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Interview with Eva Romatzeck. ACFE's European Council on Occupational Fraud and Abuse Takes First Steps
Fraudsters ignore country boundaries. "Fraud is becoming an international crime," says Joseph T. Wells, CFE, CPA, founder and Chairman of the ACFE. "Most Fortune 1000 countries have international subsidiaries, he says. Individual fraud schemes frequently involve the fraud occurring in one country and the proceeds of the crime being hidden in another. Anything that we can do to share information and make laws uniform will help."

Admission-seeking interviews & false confessions This article is for ACFE members only
The goal of the fraud examiner is to get to the truth in an investigation. After the perpetrator is identified, getting a confession is the icing on the cake - unless the confession turns out to be false. In this session, you'll learn about some of the research that has been done in this area, how to prevent false confessions, and how to respond to claims that a confession is false.

Avoiding Embezzlement Embarrassment Or Worse This article is for ACFE members only
An entity can lose twice in an embezzlement case. Consider these 10 actions to avoid even more revenue loss during the fraud examination and litigation.

FRAUDBASICS: The Bank Secrecy Act Fighting Money Laundering Globally, Part Two This article is for ACFE members only
The Bank Secrecy Act has affected anti-money laundering efforts worldwide.

Beating fraud through internal auditing: A fraud primer for the new internal auditor This article is for ACFE members only
When new internal auditors are assigned the task of looking for fraud, many find themselves without the necessary skills to do a proper examination. In this session, you'll get an overview of what the new internal auditor needs to know about fraud in his or her first fraud assignments.

Benford’s Law Made Easy This article is for ACFE members only
In the April/May 1994 issue of The White Paper, Mark J. Nigrini, Ph.D., presented a novel analytical method of detecting numerical anomalies that could indicate fraudulent activity.

FRAUDBASICS: Charging of the Defendant in the Courtroom This article is for ACFE members only
Your investigative work had paid off: the suspect is now a defendant. Now what happens?

Fraud prevention: the latest techniques. Compliance and the corporation This article is for ACFE members only
With all of the corporate scandals that have been going on in recent years, corporations have been developing compliance programs to keep them out of trouble when employees deviate from acceptable behavior. How does your corporation measure up? It it's not top notch, you may find yourself in hot water if corporate mischief occurs.

Conducting international investigations: Issues & Solutions This article is for ACFE members only
As corporate entities become more global, so will investigations. However, how you conduct investigations in your country may differ widely from investigations in another country. Learn the issues that you need to know in order to protect you from risk as well as solutions to these problems that you are sure to encounter.

Using the law to fight fraud: Conducting kickbank investigations This article is for ACFE members only
Kickback investigations can be difficult. Evidence is hard to find and witnesses are even harder to turn. This session will focus on the investigation and resolution of kickback investigations including looking for the warning signs that you'll most likely come across and evaluating the outside parties making the payments.

Fraud and the Law: Confidential informants: The good, the bad and the ugly This article is for ACFE members only
Confidential informants, also known as CI's, can be the best thing that ever happened to you and your case. They can also lie, deceive, and ruin your fraud examination. This session explores how to develop and properly use them and avoid the common pitfalls.

Current Issues: Corporate Governance and Sarbanes-Oxley. What you need to know This article is for ACFE members only
Hailed as one of the most sweeping reform measures for corporate governance since the Securities Acts of 1933 and 1934, this Act contains provisions that affect all publicly traded companies as well as the CPAs who audit these companies. Learn how this new act may affect your public, private and other types of organizations and what your new responsibilities are.

Corporate Crime: Have the Organizational Sentencing Guidelines Produced Results? This article is for ACFE members only
The impact of the 1991 U.S. Organizational Sentencing Guidelines is undetermined.

Corruption and Fraud Stunt Third-world Growth This article is for ACFE members only
Corrupt officials burden developing countries with unfinished projects and crushing debt - conditions that lead to economic decline and international terrorism.

