Investigation

Predication or not?

CFEs discuss how they know when they should devote resources to launch fraud examinations or at least preliminary investigations.

Dusting your data for fraud's fingerprints: Six number patterns that fraudsters use

Fraudsters tend to steal in similar ways. Here are six number patterns you can search for and possibly find hidden fraud. Learn from the acclaimed authority on Benford’s Law on how numbers can become your best friends.

Doctoring the books

These case studies will help inoculate medical practices against fraud through sound ACFE principles — from financial oversight to segregation of duties.

DOJ asks, ‘Can you show your compliance and anti-fraud program actually works?’

Peña and Murphy challenge us to rise up in our battles

As I listened to the stories of former U.S. Drug Enforcement Administration agents, Javier Peña and Steve Murphy — the inspirations behind the Netflix series “Narcos” — I sensed their passion for catching Pablo Escobar and other drug traffickers. Despite enduring constant danger and peril, they seized the mission to disrupt the narcotics trade in Colombia.

Murder, money laundering and the demise of Pablo Escobar

Retired U.S. Drug Enforcement Administration agents Steve Murphy and Javier Peña — the inspirations behind the hit show “Narcos” on Netflix — tell the tale of their time in Colombia, investigating and capturing notorious narcoterrorist and Colombian drug lord, Pablo Escobar. Not everything you see on TV is true, but their story comes pretty close.

Supply-chain fraud is alive and escalating

The last time you probably thought about supply chains was during the early days of the COVID-19 crisis when the toilet-paper shelves were empty. But that TP had to wend its way through a complex journey from pulp mills to your home that involved many parties and chains of events. Disrupt just one step — say because of pandemic fears or fraud — and the chain breaks. Here’s how to help prevent supply chains from fraudulent acts and mitigate them when they do break.

Ignore waving red flags? Pay the cost

Organizations can’t afford to be oblivious. Anti-fraud professionals are trained to be skeptical. They should teach their “trust but verify” skills to all in their spheres. Here are some cases in which the players didn’t see (or refused to acknowledge) flaming-red flying flags and paid the cost in loss of cash and reputations.

Recovering illicit assets offshore might become a bit easier

The British Overseas Territories (such as The Cayman Islands) and the British Crown Dependencies traditionally have been jurisdictions fraudsters use to hide proceeds of crime. However, recent legislation on the Islands could make it easier to conduct investigations into fraud and white-collar crime.

Benford's Law still works

Can Benford’s Law practically identify fraud? It’s one of many tests you can use to discover fictitious numbers in supposedly random datasets, such as monetary amounts of purchase transactions. In this case, a comptroller successfully uses Benford’s Law to search for anomalies in warranty claims.