Fraud can be devastating to organizations of all sizes — especially as financial transactions and fraud schemes become more complex and sophisticated with technological advancements. Recognizing the wide variety of internal and external fraud threats is essential to detecting and deterring fraud.
In this episode of Fraud Talk, the ACFE's Chief Training Officer John Gill sat down with Charles Antonucci, the former president of The Park Avenue Bank, who was convicted in 2015 of trying to defraud the Troubled Asset Relief Program (TARP). Antonucci also pleaded guilty to other charges including self-dealing, bribery, embezzlement of bank funds, and a multi-million fraud scheme involving an insurance company. The ACFE does not compensate convicted fraudsters.
In the ever-evolving landscape of the digital world, influencer marketing has taken center stage as a powerful tool for brands and businesses to reach their target audience. However, with great power comes great responsibility, and as the industry continues to grow, so does the potential for fraud. Let's delve into the world of influencer fraud and explore its many faces, consequences and potential solutions.
As the modern fascination with true crime escalates, perhaps no documentarian today presents the stories of our past with more profundity than Joe Berlinger. The director’s next endeavor figures to hit home for not just millions of Americans but anti-fraud professionals around the world, too.
Despite all of the advancements in security measures in our modern era and through the long history of check fraud, the creativity and sophistication of fraudsters continue to pose significant challenges.
According to the Antwerp World Diamond Center (AWDC), about 1,700 companies and 4,500 traders concentrated in an area of about one square kilometer trade 84% of all rough diamonds worldwide.
As experienced fraud examiners know, fraud comes in many varieties, including tales that are truly frightening. These fraudsters were willing to play any type of trick to take their ill-begotten treats. Read on to learn more about this year’s tales of terrifying fraud, but don’t say we didn’t warn you.
After seven days of deliberations, a jury in California found Theranos founder Elizabeth Holmes guilty on four out of 11 federal fraud charges on January 3, 2022.
While support groups play a critical role, there are additional resources and strategies that can further aid in the recovery process for fraud victims.
By examining some of the most notorious historical frauds and integrating insights from the ACFE’s Occupational Fraud 2024: A Report to the Nations, businesses can better protect themselves from similar pitfalls today.
From massive corporate fraud in China to sophisticated cryptocurrency thefts and international scam networks, these cases underline the persistent challenges in combating financial crime.
There are consistent factors in fraud, like social engineering tactics that exploit human behavioral tendencies or external financial pressures that lead fraudsters to commit their crimes, but there are also trends and themes that emerge and affect the anti-fraud profession on a more limited timeframe.
The SNPR proposal seeks to “add a prohibition on the impersonation of individuals and extend liability for violations of the Rule to parties who provide goods and services with knowledge or reason to know that those goods or services will be used in impersonations of the kind that are themselves unlawful under the Rule.”
In the most recent episode of the ACFE’s podcast, Fraud Talk, Julia Johnson, CFE, Research Specialist at the ACFE, breaks down three recent case studies of frauds that were committed from behind bars. She explains how the schemes were perpetrated and what fraud examiners can learn from each case.
Joseph Cox, an investigative reporter at VICE, enlisted the help of a friendly hacker to report on a service called Sakari, a company that streamlines mass SMS messaging for businesses. The hacker was able to use the service to reroute all of Cox’s text messages to the hacker’s device, and Cox didn’t receive a single notification about the theft of his number. He just stopped receiving text messages.
How did the most trusted financial system in the world become the breeding ground for the massive corruption uncovered in the Enron and WorldCom scandals? In this book...
In this book, you will learn the gripping story of Elizabeth Holmes and Theranos — one of the biggest corporate frauds in history — a tale of ambition and hubris set amid the bold promises of Silicon Valley, rigorously reported by the author and prize-winning journalist John Carreyrou.
This is a story about an accidental activist. Bill Browder started out his adult life as the Wall Street maverick whose instincts led him to Russia just after the breakup…
"Fraud In the Markets" reveals the critical role fraud played in the global financial crisis-even as many of the perpetrators continue to go unpunished. Shedding light...
A hidden circulatory system flows beneath the surface of global finance, carrying trillions of dollars from drug trafficking, tax evasion, bribery and other illegal…
In United States v. Quintero-Lopez, 15 defendants were indicted on 70 counts in the Southern District of Florida for a mortgage fraud scheme involving 16 fraudulent loans...
This book details the relationship between the rise of the Indian-American elite and the collapse of the Galleon Group, a hedge fund that managed more than $7 billion in...
The recent crackdown on bribery and prosecution of cases under the Foreign Corruption Practices Act (FCPA) has made the prevention and mitigation of bribery...
Fraud Casebook: Lessons from the Bad Side of Business is the most comprehensive book ever compiled on fraud case studies, presenting the collected insights of some of...
In 1995 Computer Fraud took down England's oldest bank. In 1996, Omega Engineering Company lost over $10 million to one disgruntled employee's computer fraud. In...
While the Internet offers a global marketplace for consumers and businesses, it also presents endless potential for crooks and scammers. The same scams found through the...
Like Victor Frankenstein, who gave life to the Creature in Mary Shelley's Frankenstein, the ten criminals profiled in this book produced heinous creations that came back...
Today’s fraudsters have found new and innovative ways to embed themselves into legitimate businesses. Deep and dark web forums have allowed...
Enron's fraud schemes led to their bankruptcy and the downfall of Arthur Anderson. This was a conspiracy of peers conspiring together to facilitate the fraud and corruption in their respective firms...