Designing a Robust Fraud Prevention Program, Part One
There may not be a more opportune time for a fraud examiner to press for a full-fledged fraud prevention program.

Fraud prevention: the latest techniques. Developing and auditing loss prevention policies and procedures, Part 1 This article is for ACFE members only
Sweeping changes continue to reshape the workplace. The role of the loss prevention director has found his role dramatically changing from the primary role of protecting the organization's assets. This session provides an in-depth look at the essential elements of developing an effective loss prevention program. Also discussed will be guidance in auditing policies and procedures.

Fraud prevention: the latest techniques. Developing and auditing loss prevention policies and procedures, Part 2 This article is for ACFE members only
Sweeping changes continue to reshape the workplace. The role of the loss prevention director has found his role dramatically changing from the primary role of protecting the organization's assets. This session provides an in-depth look at the essential elements of developing an effective loss prevention program. Also discussed will be guidance in auditing policies and procedures.

Dirty Money Takes Caribbean Cruise: Sweeping Swiss Legislation Causes Money Launderers to Seek Sweeter Pastures This article is for ACFE members only
The Swiss Money Laundering Act (MLA), which went into effect April 1998, sets an even higher standard than U.S. money laundering controls.

Earnings Management: When does Juggling the Numbers Become Fraud?
Earnings management becomes fraud when companies intentionally provide materially misstated information.

Earnings Management Revisited: Further Suggestions in the Wake of Corporate Meltdowns
Here we provide an update on earnings management, including the implications of the U.S. Sarbanes-Oxley Act of 2002, and offer suggestions for improving performance reporting in all countries.

Employee Rights: What Every Fraud Examiner Needs to Know This article is for ACFE members only
If you’re asked to investigate employee misconduct, you’ll need to know the laws that limit or even prohibit certain types of investigations.

Establishing New Complaint Procedures This article is for ACFE members only
Responsibility for handling employee complaints is new to audit committees. Committee members shouldn't rely on existing structures that direct complaints to management. Fraud examiners can help audit committees comply with the intent and spirit of section 301 of the U.S. Sarbanes-Oxley Act.

Examining fraud in developing countries: Navigating murky Third-World conditions
With the multiplicity of dialects, less structured legal systems, destroyed or nonexistent documentation, and differences in cultural expectations, fraud examiners should equip themselves with specific tools when conducting investigations in developing countries.

Expert Witnessing: The Changing Landscape This article is for ACFE members only
Many fraud examiners would like to be expert witnesses. But before you provide testimony, review the cases and rule changes that affect all testifying experts in federal cases.

Fraud and the Law: Fair Credit Reporting Act This article is for ACFE members only
The Fair Credit Reporting Act has important implications for fraud examiners when investigating an allegation of fraud. As legislation continues to evolve concerning this Act, what information is essential to you? This session explains.

FBI Combats Financial Fraud with CFEs This article is for ACFE members only
Brian Lamkin, chief of the FBI's Financial Crimes Section, directs his team of agents and analysts to tackle fraud while working toward additional recognition for CFEs.

FDA Incapable of Protecting U.S., Scientist Alleges. An interview with Dr. David J. Graham, associate director of the FDA's Office of Drug Safety This article is for ACFE members only
Dr. David J. Graham, a scientist at the U.S. Food and Drug Administration for more than 20 years, says the agency could have prevented 60,000 deaths from the arthritis drug Vioxx. But Graham, the recipient of the ACFE's Cliff Robertson Sentinel Award, says the problems at the FDA go beyond the problems of one drug.

Fighting fraud in Canada: An interview with Irwin Cotler, minister of justice and attorney general of Canada This article is for ACFE members only
Irwin Cotler, minister of justice and attorney general of Canada, has a passion for protecting the rights of others - including those citizens hurt by corporate fraud and securities violations.

