The 2016 ACFE Report to the Nations on Occupational Fraud and Abuse showed fraud incidents in Canada were most commonly detected through tips from whistleblowers. This comes as no surprise to Heidi Franken, Chief of the OSC’s Office of the Whistleblower and Deputy Director of Enforcement. “Whistleblowers are a key ally in the fight against wrongdoing, and companies should take measures to encourage individuals to come forward without fear of reprisal,” said Franken. “The sooner misconduct is detected, the sooner we can take action to protect investors and our capital markets.”Read More
I eagerly anticipated my second ACFE Global Fraud Conference, knowing this one would be different because this year I'd be attending as a student representative. When we finally landed in Nashville, Tennessee, home of country music venues including the Grand Ole Opry and the Ryman Auditorium, I was met by bands rocking every bar on the Honky Tonk Highway (Broadway Street) and hapless bachelorettes staggering from bar to bar or pedaling down the street on “Nashville’s #1 Party Bikes!” Nashville was definitely hopping and as I observed the debauchery I had to ponder: was this preparing me for a taste of my next four years of college life?Read More
At the 28th Annual ACFE Global Fraud Conference, June 18-23, in Nashville, Tennessee, more than 3,000 anti-fraud heroes were welcomed at the beginning of the opening ceremonies with this reminder they are immeasurably essential in the fight against fraud.Read More
They are impossible to solve. They are too time consuming. The documents don’t exist. Tiffany Couch, CFE, CPA/CFF, Principal Acuity Forensics, reviewed these three myths surrounding cash skimming schemes to start off her breakout session at the 28th Annual ACFE Global Fraud Conference.
She shared four case studies to dispel these myths and illustrate a few ideas on how to effectively investigate and prove cash skimming schemes. We’ll take a deeper look at one of them, which she dubbed the “Busy Mom” scheme.Read More
The contrition of convicted fraudsters* who speak to attendees at the end of each ACFE Global Fraud Conference ranges widely. Some are desperately sorry and others are still rationalizing. Former bank executive James Scalzo, who went to prison for bank loan frauds totaling $1.4 million, seemed to want to convince attendees of the full repentance of his crimes.Read More
Alex is a college student who makes great grades, is active in his college fraternity and has excellent health-care coverage. One day, Alex gives his insurance card to a friend in his fraternity house because his friend broke his arm in an intramural basketball game, but doesn’t have health insurance.Read More
During Wednesday morning's closing session, convicted fraudster* James Scalzo explained how he believes that when people get to a certain level of authority in the banking industry, they have the tendency to use their influence to push deals through to make their numbers look better and their commissions larger.Read More