As digital ecosystems expand, technological advancements are opening new doors for fraud, giving fraudsters easier access to more tools and data than ever before...
In today's world, traditional” street crimes” are giving way to check fraud, identity theft and internet crimes. The youth and emerging technology play a pivotal role in the business of fraud and financial crime...
Elder financial exploitation is an escalating crisis, with victims losing more than $28 billion annually, as reported by AARP. This highlights the urgent need...
Fraud risk management and awareness often live in distinct groups within an organization. This could be because fraud risk is perceived to be very specific...
Today’s fraudsters have found new and innovative ways to embed themselves into legitimate businesses. Deep and dark web forums have allowed...
In this course, Karen Webber, CFE, CPA, will discuss elder financial exploitation, a fast-growing and underreported crime against older adults. You will learn about the...
Elder fraud abuse is at an all-time high and growing. Currently, there are 54 million elders in the United States alone, and that number is expected to increase to...
28 years into her 40-year career with multi-national lumber company Weyerhaeuser, Susan Tranberg stole her colleagues’ computer credential...
As the number of COVID-19 cases rose in 2020, countless businesses had to shut their doors or reduce operations to minimize the spread of the virus. Owners of many of the...
Fictitious or ghost employee schemes can cause significant losses that might go undetected for months or years. These losses not only include financial losses, but also losses...
Theft, fraud and money laundering of cryptocurrency assets threaten the integrity of blockchain technology as billions of dollars are estimated to be lost each year...
This course examines the bankruptcy system and its actors (trustees, lawyers, accountants), discusses the different types of bankruptcy fraud, and provides you with...
In this course, you will explore the familial identity theft case of the Betz family, in which three generations of family members had their identities stolen by a family...
Understanding the components necessary for successfully prosecuting a fraud case is crucial in both state and federal courts. This session explores the complexities...
Learn to take a stand against mortgage fraud by exploring the history of the mortgage industry and its role in the global financial crisis.
Bribery, corruption and money laundering are often regarded as acceptable costs of doing business, particularly in international exchanges. This course illustrates…
Learn about common asset misappropriation schemes, the red flags of each scheme and the steps for preventing and detecting them.
Examine the fundamental fraud schemes threatening financial institutions and learn how to detect and prevent them.
Explore a historical perspective of financial markets and securities regulations and how they are relevant to investigating today's securities fraud schemes.
Learn how to identify common computer-related schemes, the methods used to carry them out and more.
Learn what constitutes insider trading and the ways that inside traders rationalize their criminal behavior from a feature-length documentary film.
Learn about the Fédération Internationale de Football Association (FIFA) scandal, including its initial detection, key events and impact.
Trade-based money laundering is one of the most complex and difficult to detect forms of money laundering...
Learn about common health care fraud schemes related to durable medical equipment (DME), such as wheelchairs, scooter and hospital beds.
Learn about common practices used by health care providers that cause unnecessary costs to health care programs or patients.
Learn about common health care fraud schemes committed by patients including fictitious claims, medical identity theft, doctor shopping and more.
Given that trillions of dollars’ worth of assets move through financial institutions on a daily basis, it is not surprising that these organizations are targets of fraud. The risk of fraud against financial...
Learn why governments are vulnerable to fraud and discover strategies to prevent, detect and investigate government fraud schemes.
Learn from 10 infamous fraud cases to better protect your clients, employers and the general public from similar schemes.
Learn about the types of identity fraud and receive guidance to help prevent you, your business or your community from becoming victims of identity theft.
Learn how to identify, combat and investigate conflicts of interest that arise in businesses and government agencies.
Learn about some of the most common types of schemes that occur at the local level and the measures that can be taken to prevent them.
Learn about the aspects of the contract and procurement process important to anti-fraud professionals.
Learn how and why social engineering scams work by examining the psychological aspects, methodologies and more.
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Cryptocurrency has rapidly become a major force in the financial world, but with its rise, we’ve also seen an increase in related fraud schemes...
Learn from a brief overview of the mortgage industry, its impact on the economy, individuals involved in the mortgage loan process and more.
Learn about 10 of the most common health care fraud schemes and receive tips for preventing and detecting them.
Learn about 10 common external threats to organizations, helping you to better protect your organization from becoming a victim.
Learn how higher education institutions in the United States operate, how those specific operations can be manipulated by people to defraud those institutions and more.
Learn about common consumer fraud schemes and discover resources and remedies to detect, deter, report and prevent these schemes.
Learn about the claims process, how to identify potential red flags of various schemes and how technology can be implemented to better prevent and detect insurance fraud.
Learn about schemes committed against the nonprofit by employees or insiders, those committed by external parties and fraud that can be attributed to the nonprofit itself.
It is no secret that fraud is widespread in the construction industry, likely due to several factors such as the amount of money required...
Learn about bribery and corruption through 10 lessons covering topics from illegal gratuities and economic extortion to conflicts of interest and red flags of corruption.
Health care is one of the largest and arguably the most complex of all industries in the U.S. The system consists of numerous types of organizations...
Learn about asset misappropriation through 13 lessons covering topics from skimming and cash larceny to billing schemes and the misappropriation of intangible assets.
Explore fraud schemes against financial institutions and discover recommended controls and techniques designed to prevent and detect them.
Discover information relating to government fraud generally as well as information specific to the U.S. federal government.
Learn about common schemes used to manipulate an organization's financial statements, how they are perpetrated and techniques to uncover financial statement manipulation.
Learn how to recognize and address complex financial transactions and fraud schemes to enhance detection and deterrence efforts.