Archive for February, 2010

Fighting Corporate Identity Fraud

Posted on February 23, 2010 by Saldutti

Financial crimes are one of the fastest growing areas of criminal activity in the United States.  Recently, Saldutti, LLC sued a New Jersey-based business on behalf of one of the world’s largest banks.  After a thorough investigation, the firm found that the company, accused of a fraudulent business loan, had filed Chapter 7 bankruptcy. The firm’s forensic evidence also revealed that the company’s president was in fact a “straw person” and proceeded to file a lawsuit against the real party who had set up the conspiracy to defraud the bank. After an intense two days of testimony, the court ruled…

10 Tips for Collecting Money in Today’s Economy

Posted on February 16, 2010 by Saldutti

Most companies have witnessed firsthand the signs of a sluggish economy. Credit and collections managers will quickly take notice of slowing, late or negligent customer payments.  Late payment can result in debt recovery problems. Smaller companies, in particular, are continuously struggling to find ways to come up with enough cash to stay alive. Businesses are dependent on their cash flows but are faced with the dilemma – how to collect money quickly without alienating the company’s lifeline – their customers? 1. Have a clearly-defined credit policy in place. Review it with each customer – both new and longstanding – and…

The Fair Debt Collection Practices Act

Posted on February 10, 2010 by Saldutti

Due to the current economic climate, more accounts are in collections than ever before. Debt collectors have a steady supply of work and have experienced record growth within their industry. In light of this, more media attention is being focused on the unruly and often abusive tactics some collect ion agencies employ to acquire a payment. Here is what your business needs to know: Enacted in 1978, the Fair Debt Collection Practices Act is a compilation of sensible laws created to compel collection representatives to act in a professional manner. The Act creates guidelines under which debt collectors may conduct…

Protect Your Business From Fraud

Posted on February 03, 2010 by Saldutti

Given the current economic climate, Saldutti Law has seen an increase in fraud cases and urges business owners to be on the alert. One of the biggest indicators of a fraudulent company is an international shipping address. Romania, Pakistan, Russia, Lithuania, Egypt, Nigeria, Colombia, Malaysia, and Indonesia have a very high incidence of fraud, and often have unverifiable addresses. Additional indicators include untraceable email addresses, bogus web sites and non-existence web presence. Businesses should also be wary of particularly large orders or orders of expensive items as well as different shipping and billing addresses.  According to Robert L. Saldutti, Esq.,…