Daily Archive: November 12, 2020

The pandemic may be the greatest environment for business fraud in decades

Trying to defraud the president of the Association of Certified Fraud Examiners was probably never going to work, and it didn’t. When Bruce Dorris got an email saying, “Your antivirus software is not up to date!” he knew it was a scam. But he was still impressed. “I’m looking at it like, wow, that looks really, really good,” he says. “I know what to look for, so I didn’t bite, but I can think of someone who may look at it and think, ‘I wonder if it’s true?’”

Brace for plenty more scams—many of them far more sophisticated. The pandemic has been great for Amazon, Netflix, Peloton, and Zoom and also for a group of entrepreneurs seeking far less attention: corporate fraudsters. We may not know their names yet—except for a few—but we can be certain they’re hard at work, because the pandemic may be the greatest … Read More

U.S. weekly jobless claims drop to seven-month low By Reuters

© Reuters. FILE PHOTO: People wait in line to enter the Nassau County Mega Job Fair at Nassau Veterans Memorial Coliseum in Uniondale, New York

WASHINGTON (Reuters) – The number of Americans filing new claims for unemployment benefits fell to a seven-month low last week, but the pace of decline has slowed and further improvement could be limited by a raging COVID-19 pandemic and lack of additional fiscal stimulus.

Initial claims for state unemployment benefits totaled a seasonally adjusted 709,000 for the week ended Nov. 7 compared to 757,000 in the prior week, the Labor Department said on Thursday. Economists polled by Reuters had forecast 735,000 applications in the latest week.

Despite claims dropping to their lowest since March, they remained above their 665,000 peak during the 2007-09 Great Recession. Weak demand, especially in the services sector, is forcing employers to shed workers. Layoffs could accelerate as new coronavirus cases

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