Federal Tax, Tax

How to Combat the Rise in Employment-Related Crimes

The Financial Crimes Enforcement Network (FinCEN) recently reported a rise in certain employment-related crimes. The crimes involved workers’ compensation fraud and state and federal payroll tax evasion in the U.S. residential and commercial real estate construction industries. “FinCEN is committed to combating fraud,” said the acting FinCEN director in a statement where he highlighted how some companies are dodging their legal obligations. The multi-step schemes use shell companies and other tactics that enable fraud. Read the FinCEN Notice, including 11 red flags that financial institutions can use to help detect and prevent such crimes, here: https://bit.ly/3OWxZJk. Contact the Cg Team with questions. © 2023