Global

M. Brian Reid, CFE

M. Brian Reid, CFE, says that in a parallel universe he might’ve been a nuclear physicist. But the CEO of Brison LLC applies the same passion he has for exploring the mysteries of the universe to examining the complexities of fraudsters and their schemes against his business clients.

Gold standard for inspectors general

ACFE President and CEO Bruce Dorris, J.D., CFE, CPA, praises Cressey Award winner Michael Horowitz's achievements in detecting and preventing fraud in his role as inspector general and chair of the Pandemic Response Accountability Committee (PRAC).

Fraudsters fake diversity hires to win contracts and more

A Manhattan construction company fakes diversity hires to win government contracts; Jalisco drug cartel members scam elderly U.S. citizens with timeshare scam; and the U.K. government fights fraud with new investigative team.

Detecting document fraud

Cases of document fraud, including check fraud, have exploded in recent years. The authors explain what’s behind the proliferation of this age-old scam and the modern technology CFEs can employ to stop it in its tracks.

Using geospatial tracking to shut down sanctions violators

The line between corporate crime and geopolitics has become increasingly blurred as the U.S. sanctions a broad range of bad actors across the globe. Organizations can quickly find themselves in violation of these rules. Here’s how fraud examiners can use one type of technology to prevent this fraudulent behavior.

CFEs should consider trade compliance as a profession

Trade compliance professionals help protect companies, but they also play a role in safeguarding national and global security. This emerging field offers exciting career opportunities for CFEs whose skill sets are a great match for companies that need professionals who can prevent and detect trade violations that threaten real harm.

Banks cratering because of poor risk management

Economic shifts, crypto deposits, weak controls and incompetent administration have led many tech-heavy banks to bite the dust this year. But none of the institutions’ C-suiters should’ve been caught flat-footed. Since the Great Depression, risk management has been the mantra of the money world. And we know that complacency and hubris can lead to fraud. Here’s how the bank collapsed and reminders for organizations to get it right.

On the brink of collapse

At 2:07 p.m. on Friday, Nov. 22, 1963, the New York Stock Exchange (NYSE) halted trading shortly after news broke that U.S. President John F. Kennedy had been fatally shot. The market had been on a downward slide, losing $11 billion in capitalization in the previous seven minutes. But hours before Kennedy’s assassination, NYSE president G. Keith Funston was doing all he could to prevent a potential market crash as one of the largest futures commodities scandals of the 20th century started to unravel.

Judge closes 1MDB chapter with 10-year sentence and more

Former Goldman Sachs banker Roger Ng receives jail sentence for money laundering and violating anti-bribery laws; in Chicago a woman used information stolen from dozens of dead people to defraud the government of over $45,000; the Texas Department of Public Safety (DPS) left 3,000 Asian Americans vulnerable to identify theft by unknowingly sending multiple driver’s licenses to a New York-based Chinese crime group.

A journalist’s battle to expose corruption

ACFE President and CEO Bruce Dorris, J.D., CFE, CPA, outlines Guardian Award recipient Miranda Patrucic's success as an investigative journalist exposing corruption in Central Asia and Eastern Europe.

The enemy within: Betrayal of leaders

Fraud committed by leaders and top executives remains all too common and causes an inordinate amount of damage to organizations around the globe. Here the authors examine one case they investigated and provide tips on how fraud examiners can best approach wrongdoing by those at the upper echelon of the organizational chart.

Blind faith

ACFE President and CEO Bruce Dorris, J.D., CFE, CPA, reflects on the lack of oversight and controls that led to the fall of FTX and the importance for CFEs to prevent and detect fraud in the growing cryptocurrency market.