Dick Carozza, CFE
Dick Carozza, CFE, is the former and first editor-in-chief of Fraud Magazine, serving in the role for 25 years prior to his retirement in 2021.
Banking on experience
Jennifer Shasky Calvery, the recipient of the 2017 ACFE Cressey Award, fought fraud for 20 years in the U.S. federal government — most recently as the FinCEN director. Now she uses her experience to tackle money laundering and other crimes in the international banking world.
Written By: Dick Carozza, CFE
Preparation and flexibility are keys to good interviews
We asked some experienced CFEs to ponder their interviewing philosophies and techniques. Their responses are diverse and thought-provoking. Now let us know what you think.
Written By: Dick Carozza, CFE
Spying on a master spy
The FBI had tasked Eric O’Neill to investigate Robert Hanssen, a 25-year FBI veteran and suspected spy for the Russians, but he’d have to do it face to face as Hanssen’s office assistant. O’Neill’s courageous work helped bring Hanssen down and end the greatest security breach in U.S. history.
Written By: Dick Carozza, CFE
Dauntless digger
Investigative reporter Andrew Jennings, the 2017 ACFE Guardian Award recipient, has been chasing bad men around the world for more than three decades. He’s dug into the crimes of the members of the International Olympic Committee. And his discoveries at FIFA have led to the eventual indictment and convictions of scores of fraudsters. And he’s still ready with the shovel.
Written By: Dick Carozza, CFE
Why do they do it?
Harvard business professor Eugene Soltes is on a years-long quest to discover why topflight executives become white-collar criminals. His conversations with close to 50 convicted criminals so far have led to insights on hubris and humility — not just in them but in all of us.
Written By: Dick Carozza, CFE
Serendipity in interviews
In part one, experienced CFEs described how preparation and flexibility are the keys to good interviews. Here they discuss how they can discover surprising new evidence by asking incisive questions and waiting for serendipitous moments. We also cover question typology, body language, moving toward admissions and more.
Written By: Dick Carozza, CFE
Where heroes unite
More than 3,000 anti-fraud heroes gather at the largest anti-fraud conference in the world to learn new techniques in their fight against fraud.
Written By: Emily Primeaux, CFE, Dick Carozza, CFE
The challenge of the chase
The ACFE Board of Regents ponder the exciting, frustrating and exquisite challenges of the fraud examination profession during the 28th Annual ACFE Global Fraud Conference.
Written By: Dick Carozza, CFE, Emily Primeaux, CFE
Corruption in Collegiate Sports
Internal audit departments are challenged by the often unbridled power of college athletic departments, but must still seek ways to implement appropriate checks and balances to help ensure the integrity of their organizations.
Written By: Dick Carozza, CFE, Dr. Joseph T. Wells, CFE, CPA
Moving fraud awareness from the back room to the boardroom
The ACFE’s Report to the Nations on Occupational Fraud and Abuse has led to the classification and analysis of thousands of occupational frauds. But, perhaps, more importantly, it has shown organizational management and the public the dire need for well-planned fraud awareness, deterrence and prevention programs.
Written By: Dick Carozza, CFE
He fought Halliburton and won
Tony Menendez, CFE, found some questionable accounting practices at Halliburton. When he realized the company was knowingly violating Securities and Exchange Commission rules — and the SEC wasn’t going to investigate — he brought a whistleblower claim against Halliburton for violating his rights under the Sarbanes-Oxley Act. After a nearly nine-year fight, he was vindicated.
Written By: Dick Carozza, CFE
27th Annual ACFE Global Fraud Conference
In one week in June, more than 3,000 fraud fighters met in Las Vegas to fill up their tanks and charge their batteries with hours of practical anti-fraud techniques and networking with peers. And to revel in their value to the anti-fraud profession.
Written By: Dick Carozza, CFE
Let's do some brainstorming
What happens when you fill a boardroom with highly intelligent people and ask them a few questions about fraud topics? You yield 90 minutes of insights that can’t be contained in one article. In this article, the Board of Regents discuss new frauds on the horizon, data breaches, new practices and training millennials as practitioners.
Written By: Dick Carozza, CFE, Emily Primeaux, CFE
Shell shocked
The leak of the huge cache of offshore data in the Panama Papers reveals decades-old shell companies — many of which fraudsters have used to launder money and hide crimes. How can fraud examiners use the data? Will the revelations cause governments to overcompensate with overbearing regulations? Or will the exposé ultimately be ignored because unethical systems are so entrenched?
