, Benjamin Lee Eckstein)

Houston Astros vs. Cincinnati Reds

1 handicapper picked Houston to win the game (Sports Betting Professor)

11 handicappers picked Cincinnati to win the game (Carlo Campanella, Doc’s Sports, Robert Ferringo, Moneylineking, Tommy Gold, Nolan Fernandez, Sports Wagers, Silver Key Pick, Kelso Sports Handicapping, Dr Baseball, Tom Law Longball Sports)

St Louis Cardinals vs. Chicago Cubs

5 handicappers picked St Louis to win the game (Dave Cokin, Chris Jordan, Super Sports Group, Sports Wagers, Kelso Sports Handicapping)

8 handicappers picked the Chicago Cubs to win the game (Sac Lawson, Tom Freese, Dunkel, Tv Hotline, Ben Burns, Igz1 Sports, Ny Players Club, Rudy Nyc Sports)

New York Mets vs. Milwaukee Brewers

4 handicappers picked the NY Mets to win the game (Tommy Gold, Hammerthebook, Sportsbook Guru, Seabass)

6 handicappers picked Milwaukee to win the game (Dave Price, Robert Ferringo, Fasttrack Sports, Ben Burns, Sports Brokers, Vegas Runner)

Los Angeles Dodgers vs. Colorado Rockies

13 handicappers picked the LA Dodgers to win the game (Rocky Atkinson, Derek Mancini, MJP Sports, Dimension Sports, Hondo, Richie Parker, Dave Eckstein, National Sports Service, Al Demarco, Super Sports Group, Sports Wagers, Kiki Sports, Fantasy Sports Gametime)

4 handicappers picked Colorado to win the game (John Martin, Bobby Maxwell, Robert Ferringo, Tom Law Longball Sports)

Arizona Diamondbacks vs. San Francisco Giants

4 handicappers picked Arizona to win the game (#1 Sports, Profit-On-The-Net, Super Sports Group, Kiki Sports)

9 handicappers picked San Francisco to win the game (Larry Ness, Frank Jordan, Raypolaccosports, Papayagang, John Harrison, Kelso Sports Handicapping, Seabass, The Consensus Group, Stumpthespread)

Texas Rangers vs. Minnesota Twins

4 handicappers picked Texas to win the game (Jr Odonnell, Dan Bebe, MJP Sports, Karl Garrett)

13 handicappers picked Minnesota to win the game (David Chan, Cappers Access, Robert Ferringo, Easy Money Sports, Tommy Gold, Dozo Games Handicapping, Insider Sports Report, Super Sports Group, B&S Picks, Executive, Teddy Covers, Tom Law Longball Sports, Ats Baseball Lock Club)

Seattle Mariners vs. LA Angels

2 handicappers picked Seattle to win the game (MJP Sports, Boston Blackie)

3 handicappers picked the LA Angels to win the game (Pure Lock, Platinum Plays, LPW Sportsforecast)

Chicago White Sox vs. Tampa Bay Rays

5 handicappers picked the Chicago White Sox to win the game (Chris Jordan, Michael Cannon, Chuck O’Brien, Sports Wagers, Seabass)

4 handicappers picked Tampa Bay to win the game (Jimmy Boyd, Computer Sports, Dimension Sports, Wagerglobe)

Oakland Athletics vs. Detroit Tigers

6 handicappers picked Oakland to win the game (Marc Lawrence, Lee Kostroski, MJP Sports, Papayagang, Insider Sports Report, Super Sports Group)

14 handicappers picked Detroit to win the game (Gill Alexander, Jeff Alexander, Robert Ferringo, Hawkeye Sports, Tommy Gold, Baseball Crusher, The Shark, JSM Sports, Executive, Sportsbook Guru, Teddy Covers, Tom Law Longball Sports, Dozo Games Handicapping, Greg Shaker)

Kansas City Royals vs. Boston Red Sox

2 handicappers picked Kansas City to win the game (MJP Sports, Greg Shaker)

20 handicappers picked Boston to win the game (Tony George, Jack Jones, Robert Ferringo, Arthur Ralph Sports, Mike Wynn, Derek Mancini, Dave Cokin, Chris Jordan, National Sports Service, Jr Odonnell, The Shark, Igz1 Sports, Rocketman, Jsm Sports, Hammerthebook, Benjamin Lee Eckstein, Seabass, Ats Baseball Lock Club, Dozo Games Handicapping, Stan Sharp)

NBA Games

There are no NBA games played today.

