8 Steps HOA Boards Can Take to Minimize the Risk of Fraud & Embezzlement

Because they rely heavily on volunteer homeowners with varying background experience and limited time that is devoted to providing services as a director, Homeowners Associations are extremely vulnerable to financial damage as a result of criminal conduct on the part of wrongdoers who take advantage of their position. By following some basic procedures, HOA boards can greatly reduce the chances of being damaged by insider embezzlement of funds and/or other fraudulent conduct by those who have access to HOA funds.