16th Annual ACFE Fraud Conference & Exhibition: The watchword was 'deterrence'
Their heads were spinning. The 1,500 plus fraud examiners from 50 countries left the 16th Annual ACFE Fraud Conference & Exhibition in Washington, D.C. in July with the beneficial effects of information overload. With just about every possible fraud examination topic covered, the attendees would take weeks - months - to digest it all. But one theme was repeated by speakers throughout the general sessions, 11 tracks, and 88 breakouts: deterrence.

Fraud’s Finer Points: Case history applications - Accounts Receivable Fraud, Part Five: Eliminating Customer Accounts and Fictitious Account Adjustments
Here are learning objectives from two types of on-book accounts receivable fraud schemes the author has seen routinely in state and local government.

All Wired Up: Electronic Funds Transfers are Prime Fraud Targets
EFT systems are a prime target for fraud perpetrators wanting an immediate, enormous source of money.

An interview with Marta Andreasen, suspended chief accounting officer of the European Commission - Telling the Truth & Living in Limbo
Marta Andreasen, the European Commission’s chief accounting officer, awaits her professional fate after declaring the EC’s budget was “mas-sively open to fraud” and endures suspension because of her honesty.

Anatomy of a bank fraud: When dates don't match
Discrepancies between the dates on three bank loans and the resulting mortgages turned a routine audit into a laborious search for possible fraud. The result may have staved off collusion between a loan officer and the mortgagee.

…And Nothing But the Truth: Uncovering Fraudulent Disclosures
Since fraudulent disclosures fall into a number of recognizable patterns, knowing how these schemes work can greatly help the financial statement auditor detect them.

Art fraud forges ahead: Fraud in the collection of fine art
Art fraud and forgeries often are ignored in the world of white-collar crime. However, this small subset of fraud is growing globally as more unsuspecting novice collectors enter a world unfettered by internal controls. Learn how to detect and prevent fraud in this multibillion-dollar industry.

Avoiding the pitfalls of protected health information and fraud
Health care fraud is big business, and in more ways than just claims fraud. Protected health information (PHI) is subject to fraud and abuse. And, most people don't realize that the health benefit card is like a credit card vulnerable to thieves who steal it and use it for unlawful gain. Learn how current technology can be used for tracking how PHI is being abused and what you can do to prevent it.

Baiting the Rat Trap: Recorded statements and 'EUOs'
You can learn how to bait a trap to catch insurance offenders before they claim more money. And the interview skills you'll acquire will help in all other types of fraud examinations.*

The Barings Bank Case: Image in the Mirror
The numerous investigations into the current sensational corporate failures will expose many of the same operations control weaknesses that led to the collapse of the Barings Bank of London.

BDO not-for-profit fraud survey 2006
BDO not-for-profit fraud survey 2006

Blood Money: Lab Case Highlights Nationwide Medicaid Fraud Units
Mohammad Akthat Javid thought he had the perfect scam: he would magically transform red blood into green cash.

CASE IN POINT: Bringing Down the House: Extra Effort Found Roots of Federal Housing Funds Fraud
Executives at a large housing management firm stole thousands of federal dollars from low-income, rural rental housing projects. An extensive fraud examination found more than the initial investigation.

Case in Point: Financial statement fraud. An acquisition in wonderland?
Just like Alice in her Wonderland, the acquiring company didn't anticipate the tricks of the Mad Hatter and March Hare. But eventually the purchasers discovered the nightmare of an $18-million fraud in the company they had bought.

Catching the Little Fish that Got Away
Protect yourself against small-time frauds by insured subscribers.

The CFE Academy Experience
When I was notified that my department was sending me to the CFE Academy to learn about computer fraud, I was delighted.

Effective solutions for combating employee theft: Combating internal fraud in the banking industry: Page 1
Fraud continues to prosper in the banking industry with a variety of fraud schemes. This session will be a practical discussion of fraud schemes that are perpetrated by banking insiders. You'll also learn some of the solutions that your organization can implement to prevent the fraud from occurring.

Effective solutions for combating employee theft: Combating internal fraud in the banking industry: Page 2
Fraud continues to prosper in the banking industry with a variety of fraud schemes. This session will be a practical discussion of fraud schemes that are perpetrated by banking insiders. You'll also learn some of the solutions that your organization can implement to prevent the fraud from occurring.

Commercial Mortgage Fraud: Cash Out, Fraud In - PART ONE
There is no shortage of desperate or fraudulent property owners in todays market for commercial mortgage loans. Cash-out refinancing is one favorite way to bail out of a troubled property. This primer offers advice to fraud examiners, lenders, and appraisers on how to spot and prevent these and other frauds.