Written By: Dick Carozza, CFE
Memorable cases, part 1
ACFE faculty members share some notable cases from the trenches with practical principles that you can apply.
Written By: Dick Carozza, CFE
Back home to the ACFE
After 16 years as a U.S. special agent, Liseli Pennings, CFE, returns to the ACFE to help worldwide agencies fight fraud and work efficiently with private sectors.
Written By: Dick Carozza, CFE
Uncovering hidden billions in China
New York Times reporter David Barboza — a keynoter at the 27th Annual ACFE Global Fraud Conference — discovered at least $2.7 billion in assets controlled by relatives of the former Chinese premier. Read how he found the smoking guns among public records.
Written By: Dick Carozza, CFE
Memorable cases, part 2
ACFE faculty members share more notable cases from the trenches with practical principles that you can apply.
Written By: Dick Carozza, CFE
Truth revealed
Senior U.S. District Judge Jed S. Rakoff, keynoter at the upcoming 27th Annual ACFE Global Fraud Conference, hasn’t shied from vividly chastising Wall Street and the U.S. government in the wake of the Great Recession.
Written By: Dick Carozza, CFE
Indefatigable investigator
Jules Kroll assembles diverse professionals — fraud examiners, forensic accountants, academics, investigative journalists, former prosecutors and attorneys — to fight fraud. That’s been his modus oprandi since 1972. As chairman and cofounder of K2 Intelligence, he continues that course.
Written By: Dick Carozza, CFE
ACFE 31st Annual Fraud Conference Successful Virtual Turnaround
The ACFE had three months to plan a virtual 31st Annual ACFE Global Fraud Conference from scratch. The result is in the numbers and responses: 4,472 attended and 94 percent of the participants were satisfied. Lemonade never tasted so good.
Written By: Dick Carozza, CFE
Navigating a misshapen world
January of this year now seems like a quaint time. Since then, the world has stretched in bizarre ways, and it probably won’t ever resume its previous shape. The Board of Regents want to encourage you as your organizations need your anti-fraud skills more than ever.
Written By: Dick Carozza, CFE, Emily Primeaux, CFE
Priti Amin, CFE
When Priti Amin, CFE, was young she knew she wanted to do something that helped others because honesty, trust and personal integrity were important to her. Those values compelled Amin in her journey to fight fraud. Within Vodafone Group, a global technology communications organization, Amin is the Vodafone Business fraud manager. She’s responsible for managing fraud risks for the entity, its products, services and customers.
Written By: Dick Carozza, CFE
Six candidates selected for ACFE Board of Regents’ ballot
Six candidates have been selected to compete for two positions on the 2021-2022 Board of Regents. The board sets standards to promote professionalism and to ensure the reputation of the CFE credential.
Written By: Dick Carozza, CFE
Predication or not?
CFEs discuss how they know when they should devote resources to launch fraud examinations or at least preliminary investigations.
Written By: Dick Carozza, CFE
The smoke detector
Howard Wilkinson smelled smoke when he was a trader for the Estonian branch of Danske Bank. The fire he discovered is a $230 billion debacle — possibly the largest-ever money-laundering scheme. Wilkinson’s investigative skills could help accelerate European reforms.
Written By: Dick Carozza, CFE
Want to be an expert witness?
Here’s brutal honesty from CFEs who’ve spent decades as expert witnesses. Prerequisites: thick skin, penchant for over-preparedness and meticulousness, ability to think quickly, poise and a supply of heavy-duty deodorant.
Written By: Dick Carozza, CFE
Fear not the breach!
Cybersecurity expert Theresa Payton says don’t wait until you’re in the middle of a breach to formulate plans. Practice digital disasters. Develop a playbook so everybody knows their roles. Line up your external helpers. Devise your communication strategy. Then, if you’re breached, cooler heads will prevail.
Written By: Dick Carozza, CFE
Stepping up and standing out
When ACFE Founder and Chairman Dr. Joseph T. Wells, CFE, CPA, stepped up to the podium at the 30th Annual ACFE Global Fraud Conference in Austin in June, the ACFE’s accumulated history accompanied him. As he accepted his induction into the ACFE Hall of Fame, he received it as a representative of the thousands who, but for his foresight, probably never would’ve received fraud examination education and skills.
Written By: Dick Carozza, CFE
Transforming corporate cultures by placing CFEs in top echelons
During an interview at the 30th Annual ACFE Global Fraud Conference, the Board of Regents opined on how to change corporate cultures, new corporate compliance guidance, ethics vs. profits and more.
