payroll fraud Archives - Abacus Payroll

Protect Your Bank Account from Hackers

June 23, 2022 | posted by Abacus Payroll

If there’s one thing you can count on, it’s that cybercriminals are coming up with new and creative ways to hack businesses and individuals. In today’s digital age, it’s more important than ever to be aware of the current scam trends and how you can protect your financial accounts. Not only do you need to […]

Security Alert: New Direct Deposit Fraud On The Rise

July 27, 2021 | posted by Abacus Payroll

Email phishing attempts are not new. Fraudsters are only getting more creative and convincing. Abacus Payroll, Inc. urges clients and small businesses to be extra diligent in reviewing employee bank change requests because identity spoofing and direct deposit diversion attempts are becoming all too common. What is direct deposit diversion? Fraudsters impersonate an employee by […]

5 Tips for Smarter Payroll Outsourcing

September 11, 2019 | posted by Abacus Payroll

It’s no secret that in-house payroll can be a time-consuming headache for employers. Outsourcing payroll has many benefits, from increased productivity and enhanced security to peace of mind that your employees are paid timely and accurately. The most important part of outsourcing, however, is working with a reputable provider. Since your company’s payroll tax responsibility […]

How to Verify Payroll Tax Payments

September 10, 2019 | posted by Abacus Payroll

Nearly 40% of small businesses outsource payroll to a third-party processor. How can you verify that your payroll tax deposits are being made? While there are many benefits to outsourcing a company’s payroll functions, it’s important to note that employers who outsource payroll are still legally responsible for any and all payroll taxes due. According […]

The Payroll Fraud Schemes Every Business Should Know

August 27, 2019 | posted by Abacus Payroll

According to the Association of Certified Fraud Examiners, nearly 30 percent of businesses are victims of payroll malfeasance, with small businesses twice as likely to be affected than large businesses. Even the smallest of infractions will add up to large costs over a period of time. As a small business owner or payroll administrator, be […]

Combating Buddy-Punching in the Workplace

March 26, 2019 | posted by Abacus Payroll

Payroll fraud takes on a myriad of different forms, one of the more prominent of which is buddy-punching. Far from workplace brawls between friends, buddy-punching involves employees punching in for other employees who have yet to arrive on the premises. Regardless of the rationale, buddy-punching is responsible for hundreds of millions of lost revenue per […]

Gone Phishing: How HR & Payroll Pros Can Be Proactive Against Scams

January 31, 2018 | posted by Abacus Payroll

In wake of the recent W-2 phishing scams, you may be wondering how you can protect your business from phishing attacks. In short: you can’t. You can, however, educate your employees to ensure that phishing emails and other forms of communication go unanswered. Here are a few things to look for when trying to spot […]