Fraud Resources

Podcast

The Stories Behind the Numbers

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How to Enforce Third-Party Audits and Ensure Compliance

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Whistleblowers Wanted: Inside the DOJ’s Corporate Crime Crackdown

In this episode of Fraud Talk, ACFE Research Specialist Sam May interviews Patrick Gushue, Acting Director of the Department of Justice's Corporate Whistleblower Awards pilot program. Together, they delve into the program's mission to uncover corporate crime by empowering whistleblowers and fostering a culture of accountability. Patrick provides an in-depth look at the program's focus on internal reporting, compliance frameworks and innovative incentives designed to encourage reporting of misconduct.

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How Fraud Week Transformed Community Engagement for the Washington State Auditor’s Office

Join ACFE Public Information Specialist Stefanie Hallgren in this episode of Fraud Talk, as she dives in with Brandi Pritchard, Assistant Director of Special Investigations at the Washington State Auditor's Office. With International Fraud Awareness Week on the horizon, Pritchard shares the story behind the Auditor’s Office’s dedication to fraud prevention and the unique challenges they face, especially within smaller government entities. From engaging tactics that bring fraud awareness to the community to the “trust but verify” approach that underscores their work, Pritchard reveals how Fraud Week creates a ripple effect inspiring both vigilance and accountability.

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Adapting Fraud Detection for Latin America

In this episode of Fraud Talk, Mason Wilder sits down with Marta Cadavid, founder of NoFraudLatin, to explore the unique challenges of detecting and preventing fraud in Latin America. Cadavid shares her journey, including the creation of a Latin American-specific fraud tree, and how cultural nuances shape the approach to fraud communication. They discuss the vital role of artificial intelligence in analyzing human behavior and predicting fraudulent actions.

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The Future of Identity Fraud Prevention

Mary Ann Miller, a seasoned cybersecurity and fraud expert, joins Rihonna Scoggins, ACFE Content Manager, on Fraud Talk to dissect the evolving threat landscape of identity fraud and the cutting-edge strategies organizations can deploy to combat it. Miller emphasizes the need to move beyond traditional identity validation methods, focusing instead on diverse attributes and signals to confirm authenticity. They explore the future of passwordless security, highlighting its potential to enhance both security and user experience.

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Lessons from a Reformed Hacker

Eddie Miro, author of 'Outlaw Summer, Cyber Dreams: The Hacker's Journey Through Crime and Redemption,' joins John Gill, President of the ACFE, on Fraud Talk to share his story of transformation from hacker to educator. Eddie opens up about his troubled family background and his descent into criminal activities. They delve into the critical topics of physical security, social engineering and the importance of user awareness training for small to medium-sized companies.

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Fraud Prevention and Program Integrity in the Public Sector

Amanda Holden, a partner with Deloitte's Financial Crimes, joins Samuel May, ACFE research specialist, on Fraud Talk to uncover the intricacies of fraud prevention and program integrity in the Canadian public sector. They navigate the crucial role of proactive prevention and detection, addressing the unique challenges faced by public entities in a rapidly evolving fraud landscape. Holden explores the essential COSO framework, emphasizing the balance between expediency and robust fraud controls. Dive into Holdens’s expert insights on breaking down cultural barriers, enhancing information sharing and leveraging cutting-edge data analytics and technology.

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Secrets of OSINT Revealed

Javier Leiva, a writer, investigative journalist, producer and podcaster, joins Jason Zirkle, ACFE Training Director, on Fraud Talk to discuss the use of OSINT in investigations. They delve into the challenges, ethical considerations and future of OSINT investigations. Listen in as Leiva shares insights and tips for leveraging OSINT effectively and responsibly, and delves into the myth of Frank Abagnale.

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The U.K. Post Office Scandal: Lessons in Accountability and System Reform

 In this episode of Fraud Talk, Tony McClements, Head of Investigations at Martin Kenny & Co., delves into the infamous U.K. Post Office scandal with ACFE Content Manager, Rihonna Scoggins. As McClements unravels the layers of this miscarriage of justice, he discusses the critical failures of the Horizon IT system and the damaging effects of withheld disclosures during legal proceedings.

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An Inside Look into Occupational Fraud 2024: A Report to the Nations

In this episode of Fraud Talk, Andi McNeal, ACFE Chief Training Officer, and ACFE Research Director, Mason Wilder, delve into the critical insights of Occupational Fraud 2024: A Report to the Nations, discussing its evolution, consistent themes and groundbreaking findings. They explore the significance of tips and internal controls in detecting fraud, the increased median losses attributed to the COVID-19 pandemic and the shift towards web-based reporting mechanisms. Concluding with actionable advice, the episode underscores the value of the report in enhancing anti-fraud programs and heightening fraud awareness within organizations.

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Fraud Examiners: The Bearers of Bad News

In this episode of Fraud Talk, ACFE Content Manager Rihonna Scoggins, sits down with Amii Barnard-Bahn, an acclaimed coach for legal and compliance executives, to dissect the nuances of navigating difficult conversations as anti-fraud professionals. Barnard-Bahn outlines a six-step strategy to not only prepare the messenger but also to prime the audience, ensuring a blend of empathy and clarity. From psychological readiness to the rehearsal of delivery and understanding the influence of gender dynamics, this episode is packed with insights.

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Harnessing AI for Compliance and Risk Management

In this episode of Fraud Talk, ACFE Content Manager Rihonna Scoggins meets with Christian Focacci, CEO and Founder of Threat Digital, to discuss the future of risk management and compliance software. The discussion delves into the groundbreaking advancements in large language models, their role in processing unstructured text and the critical importance of explainability in AI-driven solutions. Focacci also addresses the issue of AI washing and offers practical advice for companies and fraud examiners on integrating AI to optimize processes.

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Inside the ACFE's Top 5 Most Scandalous Frauds of the Year

In this special edition of Fraud Talk, we focus on the ACFE's annual round-up featured in Fraud Magazine, a highlight anticipated by many in the industry. This year, we offer you an exclusive behind-the-scenes glimpse into the process of selecting the top five most scandalous frauds of 2023. Join John Warren, CEO of the ACFE, and Jennifer Liebman, Assistant Editor of Fraud Magazine, as they meticulously unravel each case, providing an in-depth analysis and insight into the complexities and implications of these notable frauds.

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Combating Increasing Fraud During the COVID-19 Pandemic

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No One Wants to Eat Lunch With the Investigator

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Decoding the Future: Strategic Foresight for Fraud Examiners

In this episode of Fraud Talk, ACFE Communications Director John Duffley sits down with Heather Vescent, a futurist, researcher and CEO of The Purple Tornado, to explore how strategic foresight can empower anti-fraud professionals to anticipate emerging threats and adapt to rapid technological change. The conversation covers the evolving role of AI in fraud detection, the importance of human intuition alongside automation, and the promise and challenges of new technologies such as decentralized identity. Vescent shares practical insights on blending technology and human expertise to build resilient, future-ready anti-fraud programs.

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The Bored Room: How Apathy Is Undermining Your Ethics Training

In this episode of Fraud Talk, we explore an often-overlooked risk factor inside organizations: boredom. Guest Garth Sheriff, CFE, CPA, educator and former actor, joins ACFE Content Manager Rihonna Scoggins to examine how disengagement in ethics training and workplace culture can quietly open the door to fraud. Sheriff draws on his unique background in accounting, acting and continuing education to show why storytelling and lived experience matter more than checklists when it comes to ethics.

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Stolen Lives on the Dark Web

In this episode of Fraud Talk, ACFE Content Manager Rihonna Scoggins speaks with David Maimon, a leading cyber crime and dark web researcher, to explore how the fraud landscape is being shaped by technology and organized criminal networks. Maimon shares how his work monitoring dark web activity uncovers trends like the use of AI in fraud, the rise of synthetic identities and the exploitation of death row inmates' information. He breaks down the fraud ecosystem, explains how public data can fuel identity theft and highlights red flags that can help fraud teams spot synthetic profiles.