Written By: Dick Carozza, CFE
Norman DeBoer, CFE
The ACFE presented Norman DeBoer, CFE, the Certified Fraud Examiner of the Year award at the 30th Annual ACFE Global Fraud Conference in June. DeBoer, a detective with the Waterloo (Ontario, Canada) Regional Police Service for 29 years, completed in 2018 the precedent-setting $12 million financial advisor fraud case of Daniel P. Reeve, who received a 14-year prison sentence.
Written By: Dick Carozza, CFE
Happy 80th birthday to the term ‘white-collar crime’
You might not know it, but today is an important day for you. On Dec. 27, 1939 — 80 years ago — criminologist Dr. Edwin Sutherland, while speaking to the American Sociological Society, coined “white-collar crime” and placed the cornerstone in the foundation for the fraud examination profession.
Written By: Dick Carozza, CFE
Learning the art of fraud examination
CFEs love fraud examinations that move in a linear fashion — from the general to the specific, gradually focusing on the perpetrator through evidence analysis. But life, of course, seldom moves in a straight line.
Written By: Dick Carozza, CFE
What really motivates people to be honest in business?
What really motivates people to be honest in business? That’s just one question economist Alexander F. Wagner is asking in his research. This University of Zurich professor will speak on some of his developing answers at the 2019 ACFE Fraud Conference Europe March 27-29 in Zurich.
Written By: Dick Carozza, CFE
They empathize because they do what you do
The ACFE Board of Regents offer their counsel and ruminate on the dynamic anti-fraud profession during the 29th Annual ACFE Global Fraud Conference.
Written By: Dick Carozza, CFE, Emily Primeaux, CFE
Will job losses from robots lead to more fraud?
Technology futurist Martin Ford ponders how job losses and stagnant wages can lead to an increase in fraud, waste and abuse. His research indicates that anti-fraud professionals would do well to become amateur seers.
Written By: Dick Carozza, CFE
Small town, huge fraud, insightful documentary
Kelly Richmond Pope, Ph.D., CFE, CPA, an associate accounting professor, has produced and directed a riveting documentary, “All the Queen’s Horses,” about Rita Crundwell’s historic $53 million embezzlement from the city of Dixon, Illinois.
Written By: Dick Carozza, CFE
Dixon's quiet hero
The ACFE’s 2018 Sentinel Award recipient had no intention of changing her orderly life as the city clerk of Dixon, Illinois. And then she found a secret account in city ledgers that led to discovery of Comptroller Rita Crundwell’s astounding $53.7 million fraud. Kathe Swanson’s life will be forever marked by her simple heroic decision.
Written By: Dick Carozza, CFE
Europol is uniting EU against fraud
Why do we have so much trouble preventing and deterring fraud across borders? You know the answer: lack of cooperation. However, most European law enforcement organizations don’t want to compete with each other. They want to help each other deter and prevent crime. But they need some overarching force to help them work together. That’s where Rob Wainwright and Europol come in.
Written By: Dick Carozza, CFE
ACFE Austin Chapter arranges ‘James D. Ratley Day’ in Austin, Texas
ACFE Austin Chapter officers presented a proclamation from the Austin, Texas, mayor naming March 31, 2018, “James D. Ratley Day” to Ratley on the front porch of the historic Gregor Building at the ACFE Headquarters.
Written By: Dick Carozza, CFE
A doping dichotomy
A man in Los Angeles was determined to make a documentary that showed the anti-doping system in sport was a fraud. A man in Moscow helped construct that fraud. When Bryan Fogel and Grigory Rodchenkov met in 2015, neither could have guessed they’d land together in the middle of a dangerous geopolitical crisis that would expose decades-long corruption, shake up the Olympics and, ultimately, produce the riveting documentary, ICARUS.
Written By: Dick Carozza, CFE
Wanted: Gutsy fraud fighters
Interview with Preet Bharara, U.S. Attorney for the Southern District of New York
Written By: Dick Carozza, CFE
The ACFE and its members evolve
Overview of events and highlights from the 24th Annual ACFE Global Fraud Conference
Written By: Dick Carozza, CFE
‘This is a battle, and we’re fighting side by side’
Interview with James Ratley about history of ACFE
Written By: Dick Carozza, CFE
Second generation creates its own history, part 1
Interview with 27 young CFEs to give readers a picture of the face of the fraud examination profession in the next quarter century
Written By: Dick Carozza, CFE
A wealth of talent, passion and tenacity: An interview with the ACFE Board of Regents
As the ACFE begins celebrating its 25th year, Fraud Magazine invited the board members to a roundtable discussion to consider the future of the fraud examination and the ACFE.
