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Five ways to protect your campaign from fraud

Campaigns and Elections offers detailed information on how to protect your party or campaign bank account from fraud.  Go here for detailed information, but in short.

  1. All bank accounts must be opened in the name of the committee using the committee’s Employer Identification Number (EIN).
  2. The FEC recommends bank statements be reviewed and reconciled with accounting records once per month. (That’s the bare minimum. Our firm, for example, reviews the bank registers of clients every single day.)
  3. Checks in excess of $1,000 and wire transfers should be authorized in writing by two individuals and those two individuals should be clearly identified by the campaign’s internal policies.
  4. An individual who does not handle the committee’s banking should receive all incoming checks and monitor all incoming receipts.
  5. Carefully control committee credit and debit cards. You can even ask the credit or debit card issuer to place dollar restrictions on the cards.

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