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How Fraudsters Target Lean Teams and Fast-Moving Companies

In this episode of Fraud Talk, ACFE Content Manager Rihonna Scoggins speaks with Shai Gabay, CEO and co-founder of TrustMi, to explore how fraudsters are capitalizing on overworked teams, rushed vendor payments and internal blind spots to execute sophisticated B2B payment scams. From AI-assisted impersonation to social engineering tactics that prey on urgency, Gabay breaks down the fraud risks hiding in plain sight and what organizations can do to stay ahead without slowing down.

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The Recruiter Isn't Real: Job Seekers, Scammers and the Hidden Brand Risk

In this episode of Fraud Talk, ACFE Communications Director John Duffley speaks with Jim McConnell, CFE, about the growing threat of applicant fraud and hiring scams. With job seekers under increasing pressure, scammers exploit emotions and new technologies to steal personal information, impersonate companies and damage employer brands. McConnell breaks down the red flags of fraudulent recruiters, the rise of comment poisoning on platforms like LinkedIn, and how CFEs and HR teams can work together to spot and stop this emerging threat.

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Under Pressure: Why Younger Generations are Falling for and Committing Fraud

In this episode of Fraud Talk, ACFE Content Manager Rihonna Scoggins interviews Fraud Magazine Assistant Editor Crystal Zuzek, co-author of "Under Pressure". They explore the rising fraud risks facing Gen Z and millennials, both as victims and as perpetrators. From emotionally manipulative scams like sextortion to friendly fraud and the glamorization of con artists, Zuzek shares insight and real stories that reveal how digital lifestyles and economic pressures are shaping the next generation.

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The Hidden Costs of Speaking Up: What Fraud Examiners Need to Know About Whistleblowers

Whistleblowers are often key to uncovering fraud—but what happens after they report? In this episode of Fraud Talk, Jacqueline Garrick, founder of Whistleblowers of America and the Workplace Promise Institute, shares her journey from whistleblower to advocate. From moral injury to PTSD, Garrick shares how peer support and trauma-informed workplaces can protect whistleblowers and strengthen fraud prevention efforts.

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Fraud Prevention in Action: How Students Are Gaining Real-World Experience

In this episode of Fraud Talk, ACFE Content Manager Rihonna Scoggins speaks with Victor Cardona, adjunct professor of forensic accounting at California State Polytechnic University, Pomona, to discuss their “Day in the Life of an IRS Agent” program. The initiative immerses students in real-world forensic accounting and criminal investigation scenarios, offering a hands-on look at careers in fraud prevention and compliance. Cardona shares how interactive education, mentorship and networking are key to inspiring the next generation of anti-fraud professionals—and why promoting ethical standards early on is essential in shaping the future workforce.

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Inside the In-House Fraud Investigation Teams Benchmarking Report

In this episode of Fraud Talk, ACFE Communications Director John Duffley sits down with Mason Wilder, CFE, ACFE Research Director, to break down the newly released In-House Fraud Investigation Teams: 2025 Benchmarking Report. Dive into a detailed discussion on how organizations are structuring their fraud teams—from the increasing number of investigators to the unique challenges they face across different company sizes. Learn about the role of in-house teams, the evolving skill sets required in today’s complex fraud landscape and the critical balance between case volume and team efficiency.

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AI’s Double-Edged Sword in Banking: Fighting Fraud While Avoiding Collateral Damage

Artificial intelligence (AI) is revolutionizing fraud prevention in the banking industry, enhancing detection and risk management. But with these advancements come new challenges—fraudsters using AI to exploit vulnerabilities, biases in algorithms and the need for regulatory adaptation. In this episode, ACFE Content Manager Rihonna Scoggins speaks with fraud expert Kennedy Meda about the impact of AI on banking fraud, the balance between automation and human oversight and how financial institutions can stay ahead of emerging threats.

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The Top 5 Most Scandalous Frauds of 2024

In this episode of Fraud Talk, John Warren, J.D., CFE, CEO of the ACFE, and Jennifer Liebman, CFE, Editor-in-Chief of Fraud Magazine, delve into some of 2024's most scandalous fraud cases. From Boeing's guilty plea tied to deadly aviation crashes to Vietnam's sentencing of a real estate tycoon to death for embezzlement, they explore the global implications of these high-profile frauds. Tune in to understand the evolving nature of fraud, including the role of AI and platforms like TikTok in modern schemes, and uncover critical lessons for prevention and compliance.

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Overseas Contractor Bribed Official to Defraud the U.S. Government

In this episode, ACFE Community Manager Rihonna Scoggins reads a case study submitted by Eduardo “Ed” Cuyos. The case study follows Ed's investigation into fraudulent activities previously missed by the Defense Criminal Investigative Service (DCIS) and the Department of Defense Inspector General (DODIG).

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Podcast

Catching Up With the ACFE: Fraud Week 2022, Board of Regents Voting and More

International Fraud Awareness Week provides space to highlight fraud prevention and detection initiatives at companies around the world. Thousands of groups have pledged as Supporting Organizations over the past 22 years, with more doing their part ahead of Fraud Week 2022, held on November 13-19. Bruce Dorris, President and CEO at the ACFE, sits down with John Duffley, the ACFE’s Communications Manager, to discuss how you can participate in Fraud Week, the annual ACFE Board of Regents voting cycle, and what lies ahead as the ACFE enters its 35th year. 

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Military Veterans’ Experiences and Skills Brought to the Anti-Fraud Table

In Episode 125 of Fraud Talk, ACFE Training Director Jason Zirkle, CFE, is joined by military veterans from around the world to share their backgrounds and how their experiences have aided them in their roles as CFEs and anti-fraud professionals. Collins Wanderi, CFE, Bill Stakes, CFE, and Monica Meeks, CFE, discuss the tools they’ve gained and advice they offer to veterans and active-duty military members looking to earn their CFE credential. 

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Podcast

The Insane, Real-Life Story of Crazy Eddie Antar

Eddie Antar founded the Crazy Eddie electronics retail chain in Brooklyn, New York, which rose to prominence across the New York-New Jersey area throughout the 1970s. Operating undetected for years, Eddie’s business practices were grounded in fraud from the very beginning. In Episode 124 of Fraud Talk, Gary Weiss, author of “Retail Gangster: The Insane, Real-Life Story of Crazy Eddie,” discusses this wide-ranging fraud case and ultimate unraveling with ACFE Chief Training Officer John Gill, J.D., CFE. 

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Justice for Fraud Victims - Remembering Who We’re Fighting For

In the fight against fraud, it can be hard to remember why we do it, especially when the fraudsters never seem to quit. Associate professor of accounting, taxation and business law at SUNY Old Westbury, Dr. David Glodstein, began the Justice for Fraud Victims Project to teach his students — and remind fraud examiners — who we're fighting for: the victims. In this episode, join Dr. Glodstein, CFE, and Kate Pospisil, CFE, the Communications Specialist at the ACFE, as they discuss the Justice for Fraud Victims Project, why programs like this matter and what we can do to further the fight for justice.

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Crossed Wires: Unraveling the Relationship Between Cybersecurity and Fraud

The intersection of cyber security and fraud examination is ever-expanding in our new technological landscape. At the 33rd Annual ACFE Global Fraud Conference, ACFE Research Manager Mason Wilder, CFE, and Deputy Superintendent and Director of the Intelligence Unit at the New York Department of Financial Services (NYDFS), Roderick Chambers sat down to discuss the importance of technical controls and knowledge to protect your organization from fraud. 

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Filling Your Anti-Fraud Toolbox

Washington State’s Largest Ponzi Scheme was the catalyst for Tod McDonald, CPA to start his company and push for innovation in financial e-discovery. Years later, he and Garth Leonard, CFE, from Valid8 Financial, join ACFE Community Manager Rihonna Scoggins to explore the current resources at hand to combat fraud and how fraud examiners can assess what tools are the right fit for them in this evolving landscape.

