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Consumer studies can estimate missing cash
Consumer cash-use studies like the U.S. Federal Reserve’s Consumer Payment Choice study can be an effective means of estimating missing funds in cash skimming cases. The authors explain how they’ve used these studies in fraud cases and how fraud examiners may deploy these studies.
Written By: Amy Cooper, Ph.D., CFE, CPA, Robert Logan, Ph.D., Ken Abramowicz, Ph.D.
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- Accounting and Auditing
- Data Analytics
- Financial Transactions and Fraud Schemes
18 arrested for global credit card scheme and more
Eurojust coordinates a takedown of an international credit card scheme, researchers develop a tool for detecting food fraud, Meta profits from scam ads, and ex-founder and CEO of Beneficient is indicted for a scheme that triggered a bankruptcy.
Written By: Jennifer Liebman, CFE
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- Consumer Fraud and Scams
- Cyberfraud
- Financial Transactions and Fraud Schemes
The high risk of fraud in the cannabis industry
As jurisdictions across the globe legalize cannabis and entrepreneurs look to grow their fortunes, fraudsters lie in wait ready to exploit this burgeoning multibillion-dollar industry. The author, an accountant with expertise in legal cannabis businesses, details the types of schemes affecting the industry and what fraud examiners should know about preventing fraud in this growing field.
Written By: Angela Mays, CFE
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- Accounting and Auditing
- Financial Transactions and Fraud Schemes
- Fraud Prevention and Deterrence
SEC, FBI, DOJ join forces to bust crypto fraudsters and more
The U.S. Securities and Exchange Commission (SEC), FBI and U.S. Department of Justice coordinated a large-scale takedown of fraudulent cryptocurrency firms involved in market manipulation.
Written By: Crystal Zuzek
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- Cryptocurrency and Digital Assets
- Fraud Schemes
- Money Laundering
Outsmarting fraud in the hospitality industry
With more people traveling and spending money on leisure following the COVID-19 pandemic, fraudsters are once again turning their attention to the hospitality industry. Here we look at the variety of fraud taking place in this sector and how best to prevent it.
Written By: Rasha Kassem, Ph.D., CFE
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- Criminology and Psychology
- Fraud Prevention and Deterrence
- Fraud Schemes
Food fraud and more
Fraudsters are using dilutions, substitution, counterfeits and mislabeling to infiltrate the global food market; a software engineer in Washington steals from his employer in a scheme inspired by the comedy movie "Office Space"; executives in South Korea are convicted in a $1.5 billion V Global scam.
Written By: Anna Brahce
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- Consumer Fraud and Scams
One step forward, two steps back
Fraud examiners are always working to persuade management to search for internal fraud and adopt wise prevention controls. However, anti-fraud professionals can only give their best counsel and then work hard for a good outcome. Here are a fraud examiner’s early successes in a case and later frustrating management decisions. Regardless, he’s not daunted.
Written By: Jason Shepard, CFE, ARM
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- Accounting and Auditing
- Asset Misappropriation
- Career and Professional Development
Canadian casino money laundering exposes greater fraud problems
A report on money laundering in Canadian casinos by drug-trafficking gangs exposes more than just gamblers showing up with bundles of $20 bills. Here’s a lesson for fraud examiners whose blinders might force them to focus on just one type of fraud.
Written By: Mason Wilder, CFE
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- Bribery and Corruption
- Government Fraud
- Money Laundering
Easy Come, Easy Go: Examining Fraud on the Loading Dock
A poorly run loading dock is a death sentence for an otherwise vibrant business; the one thing common to all docks is their vulnerability to fraudulent activity.
Written By: Frank Luizzo, CFE, Joel Moskowitz, CFE
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- Fraud Schemes
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