Residents and businesses in Prince George’s County, Maryland have already lost over $10 million to fraud and scams this year. The concerns are increasing as the holiday shopping season approaches, with the potential for even more losses. Lt. Joseph Bellino, who leads the Prince George’s County Police Department’s Financial Crimes unit, emphasizes that businesses are at an even greater risk for financial fraud due to their large balance sheets. Various criminal groups target businesses using different methods, including mail fraud, check fraud, apartment rental scams, and identity theft. International criminal groups are also hacking businesses and transferring money from online bank accounts. To address this growing problem, the county is organizing a free business fraud prevention seminar where local and federal law enforcement, other agencies, and business professors from the University of Maryland will provide information on embezzlement prevention and accounting protocols.
The wave of fraud and scams in Prince George’s County, Maryland has already caused losses exceeding $10 million. The approaching holiday shopping season raises concerns that this number will continue to rise. The businesses in the county face a higher risk for financial fraud than the residents, due to their large balance sheets. Criminal groups employ various tactics, such as intercepting checks in mail systems and using identity theft to rent apartments for illegal activities. Additionally, international criminal organizations are hacking businesses and conducting unauthorized transactions from their online bank accounts. To combat this problem, the county is hosting a free seminar, where business owners can learn about fraud prevention, embezzlement prevention, and accounting protocols from experts in law enforcement and academia.
Businesses in Prince George’s County, Maryland have suffered significant losses due to fraud and scams, exceeding $10 million within a short span. As the holiday shopping season approaches, the concern is that this figure will escalate further. Lt. Joseph Bellino points out that businesses face a higher risk of financial fraud than citizens, considering their substantial financial resources. Criminal groups have targeted businesses using various methods, including mail fraud, check fraud, apartment rental scams, and identity theft. The rise of digital banking has also facilitated international criminal groups in hacking businesses and illicitly transferring funds. To address these challenges, Prince George’s County is organizing a business fraud prevention seminar, welcoming businesses of all sizes to learn about protecting their financial well-being through updated information and implementing preventive measures. The event will feature the participation of local and federal law enforcement, along with business professors from the University of Maryland.