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The Oxfraud: What a Pseudo-Academic Conspiracy Theory Tells Us About Financial Fraud

William Shakespeare is widely considered to be one of the most prolific and influential writers of all time. But one group of individuals, who call themselves “Oxfordians” and their theory the "Shakespeare Authorship Question," falsely claim that what we know to be Shakespeare's plays and poetry were actually penned by someone else. In this episode, ACFE Chief Training Officer John Gill, J.D., CFE, joins Michael Pocalyko, CFE, the CEO of SI, as they look at how the qualities of those claiming to disprove Shakespeare's authorship parallel the character of financial and investment fraudsters.

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A Look at the Growing Issue of Medical Identity Theft

While victims of traditional identity theft often catch it quickly, victims of medical identity theft may not know they are victims until they need critical medical treatment. In this episode, Scott Ward, CFE, senior vice president at Qlarant, discusses the insidious nature of medical identity theft, the impact it has on its victims and what people and governments can do to help combat it.

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Fraud Now, Pay Later

In this episode, Jim Ducharme, COO of Outseer, a leading technology company in the fight against payment fraud, talks about the rise of "Buy Now, Pay Later" services and how fraudsters are exploiting these new avenues of credit. He also discusses identity assurance and how companies are working to combat payment fraud without adding hurdles for consumers. 

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Following the Bread Crumbs: Tracing Cryptocurrencies in Fraud Investigations

In this episode, Larry Nielsen, a detective who has spent the last several years teaching himself about cryptocurrencies, shares advice for fraud examiners who are interested in expanding their toolkits to accommodate cryptocurrency investigations. He also discusses some of his experiences tracing cryptocurrencies in both a law enforcement capacity and as a consultant.

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Podcast

Where Fraud and Emerging Technology Meet

In this episode, renowned tech journalist and podcast host Takara Small discusses what the future of data breaches, cybercrime and cryptocurrency might look like for both individuals and organizations. She also speaks about the role online media plays in exposing fraud and the importance of supporting women, BIPOC and young people breaking into the tech space.

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Fraud in Your Backyard: Fraud in Homeowners and Condo Owners Associations

Belinda Kitos, CFE, CICA and president of SCF Inc., was elected as treasurer of her homeowners association, but when she opened the books she discovered a $1.2 million fraud in her own backyard. In this month's episode of Fraud Talk, Kitos and Jason Zirkle, training director of the ACFE, explore their own experiences investigating HOA fraud and the red flags of these schemes.

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From Symptoms to Solutions: AI's Remedy for Healthcare Fraud

The National Heath Care Anti-Fraud Association (NHCAA) estimates conservatively that healthcare fraud costs the U.S. approximately $68 billion annually. Why is there so much fraud and abuse with insurance claims and why has this problem gone on so long? In this month's episode of Fraud Talk, Paul Kilby, Editor in Chief of Fraud Magazine, discusses the role of artificial intelligence (AI) in combatting healthcare fraud with Theja Birur, Chief Technology Officer and founder of 4L Data Intelligence.

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The Tale of the Phantom Nonprofit

In this haunting episode of Fraud Talk, investigate the ghostly disappearance of Phases, Inc., a Tennessee nonprofit dedicated to helping women with substance abuse issues. Tune in with Michael Booher, CFE, CPA, from the Tennessee Comptroller of the Treasury and Rihonna Scoggins, ACFE Community Manager, to discover how this ghost story unfolds and the truths lurking in Phases, Inc.'s shadows.

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Podcast

Scam's Calling: Unraveling the Robocall Racket

"We've been trying to reach you about your car's extended warranty" is an all-too-common robocall scam aiming to bilk victims out of their money. Alex Quilici, CEO of YouMail, discusses the intricacies of robocalls, what differentiates beneficial robocalls from scams and the regulations that both aid and obstruct the fight against these schemes with Jennifer Liebman, CFE, assistant editor of Fraud Magazine, in the latest episode of Fraud Talk.

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Podcast

Chopping Down Black Axe

Tom Cronkright, the lead witness in the FBI's indictment of Black Axe, an international cybercrime syndicate based out of Nigeria, speaks with ACFE President John Gill, J.D., CFE, in this month's episode of Fraud Talk. As the co-founder of CertifID and CEO of a title agency, Tom has been at the forefront of helping the real estate industry address payments fraud and discusses his experience as a victim of fraud and the operations of the international fraud group he helped indict.

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Podcast

Deeds and Deceit: Real Estate Fraud Trends

In this month's episode of Fraud Talk, ACFE Chief Training Officer John Gill, CFE, meets with attorney David Fleck, Esq., who represents victims of business, real estate and investment fraud in lawsuits to recover their money, property and dignity. They discuss trends in real estate fraud including investment fraud, title theft and deed fraud, mortgage fraud and wire transfer fraud.

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Podcast

The Missing Pieces of the U.K. Fraud Puzzle

In Episode 133 of Fraud Talk, Editor in Chief of Fraud Magazine Paul Kilby speaks with Kathryn Westmore, the Senior Research Fellow for the Center for Financial Crime and Security Studies at the Royal United Services Institute, a military and defense think tank in the U.K. Kathryn discusses the increase in fraud in the U.K., government initiatives and the balance between data sharing and data privacy.

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Podcast

Jackpot Justice: Unraveling the Lottery Heist

In Episode 132 of Fraud Talk, ACFE Research Specialist Sam May meets with Rob Sand, the Iowa State Auditor. Rob speaks about the Hot Lotto fraud scandal he prosecuted, totaling more than $25 million, as well as helping the state of Iowa improve their systems and processes to better investigate and audit potential frauds.

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The Evolution of IRS Criminal Investigations

In Episode 131 of Fraud Talk, Tyler Hatcher, Special Agent in Charge of the Los Angeles field office of the Internal Revenue Service's Criminal Investigation division, joins ACFE Communications Manager John Duffley. Tyler reflects on the IRS-CI division's growth during his 21 years, the process behind evaluating allegations and pursuing criminal cases, growing uses of cryptocurrencies, common tax fraud schemes, the impacts of the CARES Act and Inflation Reduction Act, and much more.

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Podcast

The Art and Ethics of Social Engineering

In this episode, Jenny Radcliffe, aka "The People Hacker," discusses her expertise as an ethical social engineer, honing those skills at an early age on the streets of Liverpool, and unique challenges she has faced over the years. Joining ACFE Community Manager Rihonna Scoggins during Women's History Month, Jenny explains how being a woman in her field and gender biases she has observed played a significant role in understanding the "human element" behind social engineering. Her new book "People Hacker: Confessions of a Burglar for Hire" is available now in the U.K.

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Law Enforcement vs. Private Practice Investigations

In Episode 129 of Fraud Talk, Tony McClements, the Head of Investigations at Martin Kenney & Co., discusses his career trajectory through three decades in law enforcement to the private practice cases he oversees today. Joining ACFE Communications Manager John Duffley, Tony outlines the challenges between both types of investigations, the benefits to building a team of young, up-and-coming investigators, and emerging technologies and data reports that can be utilized for complex cases.

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Confessions of a Convicted Fraudster

In this episode, 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.