Fixing Prices and Rigging Bids This article is for ACFE members only
Fraud examiners and auditors should familiarize themselves with the types of cases that can violate U.S. antitrust regulations.

Follow the Greenback Road
In this article we explore the most effective ways that fraud examiners and prosecutors prove that funds were derived from criminal activity.

Fighting fraud with technology: Following the cash This article is for ACFE members only
While there are many fraud schemes that fraudsters perpetrate, most involve, in some way, cash. Cash is embezzled, commingled, moved, and spent. Following the cash and proving the fraud can be a difficult task for all but the most experienced. In this session, you'll learn how to follow the cash money trail, and how to recover it in spite of the many hurdles, some new that you'll have to jump.

U.S. Federal Regulations - Former SEC Chief Accountant: Systemic Problems Need Fixing This article is for ACFE members only
Lynn Turner says there’s still arrogance in the public business world, more should be spent on enforcement, and higher education accounting should be taught in a “framework of making ethical decisions."

Formulas for detection: Analysis ratios for detecting financial statement fraud
Messod Daniel Beneish, Ph.D., Indiana University accounting professor, has devised analysis ratios for identifying possible financial statement frauds.

Fraud Edge: A FORUM FOR FRAUD-FIGHTING FACULTY IN HIGHER ED This article is for ACFE members only
I've always been very proud of the profession I chose, but that pride has been tested several times in the past few years since the Enron scandal with Andersen's complicity. After the Enron debacle, I received cartoon clippings from my friends and colleagues for what seemed like an eternity poking fun at the integrity, or lack thereof, of those in the accounting profession.

Fraud & the Law: Law for Fraud Examiners. The Revised Federal Sentencing Guidelines: What do they mean for organizations?
Supreme Court ruling in January 2005, federal judges were required to use the Guidelines to determine whether a defendant organization had an "effective compliance program" in place to prevent the violations for which it was being charged.

Fraud & The Law: Document retention in the wake of Andersen This article is for ACFE members only
In the wake of Arthur Andersen's demise after its involvement in the Enron case, and the subsequent U.S. Supreme Court ruling, we've all learned something about retaining (or not retaining) business documents.

Fraud & The Law. Hedge fund fraud: Curbing the growth This article is for ACFE members only
n December 2004, the Securities and Exchange Commission (SEC) published a final rule and amendments to the Investment Advisers Act of 1940 ("Act").1 The ruling required certain hedge fund advisers to register with the SEC by Feb. 1, 2006. Here we'll discuss this ruling and issues related to provide the fraud examiner an overview of the new law surrounding hedge fund fraud and attempts to curb it.

Fraud Fighters Learn Latest Techniques at 7th Annual European Fraud Conference
Attendees at the 7th Annual European Fraud Conference not only had many opportunities to network but they had a choice of 12 breakout sessions within three tracks - Current Issues, High Tech, and Practical Fraud Techniques.

From the President This article is for ACFE members only
As baseball icon Yogi Berra said, "It's tough to make predictions, especially about the future." But since we're in a time of rapid change concerning how companies and regulators deal with fraud, it's only fair that I share with you my thoughts as to what 2005 may bring for the world of fraud.

From the President This article is for ACFE members only
April 2005 may set a record for the largest number of false filings submitted to the government in a single month. These filings will come in two streams. Both will cause substantial harm to society, but in the short-term the smaller group of false filings may actually be the bigger problem.

From Sutherland to SOX: the Saga continues. A short history of fraud-fighting studies and laws This article is for ACFE members only
This bird's-eye view of five corporate crime studies in the last 50 years may help predict the future of fraud-fighting efforts in the post-SOX era.

From the President This article is for ACFE members only
We should have zero tolerance for fraud in government.

From The President This article is for ACFE members only
In the public interest, whistleblower protection legislation for government employees needs to be strong. In the United States, at least, it is so weak that whistleblowers (or sentinels as we prefer to call them) and all other citizens suffer.

