IFPI Launches Initiative to Combat Streaming Fraud – Billboard

The IFPI, the international trade body that represents the recorded music business, has launched a new initiative through which participants commit to baseline practices to prevent, detect and respond to streaming fraud.

Dubbed the “Streaming Integrity Initiative,” or SII, it has so far been supported by Absolute Label Services, ADA, AWAL, CD Baby, CmdShft, Ditto Music, FUGA, GoDigital, HYBE, IDOL, IMPALA, InnerCat Music Group, Merlin, Redeye, Revelator, RouteNote, Secretly Distribution, Symphonic, Sony Music Group, The Orchard, Too Lost, Universal Music Group, Virgin Music Group and Warner Music Group. Notably, the largest DIY music distributor, Distrokid, has not yet signed on.

To be…

CLICK HERE to read the FULL IFPI Launches Initiative to Combat Streaming Fraud – Billboard article.

This category refers to crimes committed by employees or insiders against their own organizations. It is often the most damaging because the perpetrator has authorized access to systems.

• Asset Misappropriation: The most common form, involving the theft of company resources. This ranges from simple “skimming” (taking cash before it’s recorded) to complex schemes involving the theft of inventory or intellectual property.
• Payroll Fraud: Employees may create “ghost employees” on the system, falsify their own timesheets to claim unworked overtime, or divert salary payments to their own accounts.
• Financial Statement Fraud: Management deliberately misrepresents the company’s financial health by inflating revenue or hiding liabilities to attract investors or meet performance bonuses.