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Why Psychological Safety is Pivotal for Ethical Company Cultures

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Understanding the Art and “Science” of the Theranos Saga

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The Importance of Questioning What Doesn’t Seem Right in Investigations

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A Conversation With the Authors of The Key Man

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The $200,000 Car: When Fraudsters Use Audit Guidelines to Steal

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Operation Trojan Shield: A Global Takedown

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A Conversation With the "Original Internet Godfather"

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Accountability at All Levels

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An Introduction to Non-Fungible Tokens (NFTs) and Fraud

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Navigating the Threat Landscape in Today’s Tech-Driven World

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Case Study: Fraud and Corruption in Youth Sports

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The 5 Most Scandalous Fraud Cases of 2020

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Unraveling the Web: Tracing Marital and Separate Assets in Matrimonial Disputes

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Unexpected Endings: The Impact of Mistrials in Fraud Prosecutions

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Uncovering Ghost Pharmacies: A Case of Counterfeit Drugs

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Revisiting the Arguments for a National Financial Crime Registry

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Government Fraud: Understanding Occupational Misconduct and Key Countermeasures

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How Blockchain Technology Can Mitigate the Risk of Fintech Fraud

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Threats to Qui Tam False Claim Suits

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Ghosting: The Dark Reality of Stolen Lives

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Dental Fraud: A Multi-Faceted International Crime Problem

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Simple Frauds That Should Have Been Caught

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Revolutionizing Ethics, Integrity and Compliance: How Indian Pharma Giants Can Secure Positions in the Global Market

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Summiting Success: A Journey Through Mentoring and Its Impact on Career Progression

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Unveiling the Hidden Challenges of Supply Chain Management in the Chemical Industry

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Tips for Teaching Anti-Fraud Lessons to Modern Learners

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Generative AI and the Fraud Examiner

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The Resurgence of Old-School Fraud in the Age of Advanced Technology

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The Perilous Evolution of Deepfakes and Voice Technology

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Volunteer From Home: How CFEs Can Empower and Support Victims of Consumer Scams

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FTX: Global Comparisons on Crypto Exchange Regulations

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Tax Season, Fraud Season

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Fraud in the Family

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The U.S. and EU's Dance with AI Risks: A Tale of Two Approaches

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The 2015 FIFA Scandal Revisited: Applicability As A Case Study In The World Of Academia

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Organizational Vulnerabilities in a Protracted Work-from-Home Scenario

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What’s Intent Got to Do With It?

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Role of Culture, Language and Traditions of Global Key Managers and Employees in Fraud Risk Management

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The Most Dangerous Blame Game: How Victim Blaming Uniquely Harms Fraud Victims

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Pakistan’s Journey Off the “Grey List”

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Student Loan Forgiveness is a Hunting Ground for Fraudsters

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The Role of Forensic Accountants in Measuring and Detecting Fraud in Employee Loss Claims

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Scientific Misconduct in the Medical Field: The Lies That Lead to Fraud

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Federal Trade Commission and U.S. Senators Push for Social Media Fraud Controls

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Life Insurance Scams in India: Bringing the Dead Back to Life Through Fraud

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Steadying the Ship: Regulators’ Fight Against Health-Care Fraud

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Fraud in a Time of ESG

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Level Up Your Fraud Risk Assessment: Achieving Best-in-Class FRA

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Level-Up Your Fraud Risk Assessment

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The Birth of New Fraud Legislation

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Large-Scale Hacks Illustrate DeFi Vulnerabilities

While DeFi might hold a lot of promise for proponents of cryptocurrency and whatever Web 3.0 becomes, these large-scale losses show that the platforms and apps feature several serious, exploitable fraud risks.

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How Illusory Superiority Can Threaten Your Fraud Investigations

Similar to the overconfidence bias, illusory superiority is described as when you overestimate your own abilities when compared to others. Confidence is an important trait for fraud examiners, but too much of it can lead to mistakes in investigations — and illusory superiority can contribute to overconfidence in imperceptible ways.

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When Caretakers Empty the Coffers: A Look at Guardianship Fraud

In nearly every state, guardians are considered fiduciaries. As such, they have a duty to act in their clients’ best financial interests. Sadly, that’s not always the case. 

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Short Term Rentals Can Lead to Long Term Fraud

While STRs may be a lucrative opportunity for many, they are not without fraudsters targeting them as well.

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Understanding QR Code Fraud

Consumers should be wary of any QR code provided by an unknown source; such codes should be treated like unknown hyperlinks.

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New Russia-Related Sanctions and Export Controls

Corporate leaders are faced with a moral dilemma, weighing the financial interests of their stakeholders against the public interest in unifying against the violent invasion of a sovereign nation. Further complicating the situation, some corporate leaders must also determine whether to cut ties with their own employees based in Russia — employees with families to feed and support. 

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Seven Steps for Designing an Anti Fraud Training Program

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Think Like a Hunter When Going After Fraud

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New CFE Finds Fulfillment in Anti-Fraud Industry After Career in Law Enforcement

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How a Cryptocurrency Tied to a Shipwreck Launched a Steel Company’s Stock Through the Roof

On July 15, a South Korean treasure hunting company called the Shinil Group claimed it found the wreck of a Russian warship, the Dmitrii Donskoi. The ship sank east of the Korean Peninsula more than 100 years prior during a 1905 battle with the Japanese while carrying a cargo of 200 tons of gold bullion, according to Shinil’s claim.

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Big Data Analytics are Necessary to Fight Unique Fraud

When large corporations, agencies or insurance companies establish relief funds, fraudsters rationalize their thefts because they believe that these large entities can absorb the costs. Since huge settlements involve numerous transactions and claims, fraudsters often hope that their actions will be lost in an enormous sea of data. The allure of a big payout can be a draw for fraudsters. Luckily, there is an answer: big data analytics.

Published in Fraud Examiner Archives

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Self-Described 'Fraud Consultant' Charged With Another Embezzlement

Published in Fraud Examiner Archives

ACFE Insights Blog

5 Tips to Help You Pass the CFE Exam

For anyone who made a New Year’s resolution to pass the CFE Exam this year, now may be the perfect time for you to take the first necessary steps to earn the Certified Fraud Examiner credential. Sometimes the hardest part of achieving a goal is simply getting started.

Published in ACFE Insights Blog

ACFE Insights Blog

7 Warning Signs That May Indicate Fraud Within Your Company

According to the ACFE’s Report to the Nations, organizations with less than 100 employees suffered larger median losses than those of larger companies. In other words, fraud can happen at any organization, no matter the size, so it’s important to understand the warning signs. So, what are the warning signs to look out for?

Published in ACFE Insights Blog

ACFE Insights Blog

ACFE Voices: Charles Washington, CFE

Recently, Charles Washington, CFE, spoke on a panel for an ACFE webinar titled “A Conversation About Diversity, Equity and Inclusion in the Anti-Fraud Profession.” In this post, he digs in even further into this topic to share insights and advice on how you can make an impact in your own workplace and foster a culture of diversity, equity and inclusion as an anti-fraud professional.

Published in ACFE Insights Blog

ACFE Insights Blog

ACFE Voices: Monica Modi Dalwadi, CFE, CPA

Monica Modi Dalwadi, CFE, CPA, is a managing partner in the D.C. area for Baker Tilly. She works primarily with owners and financial officers of companies, providing business consulting services. She also acts as a valued advisor to her clients as a partner and leader in risk, internal audit and cybersecurity.

Published in ACFE Insights Blog

ACFE Insights Blog

Fraud Talk: Behind the Scenes of Wirecard's Billion-Dollar Accounting Fraud

In this episode of Fraud Talk, Mason Wilder, CFE, ACFE senior research specialist, and Brian Fox, vice president of strategic partnerships at Thomson Reuters and president & founder of Confirmation, discuss the rise and fall of the German payments group, Wirecard. 

Published in ACFE Insights Blog

ACFE Insights Blog

Free and Affordable Ways to Earn CPE Virtually

We all have so many questions right now. When will this be over? How can I keep moving when it feels like the world is telling me to stand still? What does the future hold? While I can’t answer any of these questions for you, I can answer a question we have been getting here at the ACFE: what are some easy ways for me to get my CPE while social distancing?

Published in ACFE Insights Blog

ACFE Insights Blog

Prevent Fraud Before It Happens: How to Train Employees to Be Fraud Detectors

As anti-fraud professionals, we are trained to find and fix the opportunities for fraudulent activity within our organizations. But there are usually only a few of us and many employees. How is a small team, or single fraud professional, supposed to deter and detect all fraud?

Published in ACFE Insights Blog

ACFE Insights Blog

Top 4 Internal Controls That Reduce Fraud Losses

The ACFE’s 2020 Report to the Nations not only identifies the top anti-fraud controls that can help protect organizations, but also illustrates what can happen when controls are weak or altogether missing.

