TCC Consulting Services, LLC is a consulting firm that offers compliance assistance and training to small financial institutions, as well as fraud prevention and investigation services to all types of businesses.

FINANCIAL INSTITUTION SERVICES

Our compliance consulting services are designed to meet the ongoing demands of regulatory requirements, filings and deadlines of smaller financial institutions. TCC Consulting Services' compliance consulting professionals can complement your internal compliance staff on an outsourced basis, periodically update and train your staff on new developments, or handle all regulatory compliance needs for your institution.

FRAUD PREVENTION AND INVESTIGATION

The impact of fraud hits a company straight in the bottom line, and while large corporations may be able to withstand a six- or seven-figure fraud, a smaller company or organization may never recover. To survive in today’s competitive marketplace, businesses must be proactive in the fight against fraud.

Internal controls related to fraud fall into one of three categories:

Preventive controls: Focus on protecting the company’s assets and information and stopping fraud before it occurs.
Detective controls: Focus on finding fraud when it occurs, hopefully as soon as possible.
Corrective controls: Focus on remedying problems that are discovered, so that future frauds can be prevented and/or detected more easily.

"There's a lot more employee fraud and embezzlement today than there was 10 years ago, and this past year there was much more than a year ago," says Steve Pedneault of Forensic Accounting Services. "People blame the economy, but much of the fraud and embezzlement that's coming to the surface now was in the works for 4 or 5 years before the recession hit."

A financial audit is not sufficient to protect your business against fraud

The ACFE (Association of Certified Fraud Examiners) maintains that audits are ineffective. "External audits were the control mechanism most widely used by the victims in our survey, [yet] they ranked comparatively poorly in detecting fraud and limiting losses," it noted in last year's study.