The Fraud Examiner

Lessons from the ACFE Global Fraud Conference: Newest Prevention and Detection Methods

July 2013 

By ACFE Staff 


Being a successful fraud fighter means staying on the cutting edge of the newest techniques and emerging best practices in prevention and detection. At the 24th Annual ACFE Global Fraud Conference, expert presenters brought timely fraud issues to the forefront and explored ways in which fraud examiners can best be equipped to deal with them.


This article spotlights just a few of these trending issues and what was learned in presentations about them last month in Las Vegas: using social media and the Internet to fight fraud; the latest ways to maximize data analytics; and how to be prepared when fraudsters use old technology in a new fashion.


Using Intel Gleaned from the Internet and Social Media 

“Nothing is private online. We can encrypt things and put up firewalls, but there is always someone out there who can get your information.” Cynthia Navarro shared this stark reality during her presentation: “Exploiting Internet and Social Network Intelligence to Enhance Investigations.” Navarro is Principal of Finnegan's Way, an investigative consultation and training firm located in California.


What type of information could be important, both for fraudsters and investigators? A few examples:

A family photo on Facebook that also holds important time and date stamps 

An online purchase that reveals a personal interest or habit 

A business affiliation on LinkedIn that confirms a suspected insider trading tip  


Navarro pointed out the following statistic: Cisco projects that by 2022, they will have $14.4 trillion in profits solely from the Internet. That is a lot of profit from a technology that is only a few decades old.


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