Published in ACFE Insights Blog

ACFE Insights Blog

Visualizing Fraud Relationships Using Natural Language Processing

Learn how natural language processing converts unstructured information into a visual knowledge graph. This step-by-step guide shows you how to quickly map complex, hidden networks of actors and transactions to uncover fraud schemes. 

Published in ACFE Insights Blog

ACFE Insights Blog

Using Behavioral Experiments to Understand Refund Fraud in Customer-Centric Retail

How do you detect and prevent behaviors that aren't perceived as wrong? Learn more about how behavioral economics and experimental game theory can offer tools to go beyond procedural audits by looking at how people think and behave. 

Published in ACFE Insights Blog

ACFE Insights Blog

Can I Point You This Way? Empowering Crypto Investors to Avoid Scams

Learn why tools like scam trackers and professional expertise are critical to verifying cryptocurrency investment opportunities and protecting yourself from fraudulent schemes that have resulted in billions in losses. 

Published in ACFE Insights Blog

ACFE Insights Blog

Voting for the 2026–2027 ACFE Board of Regents is Now Open

This year, nine candidates are on the ballot and will fill three open positions on the 2026–2027 ACFE Board of Regents. All CFEs who are in good standing have until November 30, 2025, to cast their votes.

Published in ACFE Insights Blog

ACFE Insights Blog

Balancing Proactive and Reactive Approaches to Fraud Prevention

Preventing fraud is not one easy step, but rather multiple components combined to increase efficiency of fighting fraud. Discover how to simplify your fraud prevention strategy by breaking it down into four balanced steps. 

Published in ACFE Insights Blog

ACFE Insights Blog

When Reputation Becomes an Opportunity for Fraud

Explore how brand trust can become a reputational smokescreen that enables opportunistic fraud, such as quality-washing and fraud-washing, and what to look out for. 

Published in ACFE Insights Blog

ACFE Insights Blog

Ghost Fraud: A Haunting Reality

Ghost fraud schemes are not about spooky spirits — but insidious financial attacks. Explore these scams that involve non-existent employees draining payrolls and silent ghost taps stealing information from mobile wallets. 

Published in ACFE Insights Blog

ACFE Insights Blog

6 Ways to Get Involved in International Fraud Awareness Week

Whether it is hosting a training session, sharing educational materials on social media or joining a community initiative, there are many ways to contribute to the fight against fraud.

Published in ACFE Insights Blog

ACFE Insights Blog

Cybersecurity Awareness Month: How to Protect Sensitive Information Online

Learn from ACFE Research Director Mason Wilder, CFE, about how to protect your information online this year during Cybersecurity Awareness Month. 

Published in ACFE Insights Blog

ACFE Insights Blog

Racketeering Suit Targets Tallahassee "Elder Care" Players

A lawsuit filed in Florida accused a group of elder care professionals of a racketeering scheme defrauding an elderly man with dementia. This case explores the challenges of combating elder fraud and the importance of finding the "predicate" fraud that started the chain of illegal acts. 

Published in ACFE Insights Blog

ACFE Insights Blog

Ways to Combat Trending Text Scams: Fake Deliveries, Job Offers and Toll Tags

Protect yourself from "smishing" scams by learning how to spot and avoid trending text message scams including fake delivery notifications, job offers and toll agency scams. 

Published in ACFE Insights Blog

ACFE Insights Blog

Strengthening Public-Sector Fraud Defense

Through the ACFE Law Enforcement and Government Alliance (LEGA) program, government agencies can explore anti-fraud training and resources to prevent, deter and reduce fraud within their organizations.

Published in ACFE Insights Blog

ACFE Insights Blog

Catching What Prevention Misses: The Case for Detective Controls

Explore why preventative measures alone aren’t enough and how detective controls like reconciliations, exception reporting and management reviews help organizations catch fraud that slips through the cracks.

Published in ACFE Insights Blog

ACFE Insights Blog

Future-Proofing Fraud Prevention: The Role of Corporate Alliances in Emerging Threats

Explore how the ACFE Corporate Alliance creates a collaborative space for members to share anti-fraud knowledge, tools and strategies to stay ahead of evolving fraud schemes.

Published in ACFE Insights Blog

ACFE Insights Blog

When Lean Controls Are Not Enough: Rethinking Refund Fraud Prevention

Lean management systems relying on technical controls alone fail to prevent fraud due to social and cultural dynamics causing employees to circumvent or ignore policies. Explore the author’s breakdown and solution to this fraud prevention issue.

Published in ACFE Insights Blog

ACFE Insights Blog

Key Findings from The Impact of Fraud at U.S. Public Companies Benchmarking Report

A new benchmarking report from the Association of Certified Fraud Examiners (ACFE) and the Anti-Fraud Collaboration (AFC) uncovers insights into how fraud is affecting U.S. public companies and what can be done to fight back.

Published in ACFE Insights Blog

ACFE Insights Blog

10 Red Flags That Exposed a Troubled EPC Company

Dive into the forensic review of an engineering, procurement and construction (EPC) company, exploring the red flags and insights discovered from the investigation.

Published in ACFE Insights Blog

ACFE Insights Blog

6 High-Profile Fraud Cases of the Last 6 Months

From government corruption and fraudulent cryptocurrency networks to celebrity wire fraud and massive health care scams, the first six months of 2025 have been filled with high-profile fraud cases. Here are six fraud cases that defined the first half of the year. 

Published in ACFE Insights Blog

ACFE Insights Blog

In Case You Missed It: 36th Annual ACFE Global Fraud Conference

From keynote session highlights to the sights and sounds from Nashville, this blog provides an overview of what you may have missed the 36th Annual ACFE Global Fraud Conference.

Published in ACFE Insights Blog

ACFE Insights Blog

Whistleblower Support: What the U.K. Can Learn from the U.S. and Canada

It is important to recognize the critical role whistleblowers play in efforts to combat financial crime. However, while countries such as the United States and Canada have paved the way here, the United Kingdom has been slow to follow suit.

Published in ACFE Insights Blog

ACFE Insights Blog

What to Expect at the 36th Annual ACFE Global Fraud Conference

The 36th Annual ACFE Global Fraud Conference is set to have an extraordinary lineup of keynote speakers, networking opportunities, a fundraising concert and more.

Published in ACFE Insights Blog

ACFE Insights Blog

How Leadership Rationalizes Fraud in the Name of Efficiency

What if the largest enabler of fraud is not a rogue employee, but an executive who believes they are doing the right thing for the business? Discover how senior leaders can unintentionally enable fraud by prioritizing efficiency over ethics.

Published in ACFE Insights Blog

ACFE Insights Blog

Promotion Playbook for New Fraud Fighters

Wondering how to turn “invisible” fraud-prevention wins into a clear case for a raise or promotion? In this Q&A, veteran managers reveal the performance metrics, certifications and soft-skills that convince decision-makers you’re ready for the next step.

Published in ACFE Insights Blog

ACFE Insights Blog

When Lean Becomes a Liability: How Streamlining Can Enable Fraud

What if the very strategy that makes a company efficient is also what makes it vulnerable to fraud? Explore how fraud can quietly thrive in streamlined organizations and what anti-fraud professionals can do about it. 

Published in ACFE Insights Blog

ACFE Insights Blog

Road to the CFE Credential: New Certified Fraud Examiners Share Their Journey

What does it take to earn your CFE credential? Two professionals share their motivations, study strategies and how becoming a Certified Fraud Examiner (CFE) advanced their careers.

Published in ACFE Insights Blog

ACFE Insights Blog

Learning from JPMorgan's $175M Due Diligence Error

In 2021, JPMorgan acquired Charlie Javice's startup, Frank, for $175 million, only to soon discover they were victims of her scam. Learn how even banking giants like JPMorgan can fall victim to fraud by not taking the proper due diligence measures.