Get Corporate Crooks on the Straight-and-Narrow
Legislation mandating executive transparency can go a long way toward preventing fraud.

Protecting the public interest: Fraud in government. Grant/Contract fraud in the public sector This article is for ACFE members only
Not all fraud involves the theft of assets, but rather some involve the misuse of assets. Every year, Federal, State and Local Governments award thousands of dollars in grant/contracts to vendors. However, the grant money is not always prudently managed. This session focuses on the ways and manner in which government grants are misapplied or misused, oftentimes to the benefit of the program administrator.

Effective solutions for combating employee theft: Implementing and managing a fraud hotline This article is for ACFE members only
One of the most common methods for detecting fraud is by a tip from an employee, customer, vendor, or an anonymous source. This session will focus on the benefits of utilizing a fraud hotline as well as what should be reported, and how to develop effective procedures for recording, reporting, and tracking hotline information.

Internet Transactions at Risk: New Security Solutions are Needed This article is for ACFE members only
Fraud examiners and auditors must realize that the Internet is now the preeminent fraud battleground.

FRAUDBASICS: Interview Preparation: Before you Ask the First Question… This article is for ACFE members only
Many interviews are doomed before the subject and interviewer meet together. Learn how to prepare and avoid the common pitfalls.

Identity Theft: Interviewing and Prosecuting Suspects, Part 2 This article is for ACFE members only
Examining identity theft suspects requires systematic, methodical techniques designed to yield evidence for possible prosecution.

Invasion of the Identity Snatchers, Part Two This article is for ACFE members only
Though identify theft is growing precipitously, the problem isn't untenable. Fraud examiners need to know current statistics and methods so they can fight this insidious crime.

Fraud Case Preparation: Know Your Goal, Know Your Role, Part Two This article is for ACFE members only
After you’ve prepared your report and you have law enforcement’s attention, demonstrate that you’re an asset to their process.

Fraud preventions: The latest techniques. Developing a strategy to fight fraud
Does your organization have a strategy to fight fraud? It's not enough just to detect and investigate fraud, but a well-rounded anti-fraud program will also have taken measures that will prevent fraud. Once this is implemented, everything else will fall into place. Learn how you can develop strategies that will work for you.

Law and Much Order This article is for ACFE members only
This U.S. federal prosecutor will help you review the courtroom requirements for presenting evidence and testimony, attorney-client privilege and how it affects fraud examiners, the work product doctrine, and other necessary law topics.

Using the law to fight fraud: Legal and practical issues related to fraud examinations This article is for ACFE members only
In every fraud examination, inevitably, legal issues will find their way into your case and usually at the worst possible time. In this session you'll learn some of the legal issues that you might come across in a fraud examination, and more importantly, how to resolve them before they become a serious problem.

FRAUDBASICS: The Many Faces of Fraud
A review of the legal definitions of the principal types of fraud will help sharpen our focus in searching for white-collar criminals.

Money Laundering: Ring Around the White Collar
In money laundering the fraudster disguises the existence, nature, source, ownership, location and disposition of property derived from criminal activity.

New Approaches for Fraud Deterrence
This article should provoke thought and debate among CPAs on how we might consider different approaches in the way audits are conducted in order to give the public what it really wants: business enterprises with integrity.

New Canadian Privacy Act: Canadian Law Affects Fraud Examinations This article is for ACFE members only
The Personal Information Protection and Electronics Documents Act, which went into full force Jan. 1 for all entities involved in Canadian commercial activity, seriously affects the collection and disclosure of personal information including due diligence on prospective and current employees and internal fraud examinations.

No Confession, No Evidence, No Case? This article is for ACFE members only
Fraud examiners often have to use time-honored techniques to parse the words of alleged fraudsters during an interrogation. But sometimes the absence of a suspect's deception can help make the case.

The Padding That Hurts
Auditors cannot ignore expense account cheating by management.