Commercial Mortgage Fraud: When Fraudsters Bet the House and Win, Part Two
It’s a volatile combination: high volume of cash-out refinancing loans, declining performance of commercial properties, and relentless production pressures on internal loan officers. The resulting concoction often is fraud.

Using the law to fight fraud: Conducting kickbank investigations
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.

Construction Fraud: Beware the ‘Outside Facilitator’
Crafty manipulators will use weak employees at construction job sites to defraud companies for many months – long before the home office smells any problems.

Current Issues: Corporate Governance and Sarbanes-Oxley. What you need to know
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.

Corruption and Fraud Stunt Third-world Growth
Corrupt officials burden developing countries with unfinished projects and crushing debt - conditions that lead to economic decline and international terrorism.

Corruption and Fraud Stunt Third-world Growth, Part Two
Corrupt officials burden developing countries with unfinished projects and crushing debt - conditions that lead to economic decline and international terrorism.

Corruption: Causes and Cures
Auditors can help detect and deter bribery and kickbacks.

Corruption in Collegiate Sports
Internal audit departments are challenged by the deep pockets and often unbridled power of big-time college athletic departments.

Corruption in Collegiate Sports: U.S. University Athletic Programs Vulnerable to Devastating Fraud


Cracked Foundation: Corruption in Public Construction
This project manager for a public construction agency had earned its trust but had stolen its dollars – thousands of them. Learn how he did it and how the agency reformed.

Crossed Wires: Keys to Reducing Wire Transfer Fraud
With today’s growing emphasis on a cashless society, wire transfers increased by 200 percent just in 1998.

‘Damaged’ Fingers? Minimized Employee Accident Report Forms Lead to $600,000 in Fines and Penalties
Investigators found that the company had intentionally downplayed a number of serious injuries, which resulted in the company receiving hundreds of thousands of dollars in government rebate money.

Devious Diversions: Medical Providers Illegally Take Control over Controlled Substances
Unscrupulous medical providers divert narcotics from hospital inventories, so they can resell them for profit or personally abuse them.

FBI Combats Financial Fraud with CFEs
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
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.

Fool Me Once, Fool Me Twice
Two collection agencies - which bought delinquent credit card and other bank debt - raised millions based upon misrepresented collection histories and the misapplication of GAAP.

Fraud Edge: A FORUM FOR FRAUD-FIGHTING FACULTY IN HIGHER ED
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.

Protecting the public interest: Fraud in the government, Lessons learned while building an investigative procurement fraud detection program
It’s a fraud that affects both the public and private sector — procurement fraud. It’s also a fraud that is difficult to detect. In this session, you’ll learn how to build a proactive investigative procurement fraud detection program and how to avoid making some mistakes that could be costly and program counter-productive. Also discussed will be procurement fraud risk analysis, financial system data-mining, and the need for procurement fraud referrals.

Protecting the public interest: Fraud in the government: Stealing from the court, a case study
The analysis of any employee embezzlement fraud case study begins with the basics – the who, what, when, where, and how.

Fraud Edge: Cleaning our Own House. De-frauding the halls of academe
As Certified Fraud Examiners, we learn that three factors, collectively referred to as the Fraud Triangle, may portend fraudulent behavior. According to the late Donald Cressey, when pressures/incentives, opportunity, and rationalization converge, the environment is ripe for fraud. Although many may presuppose that academe is above such behavior, history has shown otherwise. All types of organizations are susceptible to fraud - even colleges and universities.

Fraud Edge: Fraud examination in the classroom: A CFE's experience as a professor
We've all heard the cliché, "the grass is always greener..." Well, I've found that one sure way to appreciate another person, is to try to do their job. Sergeant Jay J. Leiner, MAOM, CFE, of the Broward Sheriff's Office Economic Crime Unit in Fort Lauderdale, Fla., did just that. Following is an account of his experience in the classroom, from a practitioner's perspective.

Fraud in Churches and Religious Groups: Stealing from the Collection Plate
Churches and religious groups are at a greater risk for financial misconduct because of the nature of their missions and management structures. Here's how fraud examiners can help deter theft and the loss of a congregation's trust.

Fraudsters in cyberspace: Growing global Internet menace, Part Two
Law enforcement, regulatory authorities, and consumer organizations have alerted the public to Internet fraud schemes over the past few years. Here are 17 types of schemes that have most victimized Internet users worldwide.

From The PRESIDENT
Sentinels should be highly valued and respected but they’re often branded as disgruntled employees by managers eager to discredit their allegations. Marta Andreasen, a sentinel at the European Commission, has paid a high price for reporting weak or missing internal controls.

From The President
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.

Protecting the public interest: Fraud in government. Grant/Contract fraud in the public sector
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.