Published in ACFE Insights Blog

ACFE Insights Blog

Care Meets Money: A CFE's Guide to the Medical Revenue Cycle

Even well-intentioned medical professionals can face legal consequences when they neglect the business side of health care. Understanding the revenue cycle is key to spotting fraud, reducing risk and maintaining compliance.

Published in ACFE Insights Blog

ACFE Insights Blog

You Found Fraud, Now What? A Guide to Responding Effectively

Responding to fraud requires careful investigation, objective decision-making and clear documentation. Discover the steps organizations should take after discovering fraud, from internal investigations to criminal referrals, with insights from Occupational Fraud 2024: A Report to the Nations. 

Published in ACFE Insights Blog

ACFE Insights Blog

More Than 24 Hours: The Impossible Day Health Care Scheme

David Judd, a Michigan nurse practitioner, billed for an unattainable number of patient visits and hours, leading to significant overpayments from Medicare. Read more about this scheme, known as the "Impossible Day", where health care providers will fraudulently claim they worked more than 24 hours in a single day. 

Published in ACFE Insights Blog

ACFE Insights Blog

The Role of Risk Management Professionals in Fighting Fraud

Risk management professionals play a vital role in identifying vulnerabilities and building resistance against fraud. By integrating fraud risk into broader organizational strategies, they help prevent schemes before they start and support a culture of accountability.

Published in ACFE Insights Blog

ACFE Insights Blog

What Data Says About Health Care Fraud

Health care fraud continues to drain vital resources from the U.S. system, impacting patients and providers alike. This blog breaks down the latest data, trends and enforcement efforts behind the $54 billion recovered through the False Claims Act since 1987.

Published in ACFE Insights Blog

ACFE Insights Blog

Inspiring Future Fraud Investigators Through University Competitions

Drexel University held their 11th annual Fraud and Internal Control Case Competition (F1C3), giving students the opportunity to practice their anti-fraud skills in a realistic, professional environment.

Published in ACFE Insights Blog

ACFE Insights Blog

Home Is Not Where the Help Is: Fraud in Home Health Care

Home health care is ripe for fraud, with the federal government estimating that 69% of the population will need caregiving—a vulnerable population that could be very appealing to fraudsters seeking to exploit Medicare and Medicaid systems.

Published in ACFE Insights Blog

ACFE Insights Blog

The Importance of Mexican Companies Investigating and Sanctioning Misconduct

As private sector companies in Mexico continue to reshape business efficiencies and increase in value, accountability and oversight remain as important as ever. Explore why regulatory efforts and internal investigations must meet the growing demand in the region.

Published in ACFE Insights Blog

ACFE Insights Blog

Spear Phishing in the Age of AI

Traditionally a heavier lift, spear phishing is using new tools to make these schemes more effective and easier for fraudsters to execute. Explore how AI is automating research to craft customized spear phishing strategies.

Published in ACFE Insights Blog

ACFE Insights Blog

Patients for Cash: Kickbacks in Health Care

Recent cases highlight how kickbacks are often disguised through lavish gifts, hidden payments and sham business arrangements, emphasizing the importance of maintaining ethical practices in health care.

Published in ACFE Insights Blog

ACFE Insights Blog

AI and Fraud Detection: Insights from ACFE Research Institute Grant Recipient

Fraud detection is a growing challenge, but researchers like Ivy Munoko are exploring how AI and key audit factors can improve detection efforts. Supported by the ACFE Research Institute, her work provides critical insights for auditors, fraud examiners and regulators navigating an evolving fraud landscape.

Published in ACFE Insights Blog

ACFE Insights Blog

The Language of Health Care: A Key Tool in Fraud Examinations

Health care fraud remains a major problem in the anti-fraud field, requiring a deep understanding of industry terminology for effective investigations.

Published in ACFE Insights Blog

ACFE Insights Blog

Insights from the ACFE’s In-House Fraud Investigation Teams: 2025 Benchmarking Report

As fraud risks evolve, having a strong in-house investigation team is crucial—but how do you gauge its effectiveness? The In-House Fraud Investigation Teams: 2025 Benchmarking Report delivers key insights on team structure, case resolution and training investments to help you strengthen your fraud response strategy.

Published in ACFE Insights Blog

ACFE Insights Blog

Communicating AI Risks to Employees — And Why Now is the Time to Get Started

While many organizations are still adjusting to AI-driven risks introduced by industry leaders like OpenAI and Google, a new wave of AI tools like DeepSeek presents fresh challenges that organizations must address.

Published in ACFE Insights Blog

ACFE Insights Blog

The Evolution of Government Fraud

The first ACFE Report to the Nations was published nearly 30 years ago in 1996. It would be overly simplistic to say that fraud has grown since then, but the data clearly shows significant increases as more information has been reported by CFEs around the world.

Published in ACFE Insights Blog

ACFE Insights Blog

Educating Future Fraud Fighters: The Power of Case-Based Learning

The next generation of Certified Fraud Examiners (CFEs) must navigate blurred ethical boundaries, hidden conflicts of interest and inconsistent regulatory standards across industries and borders. To meet this challenge, the author proposes case-based learning.

Published in ACFE Insights Blog

ACFE Insights Blog

The Power of Forensic Accountants in Uncovering Fraud and Protecting Organizations

Fraud can infiltrate even the most secure organizations, leaving a trail of financial and reputational damage in its wake. When fraud arises, forensic accountants play a critical role in uncovering the truth, guiding investigations and safeguarding organizational integrity.

Published in ACFE Insights Blog

ACFE Insights Blog

90-Day CFE Exam Challenge Success Story: Cecilia Arlene Alva, CFE, CIA

Read on to discover Cecilia’s approach to exam preparation, how the challenge helped her succeed and her advice for future participants aiming to earn their CFE credential. 

Published in ACFE Insights Blog

ACFE Insights Blog

90-Day CFE Exam Challenge Success Story: David Rodriguez, CFE

David Rodriguez, CFE, CPA, CIA combined multiple study techniques to pass the 90-Day CFE Exam Challenge. Here he outlines how he succeeded using the challenge group, different study methods and support from others in the ACFE Community. 

Published in ACFE Insights Blog

ACFE Insights Blog

A Positive Step for British Banks and Shared Information

Reuters recently reported that more than half a dozen British banks were in advanced talks with law enforcement and government agencies over plans to systematically share intelligence on major financial crimes such as money laundering and terrorism financing.

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ACFE Insights Blog

ACFE Names New President, Chief Executive Officer

Today brings both sadness and joy as the Association of Certified Fraud Examiners bids farewell to outgoing President and CEO Bruce Dorris, who leaves the ACFE to take some time for himself and his family before beginning the next chapter of his career.  

Published in ACFE Insights Blog

ACFE Insights Blog

AI Fraud: The Hidden Dangers of Machine Learning-Based Scams

Artificial intelligence (AI) itself is not inherently fraudulent. AI is a field of computer science that focuses on the development of computer systems that can perform tasks that typically require human-like intelligence, such as learning, problem solving and decision making.

Published in ACFE Insights Blog

ACFE Insights Blog

AI's Double-Edged Sword: How Fraudsters are Weaponizing Intelligence

Like any tool, AI can be wielded for malicious purposes. Fraudsters are increasingly leveraging AI to enhance the efficiency and sophistication of their scams.   

Published in ACFE Insights Blog

ACFE Insights Blog

Antwerp’s Diamond Trade: A Brilliant Tale of Risky Business Practices

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.

Published in ACFE Insights Blog

ACFE Insights Blog

Apply Today for the Ritchie-Jennings Memorial Scholarship!

The Ritchie-Jennings Memorial Scholarship provides an opportunity for students to advance their education and anti-fraud career paths. Additionally, it supports their anti-fraud interests by providing a full year of ACFE membership. Award amounts are $10,000, $7,500, $5,000 and $2,000 and are paid directly to the recipient’s university or college.