Written By: Dick Carozza, CFE
Second generation speaks
Part 2 of 2-part article on the future of the ACFE, as seen through the newest CFEs
Written By: Dick Carozza, CFE
He sought and brought out the best in everyone: Gilbert Geis, Ph.D., CFE (1925 – 2012)
Memorial article on Gil Geis, with interviews from colleagues and admirers.
Written By: Dick Carozza, CFE
In the company of criminals
Interview with Chris Mathers who worked undercover for 20 years for the Royal Canadian Mounted Police (RCMP), the U.S. Drug Enforcement Administration (DEA) and the former U.S. Customs Service.
Written By: Dick Carozza, CFE
Intensifying the Network: An Interview with James H. Freis Jr., Director of FinCEN
James H. Freis Jr., Director of the US Financial Crimes Enforcement Network, recently spoke to Fraud Magazine about FinCEN's mission and what fraud examiners need to know.
Written By: Dick Carozza, CFE
She Dealt a Death Blow to Illinois 'Pay To Play': An Interview with Pamela Meyer Davis
An Interview with Pamela Meyer Davis, ACFE's 2009 Cliff Robertson Sentinel Award Recipient and whistleblower whose efforts led to the arrest and indictment of former Illinois Gov. Rod Blagojevich
Written By: Dick Carozza, CFE
What Happened in Vegas: 20th Annual ACFE Fraud Conference & Exhibition Sets Attendance Record
The 20th Annual ACFE Fraud Conference & Exhibition in Las Vegas sets attendee record despite recession. Read highlights from the event.
Written By: Dick Carozza, CFE
An Interview with Michael Chertoff: Before Homeland Security, a Life of Fraud Fighting
Michael Chertoff, Secretary of the U.S. Department of Homeland Security, speaks to Fraud Magazine about the lessons he has learned in his career as a fraud fighter.
Written By: Dick Carozza, CFE
Relentless TARP Watchdog: An Interview with Neil Barofsky, Special Inspector General for the Troubled Asset Relief Program
Neil Barofsky walked into an enormous, historic job when he became the special IG for TARP last year. But he knows that his relentless push for transparency and dogged pursuit of fraudsters will protect his bosses – the American taxpayers.
Written By: Dick Carozza, CFE
An Interview with Ralph Q. Summerford, CFE, CPA
Learn from CFE and business owner Ralph Summerford as he shares lessons from the early days of his firm to the challenges he now faces.
Written By: Dick Carozza, CFE
Chasing Madoff: An Interview with Harry Markopolos
Harry Markopolos, CFE, CFA, couldn’t have known that his first fraud examination would last nine years and uncover the largest-ever Ponzi scheme.
Written By: Dick Carozza, CFE
It's All Digital Now: Computer Forensics Training a Necessity
Computer forensics investigations must be a critical component of your tool kit and special training will help you hire experts, find digital evidence, and prepare for a judge and jury.
Written By: Dick Carozza, CFE
Spotting those elusive liars: An interview with Pamela Meyer, CFE
After an epiphany at her Harvard reunion, Pamela Meyer, CFE, embarked on a three-year research adventure to discover how and why people deceive. She shares much of what she learned so fraud examiners can become liespotters.
Written By: Dick Carozza, CFE
'The Wizard of Lies' describes a tragedy of Shakespearean proportions
Interview with Diana Henriques, the first reporter to obtain jailhouse interviews with Madoff, and who muses about the damages he caused and the lessons for all.
Written By: Dick Carozza, CFE
The Real Cost of 'Choosing Truth Over Self'
Article and interview with Michael Woodford, 2012 Sentinel Award recipient and Olympus whistleblower
Written By: Dick Carozza, CFE
Building a Robust Fraud Prevention Program
Martin Biegelman, CFE, ACFE Fellow, discusses the fraud prevention program he built as a director at Microsoft: Microsoft's Financial Integrity Unit. Biegelman explains the structure and purpose of the FIU and how it contributes to a culture of compliance.
Written By: Dick Carozza, CFE
Mortgage Fraud Trends
At age 35, "Roger Buckley" was ready to settle down to raise a family and get serious about financial planning for the future. His career was on track with a CPA firm. He made good money, drove a new car, lived in a nice home he had purchased, and had paid off the last of a student loan and other college-related debts. But he wanted more.
