Accounting

Monitoring and investigating human rights risk in the supply chain

Forced labor, an unfortunate reality in much of the world, may lie hidden (or in plain sight) in companies’ supply chains. Governments are taking notice, and CFEs have a key role to play in combating the problem.

Developing the next generation of forensic accountants

As the accounting field braces itself for staff shortages, it’s now more important than ever to ensure that young fraud fighters are prepared to meet future challenges. Here, the author provides training techniques that he’s employed to train new employees and pass his wealth of knowledge on to the next generation.

Balancing fraud management and the customer experience

Forming solid relationships with customers while protecting them from fraud and financial loss is a constant balancing act for banks. The author details the steps involved in developing a strategy that puts customer protection at the center while providing a hassle-free customer experience.

ACFE celebrates International Fraud Awareness Week

Since 2000, the Association of Certified Fraud Examiners’ (ACFE) International Fraud Awareness Week has educated organizations and individuals worldwide about the importance of fraud prevention and detection. This year, the ACFE is raising awareness and equipping people with the knowledge they need to protect themselves and their organizations from occupational fraud.

Ready for the future

Members of the ACFE’s Board of Regents sat down with Fraud Magazine at the 35th Annual ACFE Global Fraud Conference in Las Vegas for a wide-ranging discussion about pandemic risk management, how AI is no substitute for human expertise and how important it is to attract new people to the anti-fraud profession.

Decoding AI and machine learning in banking

Whether you’re drawn into a case as a fraud examiner, an auditor, or a customer encountering identity fraud, understanding credit risk modeling within financial organizations is essential. This knowledge is crucial regardless of your role because it impacts how financial products, from bank accounts to mortgages and student loans, are managed and secured globally. Appreciating how financial institutions assess the risks tied to each customer — whether an individual or a corporation — is fundamental for anyone engaged with financial services. This understanding shapes how we perceive the safety and reliability of financial products that affect everyday financial decisions.

Natalie Lewis, CFE, CPA/CFF

At one time an aspiring artist, Association of Certified Fraud Examiners (ACFE) Board of Regents Chair Natalie Lewis, CFE, CPA/CFF, now investigates alleged employee embezzlement and business fund misappropriation schemes. She works to combat fraud locally and globally in her leadership positions for the City of Atlanta and the ACFE.

Scammers rip off desperate school-loan debtors, plus analyzing sensitive data leakage

In March, a U.S. district court shut down a student debt-relief operation that stole $8.8 million in junk fees from school debtors. Here we detail how others can avoid falling victim to scams that claim they’re helping people pay off their student loans. And a recent data security report sounds the alarm on organizations sharing data internally.

Noncompliance with laws and regulations – CFEs’ elevated audit role under proposed PCAOB rules

CFEs, lawyers and auditors – be on alert! The proposed PCAOB’s amendments to its auditing standards related to an auditor’s consideration of a company’s noncompliance with laws and regulations about financial statement audits will have a profound impact on our profession, bringing fraud risk management front and center.

A deeper understanding of occupational fraud

Fraud fighters recognize the ACFE’s Report to the Nations as the premier study of occupational fraud. ACFE CEO John Warren, J.D., CFE, takes readers on an in-depth tour of the 13th edition of this comprehensive report of occupational fraud, its perpetrators and victims, and its costs to help anti-fraud professionals better protect their organizations against this pernicious economic crime.

Michael McCall, CFE

Retired FBI agent Michael McCall has years of experience investigating white-collar crime in both the federal and private sectors. Throughout his career he’s learned that following the money is key to tracking criminals and continues to fight fraud as owner of an investigative company.

Filling in the fraud awareness training gaps

Fraud awareness training is an essential mechanism to prevent, detect and mitigate losses from fraud. But implementing an effective program that covers all the bases isn’t an easy task. Through case studies, the author explains how to effectively implement training that equips stakeholders with the necessary tools to protect organizations — and themselves — from fraud.