Partners in (Fighting) Crime This article is for ACFE members only
We decided to create a partnership between our campus police and internal audit departments to alleviate some of the work load in the internal audit department.

Fraud prevention: The latest techniques. Proactive fraud risk reviews: Page 1 This article is for ACFE members only
In order to combat the modern day fraudster, you need to stay one step ahead of the game. Management must realize that they are not immune to fraud and abuse and must be willing to root out the causes and address their concerns head on. To be successful in the fight against fraud you need a game plan that addresses all opportunities for fraud and abuse and details a plan of action. Learn what the best practices are and what you can use to perform a fraud risk review within your organization.

Fraud prevention: The latest techniques. Proactive fraud risk reviews: Page 2 This article is for ACFE members only
In order to combat the modern day fraudster, you need to stay one step ahead of the game. Management must realize that they are not immune to fraud and abuse and must be willing to root out the causes and address their concerns head on. To be successful in the fight against fraud you need a game plan that addresses all opportunities for fraud and abuse and details a plan of action. Learn what the best practices are and what you can use to perform a fraud risk review within your organization.

Promotional Funds Fraud: The Hidden Multi-million Dollar Scam This article is for ACFE members only
Promotional funds fraud is the embezzlement of hundreds of millions of dollars annually from the promotional budgets of consumer product manufacturers.

Protecting the Public Interests: Mismanagement of Government Grant and Contract Funds This article is for ACFE members only
Fraud, waste, abuse, and mismanagement of government contract and contract funds will never be eliminated. But frequent, modest proactive audits and reviews that focus on fraud indicators will help identify and prevent misuse before the funds are expended.

FRAUDBASICS: Qui Tam Suits and The False Claims Act This article is for ACFE members only
This article is an excerpt from the Association’s Fraud Examiners Manual, Third Edition. The article covers the discussion on Qui tam Suits and the False Claims Act, pages 2.273 to 2.277.

Beating fraud through internal auditing: Red flags and sources of information for internal audit This article is for ACFE members only
Studies show that most fraud against businesses originates from within. In this presentation, you'll learn some of the red flags that may indicate potential financial and ethical problems within an organization and sources of information that the internal auditor can use to proactively detect these vulnerabilities.

Sarbanes-Oxley Act This article is for ACFE members only
The Sarbanes-Oxley Act, spawned from huge corporate collapses, will not make fraud disappear. But its strong language and stiff penalties could deter some executives tempted to stray.

Sarbanes-Oxley Implementation: Giving SOX and Fraud Examiners Genuine Clout
Douglas R. Carmichael, Ph.D., CFE, CPA, chief auditor of the Public Company Accounting Oversight Board, has the tough task of guiding the standards-setting procedures of the Sarbanes-Oxley Act while balancing the interests of diverse groups.

Preventing and detecting financial statement fraud: Sarbanes-Oxley Update This article is for ACFE members only
When Sarbanes-Oxley was passed, it had a profound effect on CPA's everywhere. Now that it has had a chance to settle in, has it had the impact that was intended by its passage? Get an update on what has happened in the last year and what is expected to come in the future years. You'll also learn the potential opportunities available for your practice and the pitfalls for your clients.

Sherlock Holmes, CPA, Part 1
The first step in uncovering fraud in the auditor’s bailiwick: analyzing financial information.

SOX becoming timesaver for fraud examiners: Using the new Sarbanes-Oxley documentation This article is for ACFE members only
The new documentation required under sections 302 and 404 of the Sarbanes-Oxley Act helps fraud examiners by quickening the creation of deterrence programs and simplifying investigations.

SOX Update: Sarbanes-Oxley Issues: PCAOB issues staff Q & A, extends deadlines, tackles tax services
This column is the first in a new series designed to keep our members updated on all things Sarbanes-Oxley.

