When James Holzrichter reported some management issues to his supervisor, he had no idea that he would later discover widespread alleged fraud at Northrop.
Houses of worship are havens from fraud, right? Wrong. The author describes how church workers’ erroneous thinking leaves them particularly vulnerable to fraud and what congregations can do to deter and prevent fraudsters’ attacks.
Some suggest that fraud examiners could use computerized “avatars” to collect basic information. Here we look at potential technological advancements and the implications of avatars in the fraud-fighting profession. You decide.
Does the Fraud Triangle explain fraudsters who steal for enjoyment? The author contends that Dr. Donald Cressey didn’t necessarily develop his theories to explain behavior of those who don’t have financial needs and are predisposed to committing fraud even before organizations hire them.
Based on the tremendous increase in data breaches and related compromised records in 2014 plus the soaring incidents of income tax refund fraud, it’s no surprise that identity theft is also growing. The U.S. Federal Trade Commission reports a sizable increase in complaints.
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Case in Point
Trusted assistant steals $365,000 from not-for-profit
Former Alabama Gamma Phi Beta member indicted on various fraud chargesA South Carolina attorney has been arrested on fraud and money laundering charges as a part of a scheme that involved submitting false invoices for a University of Alabama sorority house, and receiving payment without providing the furnishings and equipment that were previously promised.
Feds to drop some charges in Jeremy Johnson fraud caseFederal prosecutors intend to drop some of the 86 fraud charges against St. George businessman Jeremy Johnson and four associates as both sides prepare for a complicated trial.
Woman serving time for BP oil spill fraud now charged with food stamp fraud, tax evasionFederal prosecutors charged Sherica Lacey Lee, 33 of McCalla, with one count of tax evasion and one count of wire fraud. Lee was already serving time for attempting to defraud the Gulf Coast oil spill claims fund.
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David Stewart, Director of Financial Crimes & Compliance at SAS, discusses the difference between bank fraud and money laundering, and how the negative effects of the latter can severely impact emerging economies.