Callum Borchers

speaker

1,301 appearances 20 recordings 1 series first heard Jun 2022 last heard Jan 2025

Callum Borchers’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Expense-Report Fraud Appears to Be on the Rise · 21 Nov 2024 podcast

Now, I'm told that transaction was declined, but the rationale was, hey, I'm going off on a six month assignment instead of putting me up in a hotel for six months. matched

It would actually be cheaper to just buy me this RV. matched

Company didn't quite buy it, but it's amazing some of the things that people have tried. matched

Part of the rationale is that it feels a little bit less personal to steal from a big company than it does from another person. matched

And I think that was a theme that came through in my conversations with the accountants who watch for this. matched

They said that you really need to think about when somebody is feeling financial pressure, where are you going to invest? matched

get a little extra money. matched

And so the way that John Warren put it to me, he heads to Fraud Examiners Trade Group, most of us aren't going to go out and rob a bank, as he put it. matched

The one place that you go on a regular basis where maybe you have access to somebody else's money is your place of work. matched

And the people who do this typically, if they do it in small increments, it's not a $50,000 or $100,000 all at once. matched

It's little drips and drops. matched

And that's why matched

The fraud trade group says it typically takes 12 to 18 months to catch a fraud scheme like this. matched

So it's not something that often gets flagged right away. matched

Yeah, it could. matched

For the story, we talked with Sarah Jane Martin, who leads the accounts receivable practice at Quadient, which is one of these software companies that makes account reporting programs. matched

And she said, yeah, I mean, the reality is that, you know, this is the time of year when companies, a lot of them are closing the books and finance departments can be just drowning in receipts and try as they might. matched

It's just from a practical standpoint, hard to give every single expense as much scrutiny as they might like. matched

So, yeah, not to give any bad ideas. matched

But this is the time of year when the scrutiny could be down a little bit. matched

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