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Run & Grow

Elizabeth Holmes, Theranos and the Myth of the Glamorous Entrepreneur

The hard truth about entrepreneurial flexibility and the pursuit of fame and fortune

Lately, it seems everyone is talking about Theranos. The defunct health technology company was dissected in a book by John Carreyrou, an ABC News podcast and Nightline episode, and an HBO documentary.  A film version is reportedly also in the works, starring Jennifer Lawrence as Elizabeth Holmes – the enigmatic ...

by Aytekin Tank  | April 28, 2019 06:00:00
News and Events

You Can Prevent Bank Fraud and Data Theft by Shifting to EMV Cards. Here's What You Need To Know

The BSP has required all financial institutions to make their systems EMV-compliant by end-June 2018

The first few weeks of 2018 have been rough for the Philippine banking industry. The Bangko Sentral ng Pilipinas (BSP) and many of the country’s biggest banks issued warnings for banking customers to be vigilant against fraud and unauthorized access to their ...

by Lorenzo Kyle Subido  | January 23, 2018 02:00:00
News and Events

Amid Rising Reports of Unauthorized Bank Transactions, Here are Top Tips to Avoid Becoming the Next Fraud Victim

The country’s biggest banks offer advice to help clients foil phishing, skimming and other illegal schemes steal their data and money

This week, the country’s No.1 and No. 2 banks respectively – BDO Unibank and Bank of the Philippines – issued statements warning clients to guard against fraudulent schemes to illegally acquire sensitive information and use their bank accounts for unauthorized transactions.“In the ...

by Entrepreneur Staff  | January 12, 2018 10:00:00
News and Events

BDO Assures Depositors Amid Reports of ‘Potentially Compromised ATMs’

Bank’s president downplays incident, saying they were ”?"nothing out of the ordinary”

BDO Unibank Inc., the largest bank in the country in terms of assets, has vowed to protect depositors’ transactions and their deposits amid reports that some of its automated teller machines may have been compromised by fraudsters’ attempts to skim or steal ...

by Elyssa Christine Lopez  | June 16, 2017 05:00:00
Run & Grow

Why Embezzlement Most Often Occurs at Small Businesses -- and How to Prevent It From Happening to You

A recent survey shows 80% of embezzlements occurred at small businesses

The latest statistics on fraud should send a big jolt of fear into small business owners. According to a 2016 embezzlement survey by HISCOX, a specialty insurance company, 80 percent of embezzlements occurred at small businesses -- defined as those with less than 150 employees ...

by Ken Springer  | May 09, 2017 06:00:00
Run & Grow

4 ways to protect your business against employee fraud and theft

No matter how trustworthy you think your employees are, it's better to be safe than sorry.

Q: Which internal accounting controls can help prevent fraud?A: This is a vast topic covered by countless books and consultants, so let’s narrow it down to employee fraud and theft. Aside from the obvious—conducting regular inventory checks and book audits, reconciling cash daily, ...

by Joe Worth and Joe Worth  | May 11, 2015 04:00:00
The End Game

All returns are risk driven

How much risk should you tolerate when taking significant investments?

One of the fundamental rules in investing is to focus on managing risks.  The reason for this lies in the need to weigh certainty versus uncertainty in any situation.  Investment risk is simply the possibility or chance of something going wrong, which ...

by Francisco J. Colayco  | March 09, 2015 06:00:00
Business Ideas

How to stop fraud in your retail biz

Before you expand, be sure that your business has solid internal controls in place. Don't allow the same employees to do receiving, classifying and pricing without proper check and balance.

Q: I run a small secondhand bookstore, and I want to have a chain with outlets in several cities, hopefully in three years' time. I let my employees receive, classify and put the price tags on the books when they arrive to ...

by Henry Ong  | September 04, 2013 02:00:00
Business Ideas

5 tips to prevent online scams

Learn how to tell legitimate buying and selling on the web.

With internet-based businesses becoming more and more popular in the Philippines, it is best that entrepreneurs, aspiring entrepreneurs and their clients learn five simple tips to protect themselves from fraudulent transactions.Here are some of them:1. Never pay in advanceThe seller may give ...

July 12, 2012 10:00:00