Condominium associations are often the unfortunate targets of fraud. Assocation bank accounts often hold enticingly large sums of money, and without proper oversight that money can be suddenly or slowly drained by individuals with access.
At Haus Financial Services, we know that a lack of transparency can be a major red flag, indicating possible fraud. Our services are designed with the goal of high transparency between our company and the board, and the board and the owners.
To learn about other red flags that may indicate a risk of fraud and ways to protect your association, see this article from Kovitz Shifrin Nesbit.