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Fraud Prevention / Internal Controls

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Fraud’s Finer Points: Accounts Receivable Fraud, Part Five: Other Accounting Manipulations This article is for ACFE members only


All Wired Up: Electronic Funds Transfers are Prime Fraud Targets This article is for ACFE members only
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 This article is for ACFE members only
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.

The Barings Bank Case: Image in the Mirror This article is for ACFE members only
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.

The Brain Drain: Theft of Intellectual Property This article is for ACFE members only
Companies should have policies and procedures in place to protect against both legal and illegal intelligence gathering.

The CFE Academy Experience This article is for ACFE members only
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 This article is for ACFE members only
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 This article is for ACFE members only
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.

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.

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

Corruption and Fraud Stunt Third-world Growth, Part Two 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.

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

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

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.

Designing a Robust Fraud Prevention Program, Part Two
Entities worldwide must transform security departments into rigorous fraud prevention programs staffed with qualified fraud examiners.

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.

Enemies Within
In a study of 2,608 cases of occupational fraud and abuse, we learned that asset misappropriation can be subdivided into specific types.

Ethics or Employment? How One Accountant Chose Morals over Money This article is for ACFE members only
My surprise first encounter with fraud began with a search to find a better job. It ended with losing my new position, but keeping my integrity and CPA license intact.

A Fistful of Dollars
The best fraud prevention efforts will concentrate on increasing an employee's perception of being caught.

Follow the MAPP: Develop an Aggressive Way to Fight Money Laundering This article is for ACFE members only
These four steps can help you MAPP out a plan to fight money laundering within your organization.

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

Fraud Forum Results This article is for ACFE members only
The Association is proud to announce the results of the first-ever Occupational Fraud Forum.

Fraud in the Cards: Credit Card Misuse Explodes Globally This article is for ACFE members only
Fraud examiners can help tackle the problem by exposing credit card fraudsters' methods and by promoting training in the cards industry, government, and law enforcement.

Fraud's Finer Points: Case History Applications This article is for ACFE members only
I'm closing our discussion about accounts receivable fraud with this column by unveiling some of the more creative methods fraud perpetrators use to steal money from the organization. We'll also examine some learning objectives from the final type of on-book accounts receivable fraud scheme I see routinely in state and local government.

Fraud's Finer Points: Cash Larceny, Part Two: Internal Controls at Decentralized Locations This article is for ACFE members only
In the previous column, we discussed the issue of no fixed responsibility when losses of funds occurred. We continue the topic by reviewing internal controls at decentralized locations within the entity. When cash receipting losses occur, sometimes there's fixed responsibility and sometimes there isn't. Let's explore why this condition occurs by studying two fraud case studies.

Global Composite Model: A Plan to Detect and Prevent Fraud Worldwide This article is for ACFE members only
Entities throughout the world are devising models to detect and prevent fraud in the workplace. This CFE from the United Kingdom constructs a composite from three countries that can be adapted to any public or private entity.

Global Risks Reduced: International Business Doesn’t Have to Be Risky This article is for ACFE members only
Being aware of and prepared for issues like personal safety, office supply needs, technology, and language barriers will help you adapt more smoothly to a foreign environment. Even more important is understanding the business culture of the country you’

How to Screen Job Applicants to Avoid Potential Employee Fraud
Conduct background checks for any potential employee who will have constant access to cash, checks, credit card numbers or any other items that are easily stolen.

Keep Ghosts Off the Payroll
Strong internal controls and well-trained, attentive auditors can prevent phony-employee schemes.

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

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.

Let Them Know Someone’s Watching
Those who perceive they will be caught engaging in fraud are less likely to commit it.

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.

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 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.

Risky Business: Conducting the internal fraud risk assessment This article is for ACFE members only
Devising and conducting an internal fraud risk assessment may be a daunting task, but every fraud examiner should have the essentials to get the job done. Here are some steps you can take to prevent and detect fraud.

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.

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.

Fraud's Finer Points: Case History Applications. Skimming revenue, part one: The highest-risk employee This article is for ACFE members only
After a lengthy discussion of accounts receivable fraud, it's time to focus our attention on other prime areas where fraudsters abuse the systems of internal control to raid organizations' treasuries for their own personal benefit. With this column, we begin a journey through the many facets of cash receipting and types of fraud that occur in every organization. Our first step involves skimming: removing funds prior to recording accountable transactions in the accounting system.

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.

Starting Out: For and About Fraud-Fighting Students in Higher-Ed This article is for ACFE members only
Who learns more, the teacher or the student? The answer to this question is irrelevant in today's world since each of us needs to be CONTINUALLY learning as a student and sharing our knowledge as a teacher. In this column we get to access the knowledge of the best and brightest who are entering the fraud profession.

Starting out: Students: This Column is for You! This article is for ACFE members only


The Suspense Could Kill You: Fraud Committed Through General Ledger Suspense Accounts This article is for ACFE members only
Devise a logical examination process to find fraud committed through general ledger suspense accounts.

Timing is of the Essence
When companies get desperate to show earnings or reduce losses, sometimes they resort to fraudulent timing differences to show phony profits.

'Tis the Season to be Wary: Fraudsters Take Advantage of Charitable Spirit During Holidays This article is for ACFE members only
The holiday season – it’s a time for giving thanks and wishing good will toward all men, but it’s also a perfect time for con artists to prey on the charitable spirit of others for their own financial gain.

Whom Do You Trust? Doing Business and Deterring Fraud in a Global e-Marketplace This article is for ACFE members only
Eye-to-eye' business deals quickly are being replaced by 'I-to-I' electronic transactions. Speed and efficiency are displacing trust and verification.

Who’s in Control Here? Anatomy of a Bank Infrastructure’s Failure This article is for ACFE members only
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.

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.

This article is for ACFE members only. Click here for information about membership.

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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