Summary of the recommended bets to make for May 29th, 2010 based on the sports handicappers’ consensus:

“Ultimate Bet” of the day:

[MLB] Most sports handicappers lean toward the Boston Red Sox to win the game at a 20:2 ratio!

(Note: this bet was eventually WON)

“Best Bets” of the day:

[MLB] Most sports handicappers lean toward the Cincinnati Reds to win the game at a 11:1 ratio.

(Note: this bet was eventually WON)

[MLB] Most sports handicappers lean toward the Detroit Tigers to win the game at a 14:6 ratio.

(Note: this bet was eventually LOST)

[MLB] Most sports handicappers lean toward the Minnesota Twins to win the game at a 13:4 ratio.

(Note: this bet was eventually WON)

As you can see this is a very powerful tool. And, the value, Sports Betting Champ, John Morrison is making available. You can easily spent $1,000 a year on gambling advice from one handicapper. The John Morrison Sports Buffet allows you access to the advice of 500 handicappers for the price of one, the information is already data-mined, and made readable to you everyday. Thats close to $500,000 a year in gambling advice from this Sports Betting Champ product. This service is well worth the $125 a month, that’s $3.25 a day. You can get started with a 10 day trial for an unbelievable $5 trial payment.

3. John Morrison Sports Picks- The Sports Betting Champ has put together three separate daily picks, College and NBA Basketball sports bet packages, College and NFL Football sports bet packages, and Year-Round Horse Racing tip packages. The Champs Selections come in three separate subscriptions, two-week, one month, and full year deals. These are the same plays the Sports Betting Champ uses himself. The picks are delivered to your inbox early, leaving plenty of time to get to your favorite sportsbook. The prices vary.

Hold’em Homework – How Doyle Brunson Ruined My Game

Doyle Brunson ruined my game. I was playing pretty decent poker, placing in the top third in tournaments, until I read his book, “Super System: A Course in Power Poker”. After I read the book, the wheels came off! The word DONKEY in flashing neon appeared on my forehead. I’ve never busted out so early, so often and on such garbage cards! Doyle’s “I’m an action man”, loose aggressive style really messed with my head and my game. I swear – that man plays anything!

After I started the UMichiganPoker.com web site and playing in more tournaments, I decided I needed some strategy. I checked out book recommendations at live tournaments, on the 2+2 forums, and on Amazon. After a little research, I had a list of “must read” poker books.

The first book I read was Phil Helmuth’s “Play Poker Like the Pros”. He had a simple strategy for beginner tournament players – play the “Phil’s NLH Fifteen” and fold any other cards. I started following Phils advice in tournaments and started having some success! Phil also had some great advice on how to trap with AA and KK instead of just going all in and hoping for that rare call. The Three theories on how to play pocket 22 to 88 and AQ gave me a lot to think about. I’m still really bad at “Phil’s Game” – Guess your Opponent’s Exact Two Hole Cards. I’ll have to consult the psychic hotline on this one, because other than guessing high pair, low pair, high cards, draw – I’m terrible at guessing the exact two cards. After reading his book, I still don’t play poker like a pro – though I’m a lot better at choosing starting hands and more aware of my opponents hole cards.

After my lessons with Phil and playing in a couple tournaments with my new, tighter starting hands it was time to go back to school. At one of our home games, everyone started talking about tells. One of the home game players had an obvious tell that another player politely pointed out after taking down a big pot. I was as stunned as the player with the tell! I certainly didn’t notice his tell because I was so busy paying attention to the flop and trying to figure out my opponents “Exact Two Hole Cards”. Once it was mentioned, the tell was obvious – even to me, the oblivious one. It was time for “Caro’s Book of Poker Tells”.