Published in ACFE Insights Blog

ACFE Insights Blog

Behind the Hype: The Unhealthy Reality of Health MLMs

Multi-level marketing (MLM) companies have been around for decades, but they have recently gained popularity in the health and wellness industry. You’ve seen these companies promoting on social media, like the ubiquitous “Hey hun!” in your Facebook Messenger, or perhaps even approaching you in public squares and asking to join their “exclusive” club, buy their product or join their workout group.

Published in ACFE Insights Blog

ACFE Insights Blog

Benford’s Law: Applications

This blog serves as part two in a three-part series on Benford’s Law.

Published in ACFE Insights Blog

ACFE Insights Blog

Benford’s Law: How to Use It to Spot Fraud

Conventional wisdom suggests that each digit has an equal chance of being the first digit, but Benford's law shows that lower numerals always have a greater chance at being the leading digit compared to higher numerals.

Published in ACFE Insights Blog

ACFE Insights Blog

Case Study: Decoding the Cobweb of Letter of Credit

When investigating fraudulent activity as it relates to letters of credit, red flags are important to explore during the preliminary investigation to identify money laundering.

Published in ACFE Insights Blog

ACFE Insights Blog

Case Study: Florida Nurse Convicted of $200 Million Medicare Fraud

Medicare fraud poses a significant threat to the integrity and sustainability of the Medicare program. A recent and troubling Medicare fraud case in Florida involved nurse practitioner Elizabeth Hernandez, who was convicted of fraudulently billing over $200 million for unnecessary orthotic braces and genetic testing.

Published in ACFE Insights Blog

ACFE Insights Blog

Catch Me If You Con: Frank Abagnale Jr. and the Resurgence of Check Fraud

The name Frank Abagnale Jr. is synonymous with check fraud and counterfeiting. His story, which was popularized in the 2002 film "Catch Me If You Can," starred Leonardo DiCaprio as the master imposter himself. Though times have changed nearly 60 years later, Abagnale's schemes serve as a warning to banks and businesses to be on high alert for check fraud.  

Published in ACFE Insights Blog

ACFE Insights Blog

Don’t Get Hooked by the Geek Squad Phishing Scam

A new phishing scam preying on Best Buy customers is making the rounds. The fraudulent email claims to be from Best Buy's tech support team Geek Squad and tricks users into giving away personal information. Do not take the bait — this is what you need to know to avoid becoming a victim. 

Published in ACFE Insights Blog

ACFE Insights Blog

Elevate Your Exam Preparation with the New CFE Exam Prep Course

This new update to the CFE Exam Prep Course makes studying for your CFE Exam an easier process with integrated lessons and Knowledge Checks to ensure you are gaining the most from your study time.  

Published in ACFE Insights Blog

ACFE Insights Blog

Emerging Trends in Fraud Law: What Professionals Need to Know

In the ever-evolving landscape of fraud, staying informed about emerging trends is not just a choice — it is a necessity. As professionals in the field of fraud prevention, we understand that knowledge is our most potent weapon against the ever-adaptive tactics of fraudsters.

Published in ACFE Insights Blog

ACFE Insights Blog

Engagement Baiting, Data Mining and Your Personal Data

Engaging in clickbait quizzes could lead to providing hackers with enough information to bypass common security protocols on your personal accounts.

Published in ACFE Insights Blog

ACFE Insights Blog

Essential Steps for Protecting Your Company in a Fraud Investigation

Fraud is a pervasive issue that affects businesses, organizations and individuals across various industries. Often, an organization is surprised to find itself a victim of fraud, especially when the perpetrator is a trusted employee. According to the Association of Certified Fraud Examiners Occupational Fraud 2022: A Report to the Nations, organizations lose approximately five percent of revenue to fraud each year with the average loss per case totaling more than $1.78 million.

Published in ACFE Insights Blog

ACFE Insights Blog

Fake Documents are on the Rise—Here are 3 Trends to Watch

Anna Sorokin, the so-called “fake German heiress” (perhaps better known by her alias Anna Delvey), came dangerously close to duping a hedge fund out of $25 million. According to The New York Times, she intended to defraud the financial institution by creating fake bank statements in Adobe Photoshop, a task that she said took “surprisingly little time.” 

Published in ACFE Insights Blog

ACFE Insights Blog

Falsifying Business Records: Federal Regulations and State Laws

Federal law does not explicitly criminalize falsifying business records, but the act is criminalized under several federal regulations.

Published in ACFE Insights Blog

ACFE Insights Blog

Financial Literacy for a Better Tomorrow

According to the Wiley Online Library, “Financial literacy is the ability to use knowledge and skills to manage financial resources effectively for a lifetime of financial well-being." Sounds pretty useful, right? But how do we learn financial literacy? And when should we start? 

Published in ACFE Insights Blog

ACFE Insights Blog

Forensic Approach to Reel Off Diversion of the Institutional Product to Local Markets

Despite strict regulations in India, drug diversion to the normal market remains a persistent problem, compromising patient safety and industry credibility.

Published in ACFE Insights Blog

ACFE Insights Blog

Fraud and Injustice: A Global Crisis in Indigenous Communities

Indigenous peoples around the world face marginalization and exploitation, leading to increased vulnerability. This puts them at a particular risk for fraud, as opportunistic fraudsters take advantage of systemic inequalities. Fraud against indigenous communities is especially harmful due to the unique challenges these groups face.

Published in ACFE Insights Blog

ACFE Insights Blog

Fraud Perspectives: Nonfungible Tokens

While NFTs offer numerous benefits, such as increased security and unique ownership, they also present new fraud risks. Understanding these risks and how to mitigate them is essential for organizations that are considering investing in NFTs. 

Published in ACFE Insights Blog

ACFE Insights Blog

Fraud Perspectives: Virtual Remote Work Forever

Mason Wilder, the Research Manager at the Association of Certified Fraud Examiners (ACFE), sat down with Steve Dawson, CFE, CPA, and James Rumph, CFE, CIA, CPA, for a virtual webinar hosted by the ACFE and The Institute of Internal Auditors (The IIA).

Published in ACFE Insights Blog

ACFE Insights Blog

Fraud Talk: Confessions of a Fraudster

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.

Published in ACFE Insights Blog

ACFE Insights Blog

Fraud Talk: The Art and Ethics of Social Engineering

In this episode, Jenny Radcliffe, aka "The People Hacker," discusses her expertise as an ethical social engineer, honing those skills at an early age on the streets of Liverpool, and unique challenges she has faced over the years. Joining ACFE Community Manager Rihonna Scoggins during Women's History Month, Jenny explains how being a woman in her field and gender biases she has observed played a significant role in understanding the "human element" behind social engineering

Published in ACFE Insights Blog

ACFE Insights Blog

Fraud, Waste and Abuse Schemes in the Addiction Treatment Industry

With addiction being the most severe form of substance use disorder (SUD), symptoms can range from moderate to severe. In 2021, drug abuse was added to the list of high-risk situations by the Government Accountability Office (GAO). GAO high-risk list are areas susceptible to increased fraud, waste and abuse.  

Published in ACFE Insights Blog

ACFE Insights Blog

Fresh Estate Fraud Case Unfolds In South Carolina

A new estate fraud case is center-stage in South Carolina’s courts. The Palmetto state has been a hotbed of probate, trust and conservator fraud cases dating back more than half a decade.

Published in ACFE Insights Blog

ACFE Insights Blog

Investigating Insurance Fraud in Property Damage Claims

With suspect property fraud schemes, many vandalism insurance claims may appear innocuous at first glance. However, every claims adjuster must be prepared to identify, handle, and most importantly, defeat the elements of fraud that may be present within these types of losses. 

Published in ACFE Insights Blog

ACFE Insights Blog

Investigating White-Collar Crimes: Legal Tools and Techniques

White-collar crime, an insidious and complex category of offenses, extends far beyond the conventional image of criminal activity. Understanding white-collar crime is crucial for individuals and finance, law and security professionals in our interconnected world.

Published in ACFE Insights Blog

ACFE Insights Blog

Leading the Way on Recovering the Proceeds of Corruption

The head of Peru's judiciary, Javier Arévalo Vela, recently publicly highlighted Peru's success in recovering the proceeds of corruption and related financial crimes through its non-conviction based forfeiture law, Extinción de Dominio.

