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In 1997, a mediator was brought in and an inquiry into the Clench Defalcation was begun.
Also, internal defalcations are often the responsibility of the internal audit section, and commercial loan fraud is the concern of the commercial loan department.
While the current economic environment and housing market conditions--both of which determine future revenue and earnings potential of title insurers--remains challenging, the company has initiated additional expense and risk management efforts, which have, to some extent, mitigated this impact as evidenced by favorable operating earnings in 2011 and year-to-date in 2012 following a significant operating loss in 2010 caused by a single material agent defalcation.
Combined with CATIC s expense and risk management efforts, these conditions have produced favorable operating earnings in 2011-2012 and year-to-date in 2013, following a significant operating loss in 2010, which was caused by a single material agent defalcation.
Defalcation and fraud claims tend to occur in good times and bad, except that investment fraud tends to be susceptible to the economy and can affect audits, reviews and valuations.
Examples of specific activities to reduce the risk of losses involving employee defalcation include hiring competent employees, controlling the access to the assets of the business, segregating the duties of employees to create checks on each other and periodic comparison of assets to the records.
With respect to demonstrating a pattern or practice of defalcation, someone demonstrates such a pattern under the regulations if they are subject to continuing legal claims arising from two or more uncured defaults alleged to have resulted in losses aggregating more than $50,000 to one or more financial institutions.
IN ADDITION TO KITE DETECTION AND robbery prevention, McGough's corporate security services cover policies, procedures, and planning; physical security; fraud investigations; defalcation (embezzling) investigations; and security training.
Le reglement etant clair, en cas de non deplacement des Saoudiens, la Palestine aura gain de match et l'adversaire risque une defalcation de points.
Other counts included in the suit are breach of fiduciary duty, breach of duty of good faith, duty of loyalty & duty of care, abuse of control, misappropriation of business opportunities, defalcation, equitable accounting, breach of oral contract, and breach of both implied in-law and in-fact contracts, and tortious interference with advantageous business relationships.
Yesterday it was exposed by one of the TV channels how Law Minister Salman Khurshid and his wife are involved in defalcation of funds meant for handicapped people.
Many companies have not kept pace in the electronic age, and control systems are often woefully inadequate, increasing the risk of defalcation of both funds and company records.