Caro’s book was a lot of fun! When the text got boring, the photos were a riot! During the next tournament, I saw a lot of the tells described in the book. The most common one was glancing at chips once a player looked at his/her hand. I could tell which players were going to enter the pot and which ones were going to fold before it was their turn. (The chip-glancers pushed chips in the pot every time! ). Another great tip from Caro was to watch your opponents face during the flop. The cards will be there for the rest of the hand – your opponents expression after the flop is fleeting. There were hands I knew I was going to win right away, and hands I knew I needed to lay down. About an hour into my next tournament, I picked up on another opponent’s tell. My opponent was a very tall man who put his bet further out on the table the stronger his hand. His speech and inflection were confident and determined no matter where the chips were set. We were in a pot together and he put his bet in the center of the table. I folded my pocket fives and he disappointedly flashed pocket kings. A couple hands later the two of us were in a pot together. He must have been on a draw and made a continuation bet about a foot in front of him. I hit trips, but wanted to maximize my chip-ertunity. I took my time and called – trying to show weakness too. After a blank on the turn, he bet again, I called again. The river was another unmatched low card. He checked and I bet half his stack. He called saying I wasn’t going to bluff him out of the pot. I ended up taking first at that tournament. I felt like Caro had given me the key to the kingdom! What a great book!

The next tournament started out great. There was a guy who made it clear that he didn’t want to play poker with a woman. He tried to get the other guys to join in ribbing me. They didn’t want any part of his game – true gentlemen! A couple hands into the tournament I noticed rude guy staring at me as the flop fell. I was trying to get a read on him through the sunglasses at the flop. The next time we’re in a pot together, same thing – we end up in a stare-down waiting for the other person to look at the flop. Finally I winked at him. The guy went on tilt. He called my ever increasing bets to the end and I took a bunch of his chips. He went all-in the next two hands and busted out. I played on for a while and went out in eighteenth place, finding myself short-stacked and desperate for a couple double-ups. I was getting the cards, but not collecting enough chips to make it to the final table. Time for more homework.

This is when I picked up Doyle Brunson’s super thick, super heavy, “Super System”. Again, when the text got a little dry, the photos were good for a laugh. A few pages into the No Limit section, I found I was playing the game all wrong. I was folding those low suited connectors – Doyle raises them. I was folding when my opponents raised in front of me and I had pocket threes. Doyle raises them. Doyle is an “action man” who will win ten pots where nobody has a big hand, then he “can afford to take 2 to 1 the worst of it an play a huge pot.” He already got that pot paid with all the small pots he picked up. Doyle plays pots when he knows he has the worst had. In the book, Doyle plays a very loose, very aggressive game. I wasn’t sure if I could be that aggressive and play that many hands, but I would give it a try in my next tournament.

The day of the next tournament, I re-read some key passages of Doyle’s book – ready to incorporate some aggressive moves into my game. I took down a couple small pots early. Things seemed to be going pretty well early on – I was in a lot more hands, with a lot more of my chips in the pot. All of a sudden – I was out. Stunned and confused, I went home to analyze my early and sudden loss.

I couldn’t get Doyle’s loose aggressive style out of my head. I wanted to play connecters – suited or not. Online I busted out early. In our home game – busted out first or second all night. If there was a game, I was busting out in the first third. I couldn’t figure out how Doyle could be so successful and I could be so rotten (OK – he IS a poker Pro and I am a beginner). Finally I said ENOUGH! Get Doyle out of your head! I taped a notecard to my computer that said: Don’t play crap cards! Stop chasing (unless its cheap)! Slowly, I started losing less often. That’s also when I cracked open “Harrington on Hold’Em”.

