Getting Ahead of the Compliance Curve

Getting Ahead of the Compliance Curve

In an increasingly globalized economy, with various compliance requirements that apply not only to an organization, but it’s contractors and vendors as well, one way to stay ahead of fraud and corruption risks to satisfy those requirements involves proactive monitoring to ensure regulatory compliance. In two separate breakout sessions at the 29th Annual ACFE Global Fraud Conference delivered by Eric Feldman, senior vice president and managing director of Affiliated Monitors, Inc., he stressed that companies should take the first step in a proactive monitoring program by obtaining an independent assessment of their organization’s risks, practices or procedures and culture.

Read More

GDPR: A New Ethical Framework for Fraud Examiners

GDPR: A New Ethical Framework for Fraud Examiners

Most likely, you’ve heard the phrase “leaving a carbon footprint.” We know that traveling, consuming food and even breathing are all activities that release trace amounts of carbon into the atmosphere. The same idea is applicable to a person’s digital footprint. Your digital footprint is the virtual impression of activities you are involved in. Liking your friend’s post on Facebook, purchasing a pair of shoes online, tweeting about how much you loved this year’s #fraudconf — all of these activities are tracked and logged, and combined they are your digital footprint. This is what the GDPR is concerned with: protecting that data.

Read More

Crisis in the Organization? Rebuild Your Culture with Transparency

Crisis in the Organization? Rebuild Your Culture with Transparency

You know that catastrophe you thought might slam your organization? It happened. You got the dreaded phone call in the middle of the night from your lawyers, your compliance people or (horrors!) the media that (pick one or more): 1. Employees created millions of fraudulent savings and checking accounts on behalf of clients without their consent. 2. Management was bribing officials worldwide to win lucrative contracts. 3. Executives were caught in huge money-laundering and corruption crimes.  

Read More

Muddy Money: The Dirty Truth About Political Corruption

Muddy Money: The Dirty Truth About Political Corruption

Corrupt politicians are a common trope in society, but what's more uncommon is how to spot the red flags of shady dealings. In "Targeting the Proceeds of Political Corruption," Michael Schidlow, CFE, CAMS-Audit, head of financial crime risk training and emerging risk advisory at HSBC Bank, took attendees on a ride through the world of political corruption combining pop culture references with infamous real-world examples involving names like Gaddafi and Putin. 

Schidlow clearly conveyed the message that political corruption is a massive problem with a wide range of consequences that affect everyone in the world.

Read More

How Would You Steal $10,000 from Your Organization?

How Would You Steal $10,000 from Your Organization?

Fraud fighters rarely break the rules. They are meticulous, focused and hold themselves to a high ethical standard while ferreting out wrong-doers. However, Steve Morang, CFE, CCEP, CIA, senior manager at Frank Rimerman & Co LLP, argued that sometimes holding yourself and your thoughts to a too-strict ethical framework can backfire against realistic fraud prevention.

Read More

Proving Intent in Fraud Cases

Proving Intent in Fraud Cases

Why do people comply or not comply? For Audrey Milesi, CFE, ACCA, ACAMS, Founder of Flying CFO, this question is at the heart of proving intent in fraud cases. “Proving the facts doesn’t mean you have proved the intent,” said Milesi to attendees of the 2018 ACFE Fraud Conference Europe, recently held in Frankfurt. “It’s not just about going to court and having a good case. It’s about [determining] what fraud is for you.”

Read More