Rep. Harris’ plan cracking down on gift card fraud becomes law
Michigan families will be better protected from gift card scams, thanks to a new law spearheaded by Rep. Mike Harris.
Harris, R-Waterford, led the bipartisan effort to create stronger penalties for a growing problem that has cost consumers and retailers millions of dollars.
“When someone spends their hard-earned money on a gift card for a family member or friend, they should be able to trust that the money will be there when it’s time to use it,” said Harris, R-Waterford. “This new law provides a real solution to a growing problem. It gives law enforcement and prosecutors stronger tools to crack down on organized criminals who are stealing from Michigan families.”
Harris, a retired police sergeant, worked with state Rep. Samantha Steckloff, D-Farmington Hills, on the bipartisan legislation after hearing…
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.