Written By: Dick Carozza, CFE
Sentinels We Have Known
Fraud examiners have tough jobs, but they could be tougher without sentinels -- courageous insiders who risk all to do what's right. Here we revisit sentinels who have been honored through the years in Fraud Magazine.
Written By: Dick Carozza, CFE
The Association that Generated a Movement
In a mere two decades, the ACFE has produced a grass-roots, anti-fraud movement that's just getting started. Though the ACFE seemed to spring up almost overnight, its philosophical ideas had been brewing in Wells' imagination for years.
Written By: Dick Carozza, CFE
Pondering the Good Fight: ACFE Board of Regents' Interview
Members of the Board of Regents discuss the ACFE's effect on the profession, looming frauds, global topics, spreading the word, anti-fraud research, and catching the bad guys.
Written By: Dick Carozza, CFE
Fighting For Airline Safety: An Interview with ACFE Sentinel Award Recipient Mark Lund
The FAA has returned Mark Lund to his original duties as a safety inspector, and he continues to be one set of "eyes and ears of the airline passenger," as he says. For his courage and tenacity in protecting the public, the ACFE has awarded Lund its 2008 Cliff Robertson Sentinel Award.
Written By: Dick Carozza, CFE
Extraordinary Circumstances: An Interview with Cynthia Cooper
Cynthia Cooper, corporate whistleblower, discusses her discovery of one of the largest frauds in corporate history while she was vice president of internal audit at WorldCom in Mississippi.
Written By: Dick Carozza, CFE
Identifying Psychopathic Fraudsters: Interview with Dr. Robert D. Hare and Dr. Paul Babiak
Not all psychopaths become fraudsters, but some fraudsters are psychopaths. A fraud examiner's job is to help deter fraud by discretely noticing those employees who might be exhibiting psychopathic tendencies.
Written By: Dick Carozza, CFE
Negotiator, Interviewer, Listener: Interview with Sen. George Mitchell
Sen. George Mitchell knows that listening leads to valuable interviews and substantive negotiations - vital strengths for fraud examiners. He will share his techniques and his observations on the Middle East, Northern Ireland, the Olympics, and Major League Baseball in his keynote address at the 19th Annual ACFE Fraud Conference & Exhibition.
Written By: Dick Carozza, CFE
Unclaimed Property Fraud: Forgotten But Not Gone
Millions of "forgotten" dollars in payroll checks, utility deposits, bank accounts, money orders, unredeemed gift cards, and stock dividends are sitting in company coffers as unclaimed property. Make sure your organization follows all regulations, remits property to the state, and installs stringent internal controls.
Written By: Dick Carozza, CFE
Persistent Sentinel: An Interview with Bunny Greenhouse
This column features an interview with Bunny Greenhouse, recipient of the 2006 Cliff Robertson Sentinel Award.
Written By: Dick Carozza, CFE
Clarifying Complexities: An interview with expert IT forensics analyst Frank Hydosk
Most of us are daunted by a complicated case's massive quantities of data. But Frank Hydoski, an internationally recognized forensics expert, says take a deep breath, formulate the basic question of the case, use technology wisely, and don't forget your intuition.
Written By: Dick Carozza, CFE
ACFE and AICPA utilize strengths to fight fraud: Interview with Barry C. Melancon, CPA, President and CEO of the AICPA
Why do the Association of Certified Fraud Examiners and the American Institute of Certified Public Accountants work together? The main reason is to protect the public interest, according to AICPA President and CEO Barry C. Melancon, CPA. Melancon spoke to Fraud Magazine from his office in New York, N.Y.
Written By: Dick Carozza, CFE
Fighting fraud with research: Interview with Dr. William K. Black, Executive Director of the Institute for Fraud Prevention
We can't fight an enemy that we don't know. The Institute for Fraud Prevention, directed by Dr. William K. Black, is striving to build a statistical foundation that will increase the global body of knowledge and improve anti-fraud efforts. Black spoke to Fraud Magazine from his office in Santa Clara shortly before he began his new position as associate professor of economics and law at the University of Missouri at Kansas City.
Written By: Dick Carozza, CFE
Health care fraud drains lifeblood from patients, system
Byron Hollis, the national anti-fraud director for Blue Cross Blue Shield Association, spoke to Fraud Magazine from his office in Washington, D.C.
Written By: Dick Carozza, CFE
Protecting Our Wise Elders from Fraud: Interview with Marie F. Smith, President of AARP
As well-off Baby Boomers age, the pool of elders vulnerable to fraud is growing. Marie F. Smith, president of AARP, encourages fraud examiners to "keep up the good fight" in protecting the elders in their communities.