Dan Harrington and Bill Robertie methodically showed me the errors of my ways. I regained confidence of when to fold, check and raise. I also learned the power of a continuation bet, a poke bet, and the texture of the flop. Pot odds and “M” were also new concepts that helped me get a good grasp on the game. Dan and Bill did a great job explaining post flop betting and the reasoning behind the bets. I love the hand examples in the book along with the explainations. Because it’s a three volume set, Harrington and Robertie’s books are a long slow read, but well worth the time and effort! We played a heads-up tournament in our last home game. I did pretty well. After the heads-up tournament, we played a couple traditional tournaments – again a respectable showing.

Texas Hold’em is like learning about computers. For each thing I learn, there are five new things I need to learn. My knowledge of the game is growing incrementally while my knowledge of my ignorance is growing exponentially.

As I was flipping through the books again, I noticed an important detail that I overlooked or just ignored the first time through. Doyle was commenting on Cash No Limit Games, not tournaments in Super System. He has a short section in the beginning of the book addressing changes to his game when he is in a tournament. Doyle also tightens up his game for tournament play! He puts the “action man” on hold until the final table. Doyle is a smart, aggressive and shrewd player with a lot of wisdom and experience to share. Here are some of my favorite gems from Super System:

Be highly competitive…but do it with class. (p47)

I want to put my opponent to a decision for all his chips. (p442)

Always remember…No-Limit Hold’em is a game of position – and people. (p444)

You can’t play winning Poker by playing safe all the time. You must take chances… gamble. And you have to feel aggressive to play aggressively. (p458)

The important thing to remember is that anytime there’s a possible draw on the Flop: you should almost never check – you should almost always bet. (p477)

By Michele Ingalls

Help! I Want to Stop Gambling Now

Have you decided that it is finally time to stop gambling? Have you also realized that you need help? Are you uncomfortable talking about it? First of all, many people realize it is a hard decision to make and that you may be embarrassed. It is hard to ask for help sometimes, but at some time or other, everyone needs help. It isn't a sign of weakness to ask for help, in fact, it often takes strength to admit you have a problem, like a gambling addiction or compulsive gambling, and could use some help. As a therapist I have often heard people say that they feel different than other people and feel separated or isolated. In fact, that is something that many people have in common.

I often heard, "If only people knew the real me."

The interesting thing is that I heard the same thing over and over and yet, each person felt that he or she was the only one in the world who felt that way. You will be amazed to learn that millions of people have felt the way you feel now and there are many people who understand exactly what you are going through and are willing to help you. You can also rest assured that they will not look down on you. Yes there will be some smug people who've never dealt with a powerful addiction who may look down on people who have to deal with an addiction like gambling, but their opinions don't matter because they've never lived through what you're living through. You might say they are ignorant.

Every thing that we do in life, both the big things and the little accomplishments, have steps that are involved. For instance, when you start your day, there are steps. First, you wake up, next you get out of bed, then you may walk to the kitchen. The same is true of getting dressed or any other thing you do. Each thing you do starts with a single step. It is the same with stopping gambling.

The first step, which you have already accomplished, is to admit you have a problem. The next step is to think about ways to solve the problem. You need to gather information so you will know what you can do and how to solve the problem of getting your life back under control. Where do you get information? From someone who has already done what you want to do and has gone through what you are now experiencing. In other words, it would help to talk to other people who've dealt with a gambling problem.

Where do you find them? Well, you may know someone who has successfully stopped gambling, but if not, or if you'd rather talk to someone who doesn't know you, you can always call GA, Gamblers Anonymous. Just like the name implies, the call can be anonymous. You may go to a meeting and hear how other people are coping and that may be anonymous as well. People in GA do not go out and tell other people what they've heard in a GA meeting. You know the saying, "What happens in Vegas stays in Vegas," well what happens in a GA meeting stays in the meeting, as well.

The point is, if you've gotten to the point where you can say, "Help, I need to stop gambling now," Then you are ready to gather information using the national hotline for GA that will provide that help. Just one step at a time and the next step is to gather some information. If you look at it that way, it will be do-able, perhaps not always easy, but you can do it.