SOX Update: Sarbanes-Oxley Issues
This column is the second in a new series designed to keep our members updated on all things Sarbanes-Oxley. Due to the extreme significance and pervasiveness of the Act's provisions, keeping abreast of the recent and impending developments that stem from the original promulgation can be a daunting task.

Sox Update: PCAOB adopts rules; execs sound off on SOX This article is for ACFE members only
PCAOB adopts ethics and independence rules and Auditing Standard No. 4

SOX Update: PCAOB releases first-year AS2 report: Focuses on issues that hinder This article is for ACFE members only
"An Audit of Internal Control Over Financial Reporting Performed in Conjunction with an Audit of Financial Statements (AS2)," the PCAOB has issued a report discussing several implementation problems that were identified.

Successful SIU: Building a Special Investigation Unit That Works This article is for ACFE members only
Special Investigation Units, in the private and public sectors, can fight fraud more effectively by developing professional relationships with prosecutors, marketing capabilities, and keeping current on fraud examination issues and techniques.

Swindling the Investor: A Look into Securities Fraud This article is for ACFE members only
This article is an excerpt from the Association’s Fraud Examiners Manual, Third Edition, Vol. 1. The article covers the discussion on Securities Fraud, pages 1.1501 to 1.1518.

Taking a Byte out of Crime: Canada's first 'electronic courtroom' This article is for ACFE members only
Canada's first 'electronic courtroom' put two criminals behind bars and provided invaluable insights for the fraud examiners on the case.

Traveling the World in Style on the Company's Nickel This article is for ACFE members only
Don't ignore travel and entertainment expense reporting records. Small infractions can add up to thousands in losses and lead to greater frauds.

Truth, Transparency, and Accountability with no Political Agenda This article is for ACFE members only
An interview with U.S. Comptroller General David M. Walker, head of the General Accounting Office

FRAUDBASICS: USA PATRIOT Act and Money Laundering, Part One This article is for ACFE members only
The USA PATRIOT Act, signed into law after 9/11, strongly targets suspected money laundering activities and creates new requirements for financial institutions.

Healthcare and Insurance fraud: Using technology to detect healthcare fraud This article is for ACFE members only
Even though strides have been made to defeat health care fraud, it continues to be alive and healthy. Where fraud examiners used to have to wait for tips, technology has provided better ways of detecting fraud. And, you don't have to be a technology expert to find it. Using software that most likely you already have, you'll learn how to research and run queries to find aberrant billing patterns that have a higher probability for fraud.

The Whistleblowing Details: The False Claims Act in Practice This article is for ACFE members only
The civil False Claims Act richly deserves its reputation as the primary workhorse in the fight against fraud in all federal programs

FRAUDBASICS: Winning the Case With a Strong Written Report, Part Two
The savvy fraud examiner includes signed statements, visual aids, summaries of witnesses' statements, and the engagement contract in the written case report.

Winning the Case with a Strong Written Report This article is for ACFE members only
The written case report, often the only evidence of investigative work, forces the fraud examiner to consider his or her actions.

Preventing and detecting financial statement fraud: Worldcom bankruptcy: A fraud examiner's perspective This article is for ACFE members only
The WorldCom scandal has taught the financial world many things. It's also a classic study of what not to do in the corporate world when it comes to financial records and how to avoid disaster. In this session you'll learn about WorldCom's bankruptcy and how fraud fits in the picture. It wasn't pretty, but there are many lessons that can be learned to help prevent this from happening again.

Wrap it Up Packaging Your Case for Prosecution This article is for ACFE members only
When you decide to prosecute a fraud suspect, don't expect a prosecutor to accept your case unless you bring a professional package to the referral meeting.

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The Association of Certified Fraud Examiners assumes sole copyright of any article published in Fraud Magazine. Fraud Magazine follows a policy of exclusive publication. Permission of the publisher is required before an article can be copied or reproduced. Requests for reprinting an article in any form must be e-mailed to: FraudMagazine@ACFE.com.

 


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