Written By: Dick Carozza, CFE
Accounting Students Must Have Armor of Fraud Examination
The Association offers the syllabus, instructor notes, materials, and teaching aids derived from its recent University of Texas graduate fraud examination course free of charge to institutions of higher learning.
Written By: Dick Carozza, CFE
Lauded as Anti-fraud Trailblazer
ACFE Chairman and Founder Joseph T. Wells, CFE, CPA, received a Doctorate Honoris Causa from York College of The City University of New York.
Written By: Dick Carozza, CFE
Balancing Act: An Interview with Irving H. Picard, Madoff Trustee
Interview with Irving Picard, court-appointed trustee for Bernard L. Madoff Investment Securities.
Written By: Dick Carozza, CFE
Fighting Fraud with Research
The Institute for Fraud Prevention (IFP) is supporting research to find the root causes of fraud and offering tools for deterrence and prevention to businesses and government.
Written By: Dick Carozza, CFE
‘United in the Fight’
Article on the 21st Annual ACFE Fraud Conference and Exhibition.
Written By: Dick Carozza, CFE
Sentinel Wins Vindication
Interview with ACFE Sentinel Award winner Amy Stroupe, CFE.
Written By: Dick Carozza, CFE
Fraud Down Under
Interview with Russell Smith, Ph.D., principal criminologist and manager of the Global, Economic and Electronic Crime Program at the Australian Institute of Criminology.
Written By: Dick Carozza, CFE
Tackling Mortgage Fraud Locally
Profile of Isabel Mercedes Cumming, J.D., CFE, chief of Prince George’s County’s Economic Crimes Unit.
Written By: Dick Carozza, CFE
SEC Watchdog Monitors Agency’s Progress after Madoff Case
The Securities and Exchange Commission failed to uncover Bernard Madoff’s $65 billion Ponzi scheme because of some major agency deficiencies. That was the conclusion of H. David Kotz, SEC’s inspector general, after a thorough investigation. Kotz, who has made 69 recommendations to the SEC for improvement, says he has “a burning desire to expose the truth.”
Written By: Dick Carozza, CFE
Didn't comply?
The new U.S. assistant attorney general for the DOJ’s Criminal Division, of course, encourages companies that conduct business in the U.S. to prevent and deter fraud and comply with all regulations. But if they discover possible crimes within their walls, then total cooperation will greatly ease their treatment.
Written By: Dick Carozza, CFE
Vindication at a high price
When James Holzrichter reported some management issues to his supervisor, he had no idea that he would later discover widespread alleged fraud at Northrop. He'd lose his job, health and 17 years of his life. But he'd retain his integrity and his family's love.
Written By: Dick Carozza, CFE
ACFE Board of Regents interview
The members of the Board of Regents aren’t novices. With 137 years of accumulated experience, they’ve climbed most of the limbs and branches of the Fraud Tree. Yet they’re still excited about solving puzzling cases: discovering evidence, interviewing subjects, presenting results and testifying.
Written By: Dick Carozza, CFE
26th Annual ACFE Global Fraud Conference
The largest anti-fraud conference in the world provides professionals with practical tools plus some serendipitous networking.
Written By: Dick Carozza, CFE
Hacking the hackers
Investigative journalist Brian Krebs, the author of the blog, KrebsOnSecurity.com, has exposed — at personal risk — data breaches at Target, Home Depot, P.F. Chang’s and many others. His reporting has abbreviated cybercrime schemes that have saved thousands for consumers and helped rescue identities. And he’s just getting started.
Written By: Dick Carozza, CFE
Whistleblowers we're thankful for
As we approach Thanksgiving, I give thanks to whistleblowers. I risk drifting into cliché-speak here, but their actions personify courage. When fraud confronts them, they decide not to look the other way but instead risk their jobs, families and health “For Choosing Truth Over Self” — the motto inscribed on the ACFE’s Cliff Robertson Sentinel Award.
Written By: Dick Carozza, CFE
From processes to anti-fraud victories
Tom Shaw, CFE, CAMS, a seasoned pro, knows that fraud examiners only see victories when they’ve diligently planned for every possible fraud quirk. Here’s help for incorporating metrics-driven processes into your anti-fraud efforts.
Written By: Dick Carozza, CFE
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.
