Investigation

One step forward, two steps back

Fraud examiners are always working to persuade management to search for internal fraud and adopt wise prevention controls. However, anti-fraud professionals can only give their best counsel and then work hard for a good outcome. Here are a fraud examiner’s early successes in a case and later frustrating management decisions. Regardless, he’s not daunted.

Study illicit ‘exfiltration’ and cryptocurrency to prevent fraud

Cryptocurrencies and cybercriminals aren’t going anywhere. Here’s how some fraud examiners discovered systematic patterns of attacker activity at a bank and instituted controls that protected the institution and helped a cryptocurrency exchange prevent future attacks.

Happy 80th birthday to the term ‘white-collar crime’

You might not know it, but today is an important day for you. On Dec. 27, 1939 — 80 years ago — criminologist Dr. Edwin Sutherland, while speaking to the American Sociological Society, coined “white-collar crime” and placed the cornerstone in the foundation for the fraud examination profession.

Indefatigable investigator

Jules Kroll assembles diverse professionals — fraud examiners, forensic accountants, academics, investigative journalists, former prosecutors and attorneys — to fight fraud. That’s been his modus oprandi since 1972. As chairman and cofounder of K2 Intelligence, he continues that course.

Predatory publishing

Thousands of budding researchers and academics are unwitting victims of predatory publishers. After authors pay upfront, they receive little of what the publishers promise them. And many more desperate doctoral candidates and academics trying to earn tenure willingly turn to these shady publishing options because the competition for prestigious positions is intensifying. Universities often look the other way, and academic rigor suffers.

5 most scandalous fraud cases of 2019

The ACFE believes that large, noteworthy fraud cases like Enron or Bernie Madoff will live on in infamy and provide valuable lessons for fraud fighters and the general public. That is why we, along with input from our members, have selected the following five stories as the most noteworthy frauds of 2019. The stories were chosen based on the amount of money lost, the number of lives impacted and/or the relevance to the anti-fraud profession.

Igniting anti-fraud research via ACFE Foundation

On March 14, the Institute of Fraud Prevention (IFP) merged with the ACFE Foundation, which expanded the Foundation’s mission beyond college scholarships to cutting-edge, anti-fraud research that’s accessible to all CFEs. The IFP will now be known as the ACFE Research Institute. ACFE members and other anti-fraud professionals are the beneficiaries.

Learning the art of fraud examination

CFEs love fraud examinations that move in a linear fashion — from the general to the specific, gradually focusing on the perpetrator through evidence analysis. But life, of course, seldom moves in a straight line.

Character traits of the effective fraud examiner

Fraud examination is often challenging work, which involves various investigative skills. Be more successful in your engagements by focusing on these four traits that are shared by effective fraud examiners.

Norman DeBoer, CFE

The ACFE presented Norman DeBoer, CFE, the Certified Fraud Examiner of the Year award at the 30th Annual ACFE Global Fraud Conference in June. DeBoer, a detective with the Waterloo (Ontario, Canada) Regional Police Service for 29 years, completed in 2018 the precedent-setting $12 million financial advisor fraud case of Daniel P. Reeve, who received a 14-year prison sentence.

Investigating the Millennial Mind

Create your luck to fight fraud

Fraud examiners often stumble upon unsought information. Here’s how to train yourself to find that info so you can detect other potential frauds, obtain evidence, recover fraud-related losses, identify and correct deficiencies, and more.