Health-Care Fraud and 'PHI': Employers protecting employees & bottom line
Your employees' "protected health information" - names and addresses, social security numbers, payment histories, diagnoses - can be stolen or misused. Learn how your entity can protect its employees and add to the bottom line.

Health-care fraud drains lifeblood from patients, system: Interview with Byron Hollis, Esq., CFE, AFHI, National Anti-Fraud Director of Blue Cross Blue Shield Association
Interview with Byron Hollis, Esq., CFE, AFHI, National Anti-Fraud Director of Blue Cross Blue Shield Association

Protecting the public interest: Fraud in the government. Identifying and investigating financial reporting fraud of non-profit entities
Non-profit organizations may have different financial objectives, but when it comes to fraud, they are not immune. In this session, you'll learn the many methods of fraudulent financial reporting and the motives behind each. Also discussed will be how to investigate non-profit organizations and how to detect fraud.

Insidious Mold Fraud
Mold has existed before humans and will probably outlast us but recent huge mold insurance claims have inspired fraudsters to make some quick money.

Healthcare and insurance fraud: International piracy losses in the insurance industry
The International Maritime Bureau runs the Piracy Reporting Centre which provides the most comprehensive information on piracy worldwide. In today’s world of instant communications and geographical positioning systems (GPS) how can this ancient crime continue to thrive? This session examines the types of attacks, the numbers, and world hotspots using examples of real cases. It will conclude with measures being taken against piracy and thoughts on the way ahead.

Rapid reformer: An interview with Eliot Spitzer, New York state attorney general
Fraud examiners need only basic computer skills and the help of systems administrators to mine for gold and find vital evidence for fraud examinations.

Healthcare and insurance fraud: Investigating provider fraud: A case study
Provider fraud can be the most difficult fraud case to investigate and prove. But it is done and done successfully. Using auditing techniques to identify suspicious billing trends, the fraud was first identified and then proved. In this case, this doctor stole from many different insurance carriers and is now paying the price.

Lapping It Up
Lapping is the fraudster's version of robbing-Peter-to-pay-Paul skimming.

Using the law to fight fraud: Legal and practical issues related to fraud examinations
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.

Living Longer, Dying Slower: Long-term Care Insurance Fraud
All fraud examiners must know about this impending assault on both the global health care sector and the public’s financial reserves.

Modern-day Horseplay: Trojan Horse Fraud
Don't let Trojan horse fraud buck your company's financial future.

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.

Preventing Fraud: Tips for Small Business Owners
All businesses, no matter the industry or size, can be targets of fraud. However, small businesses tend to have disproportionately large losses from asset misappropriation, and are far less likely to recover from fraud.

Protect Small Business
Small businesses - Especially those that do not have regular audits - have every reason to worry about fraud.

Protecting the Public Interests: Mismanagement of Government Grant and Contract Funds
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 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.

Preventing and detecting financial statement fraud: Sarbanes-Oxley Update
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.

Soft Dollar Fraud: Diversion of Funds from a Directed Brokerage Account
Soft dollars also exist in the business world. Examples include free tickets awarded through airlines’ frequent flier programs, points given by medical device suppliers toward free training programs in exotic locations or on cruise ships to healthcare pro

The Sophomore Slump: Improving Internal Controls in Small Businesses Once They Succeed
The real difficulty that anti-fraud professionals face in small businesses once they succeed isn't designing or implementing financial controls but convincing owners to make the necessary investments and give up sufficient authority to allow the controls to work.

Insurance / Health Care Fraud: Stopping the Fraud: What's worked and what hasn't
After you completed a complex insurance fraud case, you usually go back and see what could have been done to prevent the fraud from occurring. Sometimes you can make changes and sometimes you can't. In this session you'll learn what measures that have put in place that have been successful and what's failed.

Successful SIU: Building a Special Investigation Unit That Works
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.

Tracking Troublesome Travelers: Preventing Travel Fraudsters from Flying into the Sunset
Let’s review how fraud examiners can inspect air travel records to find incriminating evidence that can help nail flying fraudsters.

Healthcare and Insurance fraud: Using technology to detect healthcare fraud
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
The civil False Claims Act richly deserves its reputation as the primary workhorse in the fight against fraud in all federal programs

The Whole, Not the Parts
Outcome-oriented fraud auditing - looking at a situation as a whole rather than its individual parts - will help you think like a fraudster and find deeply embedded crimes.

Who’s in Control Here? Anatomy of a Bank Infrastructure’s Failure
A bank can have the most airtight internal control structure imaginable, but if senior management sends out signals that some people in the organization are above these rules, major frauds can result.

The World’s Dumbest Fraudsters
I've searched high and low to bring you examples of the dumbest of the dumbsters. And I admit it up front: The only lesson to be learned is just how stupid some people can be.

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