Written By: Dick Carozza, CFE
An interview with Robert Wardle, Director of the U.K.'s Serious Fraud Office
Robert Wardle, director of the UK's Serious Fraud Office, tackles not only the toughest cases but lengthy trials and mounds of evidence. A veteran of the SFO, he juggles it with aplomb.
Written By: Dick Carozza, CFE
Battling elusive identity theft: Interview with Betsy Broder, assistant director, U.S. Federal Trade Commission
They want to steal your name, your credit card numbers, your reputation, your money, and your life. Betsy Broder and her FTC team have one mission: to keep you from being another identity theft statistic.
Written By: Dick Carozza, CFE
Rapid reformer: An interview with Eliot Spitzer, New York state attorney general
Eliot Spitzer targets fraud on Wall Street, in the mutual-fund business, and in the insurance industry. He says he wants the marketplace to work more efficiently, honestly, and fairly. Spitzer's methods offer lessons for fraud examiners.
Written By: Dick Carozza, CFE
An interview with Irwin Cotler, minister of justice and attorney general of Canada
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.
Written By: Dick Carozza, CFE
FDA Incapable of Protecting U.S., Scientist Alleges
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.
Written By: Dick Carozza, CFE
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.
Written By: Dick Carozza, CFE
Telling the Truth and Living in Limbo
Marta Andreasen, the European Commission's chief accounting officer, awaits her professional fate after declaring the EC's budget was "massively open to fraud" and endures suspension because of her honesty.
Written By: Dick Carozza, CFE
Giving SOX and Fraud Examiners Genuine Clout: An interview with PCAOB chief auditor Douglas R. Carmichael
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. This CFE is ready for the challenge.
Written By: Dick Carozza, CFE
Truth, Transparency, and Accountability with No Political Agenda
David Walker is an anomaly: a top U.S. federal official beholden to no political party. And he likes it that way. As comptroller general of the United States and head of the General Accounting Office (GAO), Walker is charged with improving the performance and the accountability of the federal government for the benefit of the American people. Fraud, waste, abuse, and poor management are his enemies and his allies are truth, transparency, and accountability.
Written By: Dick Carozza, CFE
The Decisions of a Fraud Fighter
Dr. Joseph T. Wells, CFE, CPA, the author of a colorful new autobiography, writes about his fables, follies and foibles in the wild ride of a life that has culminated in the establishment of a new profession and solid anti-fraud practices.
Written By: Dick Carozza, CFE
Returning to Where it All Began
The ACFE revisits San Diego, where it held its first annual conference, to offer anti-fraud education on a grander scale.
Written By: Dick Carozza, CFE
Courage is Part of the Fraud Examiner's Job Description
Interview with 2011 Cressey Award recipient and securities regulation expert Prof. John C. Coffee.
Written By: Dick Carozza, CFE
Madoff's legacy: What have we learned from the debacle?
Bernie Madoff is gone, but the effects of his crimes live on. Fraud examiners endeavor to learn from all frauds, including the world’s largest-ever Ponzi scheme. What lessons have we learned? How has the regulatory environment improved? How have Madoff’s schemes affected the anti-fraud profession?
Written By: Dick Carozza, CFE
Wirecard's house tumbles
Dan McCrum, an investigative reporter for the Financial Times, spent six years questioning the finances of Wirecard, Germany’s moneymaking payments processor. Fraudulent Wirecard would strike back against McCrum and his wife with smear campaigns, lawsuits and surveillance. German banks and regulators targeted him. But his efforts paid off. Read about his crazy, weird investigation.
Written By: Dick Carozza, CFE
Dichotomy of dishonesty
All of us want to look in the mirror and feel good about ourselves. But secretly we also want to benefit some from our dishonesty. Acclaimed behavioral economist Dan Ariely ponders this dichotomy every day. His research findings could help fraud examiners deter would-be fraudsters.
Written By: Dick Carozza, CFE
Chrysti Ziegler, CFE
Chrysti Ziegler, CFE, the president of the ACFE Houston Area Chapter, was thrilled to discover the art of fraud fighting early in her career as an auditor. Her interest was piqued when she first learned about the idea of malicious intent. She was hooked. Her passion then grew for joining the force against fraud.
Written By: Dick Carozza, CFE
The Aggressive Enforcer
An Interview with Lanny Breuer, Assistant Attorney General for the U.S. Department of Justice Criminal Division.
Written By: Dick Carozza, CFE
Ponzi schemer flees on water scooter, shysters rent parking spots and more
Ponzi schemer flees on water scooter, shysters rent parking spots and more
Written By: Dick Carozza, CFE
Remote but engaged
How do fraud examiners conduct fraud examinations when they often can’t meet their team members and subjects in person? These experts — during pandemic constraints — discuss their biggest investigation hurdles, maintaining professional skepticism, best practices, eDiscovery challenges, chain of custody, interviewing constraints and more.
Written By: Dick Carozza, CFE
Alan E. Small, CFE
Alan Small, CFE, first became acquainted with fraud investigations in 1973 as a member of the Baltimore (Maryland) Police Department. His first assignment was with the criminal investigation division where he reviewed and followed the assignments of experienced detectives engaged in the investigation of high-profile cases, which included fraud.
Written By: Dick Carozza, CFE
Just getting started at 25
When the ACFE began more than a quarter century ago, fraud was the word that “should not be spoken.” But speak it this group did.
Written By: Dick Carozza, CFE
Chipping away at corruption
A look at Transparency International, a nonprofit founded by Dr. Peter Eigen, and how it is helping move anti-corruption efforts to the top of governmental and corporate agendas.
Written By: Dick Carozza, CFE
What can CFEs learn from private investigators?
There’s a good possibility you’re a Certified Fraud Examiner. But you’re probably not a licensed private investigator. Are you missing out? Not necessarily, but some CFEs believe their hard-won PI skills burnish their fraud examiner careers and make them better professionals.
Written By: Dick Carozza, CFE
Tempered ambition: An interview with Louis Freeh
An interview with former FBI director Louis Freeh.
Written By: Dick Carozza, CFE
All hoax and no cattle
Cody Easterday was a Washington state rancher and farmer with a sterling reputation. Then Tyson Foods discovered that for at least four years he sent fake invoices to that company, and another, for $244 million for the care and feeding of 265,000 head of cattle that didn’t exist. He pleaded guilty to wire fraud and is serving an 11-year sentence in federal prison. Here’s an analysis of the fraud from a prosecutor, investigators and fraud examiners.
Written By: Dick Carozza, CFE
Fighting a culture of fraud
Dinesh Thakur was utterly flabbergasted when he discovered that his employer, Ranbaxy Laboratories, was falsifying data to receive approval of its generic drugs.
Written By: Dick Carozza, CFE
Sarbanes-Oxley Act Revisited: An Interview with Sen. Paul S. Sarbanes
In this interview, Senator Paul S. Sarbanes discusses the U.S. Sarbanes-Oxley Act and its impact on the deterence of fraud and the importance of Certified Fraud Examiners in the battle against white-collar crime.
Written By: Dick Carozza, CFE
An Interview with Prof. Shinji Hatta: Japan Works To Deter Fraud With 'J-SOX'
Since the turn of the century, Japan has seen a spate of public company debacles similar to Enron and WorldCom. The government directed Professor Shinji Hatta and his ad-hoc committee of economic experts to devise an internal controls framework that would radically change the country's discrete enforcement system and emphasize fraud deterrence, raise reporting standards, and repair credibility.
Written By: Dick Carozza, CFE
Constant Warning: An Interview with Sherron Watkins
Though the main Enron characters have received their prison sentences, there's no closure for corporate fraud. Sherron Watkins, Enron's sentinel, describes the debacle's details and warns that it could happen again.
Written By: Dick Carozza, CFE
An Interview with Ros Wright: UK's Resolute Fraud-Fighting Advisor
Ros Wright, chairman of the UK Fraud Advisory Panel, discusses a variety of fraud-related issues including the work of the Fraud Advisory Panel, current fraud initiatives in the UK, the challenges that fraud imposes on the global economy, and the similarities between fraud schemes in the U.S. and U.K.
Written By: Dick Carozza, CFE
An Interview with Perry A. Minnis, Alcoa's Director of Ethics and Compliance
Perry Minnis describes how Alcoa manages ethics and compliance among 123,000 employees in 43 countries so that infractions don't grow into irregularities that could morph into threatening frauds.
Written By: Dick Carozza, CFE
Sentinel at the EPA: An Interview with William Sanjour
This interview with William Sanjour, ACFE’s 2007 Sentinel Award recipient, provides an account of how he spent more than three decades confronting deception and inequities in the Environmental Protection Agency.
Written By: Dick Carozza, CFE
Tackling tariff fraud
Learn more about common tariff fraud schemes, what importers lie about, and how customs agencies discover and deter crimes. CFEs with expertise in customs fraud provide notable case studies.
Written By: Dick Carozza, CFE
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