Published in ACFE Insights Blog

ACFE Insights Blog

"Madoff: The Monster of Wall Street": Netflix Releases Gripping New Series

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. 

Published in ACFE Insights Blog

ACFE Insights Blog

Member Profile: Allison Benkert, CFE

Armed with an innate passion for justice and a keen understanding of the criminal mind, Allison Benkert, CFE, has carved a remarkable career path dedicated to unraveling fraud, seeking truth and ensuring accountability. 

Published in ACFE Insights Blog

ACFE Insights Blog

Member Spotlight: Frank Dara, CFE

Frank Dara, CFE worked his way up from a Loss Prevention in-store Detective to becoming the North America Investigations Manager for Nike after years of fraud fighting. This is his story in his own words.

Published in ACFE Insights Blog

ACFE Insights Blog

Mentoring Success Story: Francesca Gabella, CFE and Aristotelis Konstantinos Koufos

Aristotelis Konstantinos Koufos and Francesca Gabella, CFE, a dynamic duo united by their shared passion for fraud prevention and audit, take us on an insightful journey through their mentor-mentee relationship and their experiences in the ACFE Mentoring Program. 

Published in ACFE Insights Blog

ACFE Insights Blog

New and Improved ACFE Newsletter Launches January 2024

This exclusive resource marks a consolidation of our three existing newsletters into a unified, comprehensive source of knowledge and insights aimed at empowering you in the fight against fraud.

Published in ACFE Insights Blog

ACFE Insights Blog

Pass the CFE Exam in 90 Days! Join the 90-Day CFE Exam Challenge

If you have the CFE Exam Prep Course, the Prep Toolkit or are planning to get either of the two, we invite you to sign up for the 90-Day CFE Exam Challenge and earn your Certified Fraud Examiner (CFE) credential.   

Published in ACFE Insights Blog

ACFE Insights Blog

Prosecution and Penalties of White-Collar Crimes

Often linked to organized crime, white-collar crimes pose a persistent challenge today. These are usually nonviolent crimes like identity theft, mortgage fraud, computer crimes and tax evasion. To bring the culprits to justice, it's important to prosecute them rigorously.  

Published in ACFE Insights Blog

ACFE Insights Blog

Protect Yourself from Tax Preparer Fraud

Tax season can be a stressful time for many people, and it's important to be vigilant in order to protect yourself from tax preparer fraud. By following these tips, you can help protect yourself from tax preparer fraud and ensure that your tax return is accurate and handled properly. If you suspect that you've been a victim of tax preparer fraud, contact the IRS immediately. 

Published in ACFE Insights Blog

ACFE Insights Blog

Public and Private Partnership in Information Sharing to Combat Fraud

To counter fraud's growing threat, information sharing mechanisms related to fraud detection and prevention have advanced significantly. Notably, an increasing number of fraudulent information-sharing initiatives are now adopting a public-private partnership approach, involving cooperation between government agencies, law enforcement and private sector entities.

Published in ACFE Insights Blog

ACFE Insights Blog

Ritchie-Jennings Memorial Scholarship Recipient: Hasmik Meloyan

Meet Hasmik Meloyan, one of the latest recipients of the ACFE's Ritchie-Jennings Memorial Scholarship. Hasmik's journey is a testament to her relentless pursuit of academic and professional growth, all aimed at making a significant difference in the anti-fraud arena.

Published in ACFE Insights Blog

ACFE Insights Blog

Ritchie-Jennings Memorial Scholarship Recipient: Jordan Newman 

Meet Jordan Newman, a driven individual who received the prestigious Ritchie-Jennings Memorial Scholarship for excelling in his professional and academic pursuits.

Published in ACFE Insights Blog

ACFE Insights Blog

Second Edition of the Fraud Risk Management Guide Released by COSO and the ACFE

Co-published by the Committee of Sponsoring Organizations of the Treadway Commission (COSO) and the Association of Certified Fraud Examiners (ACFE), the Fraud Risk Management Guide provides direction for creating a comprehensive program to manage fraud risks within an organization.

Published in ACFE Insights Blog

ACFE Insights Blog

Spotlighting Key Organizations Championing LGBTQ+ Rights

Today, Pride Month is a time to celebrate the achievements of the LGBTQ+ community and to advocate for greater equality and acceptance. For those who identify as LGBTQ+ or are allies, it's an opportunity to learn more about the community and support their rights.

Published in ACFE Insights Blog

ACFE Insights Blog

The Evolution of Check Fraud

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. 

Published in ACFE Insights Blog

ACFE Insights Blog

The Hidden Storm: Understanding Fraud in the Wake of Natural Disasters

In the aftermath of events like Hurricane Idalia and the wildfires in Hawaii, it is crucial to be aware of the various types of fraud that can emerge. 

Published in ACFE Insights Blog

ACFE Insights Blog

The Investigative Process of White-Collar Crimes

The investigative process is essential for uncovering crimes, particularly white-collar crimes. These are crimes committed by individuals, organizations or public officials for financial gain, often without resorting to violence. Edwin Sutherland, one of the pioneers in this field, recognized the complex nature of these offenses. 

Published in ACFE Insights Blog

ACFE Insights Blog

The Mysterious Case of Disappearing Funds: A Cryptic Case Study on Sam Bankman-Fried

Sam Bankman-Fried's meteoric rise was coupled with an aura of mystery, and questions began to circulate about the integrity of his financial dealings.

Published in ACFE Insights Blog

ACFE Insights Blog

The U.K.’s Economic Crime and Corporate Transparency Bill

The U.K.’s Economic Crime and Corporate Transparency Bill made its way through the House of Commons and, more recently, the House of Lords. As the bill approaches becoming law and faces only a few final steps before being law, an analysis of details and slated changes is timely. 

Published in ACFE Insights Blog

ACFE Insights Blog

The Unseen Dangers of Influencer Fraud: A Growing Concern in the Digital Age

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. 

Published in ACFE Insights Blog

ACFE Insights Blog

The Wayback Machine: A Tool for Nostalgia and Fraud Examination?

As part of the Internet Archive, the Wayback Machine contains a historic log of an estimated 735 billion web pages, making it an incredibly powerful database supporting a range of businesses and industries.  

Published in ACFE Insights Blog

ACFE Insights Blog

Through the Looking Glass: Spotting MLMs and Pyramid Schemes

Multi-level marketing (MLM) companies and pyramid schemes share similarities like recruitment-focused structures but have key differences, such as the sale of products in MLMs versus pyramid schemes that redistribute payments and fees to early investors.

Published in ACFE Insights Blog

ACFE Insights Blog

Too Good to be True? 4 Ways to Avoid Vacation Rental Scams

Booking a vacation rental online comes with the convenience of browsing listings from the comfort of home. But it also opens the door to scammers trying to take advantage of unsuspecting travelers.

Published in ACFE Insights Blog

ACFE Insights Blog

Uncovering Corporate Espionage: A Tale of Deceit and Discovery

In the world of corporate espionage, uncovering the truth can be a daunting task. But when a global research firm approached us to investigate the simultaneous resignation of two key employees in the latter half of 2020, we knew we had our work cut out for us. The management suspected that the employees were leaving to join a competitor in the same region and requested an eDiscovery review to determine the truth. 

Published in ACFE Insights Blog

ACFE Insights Blog

Uncovering Financial Mismanagement: A Case of Investment Risks and Investigation

A group of investors who had invested USD $100 million in an educational institution were concerned about the institution's operations and suspected that their funds were being misused. Our team of experts took on the case, employing a range of techniques and procedures to uncover the truth.

Published in ACFE Insights Blog

ACFE Insights Blog

Investigating Fraud in Patient Assistance Programs (PAPs)

Patient Assistance Programs (PAPs) provide free or low-cost medications to eligible patients who cannot afford them. Despite regulatory oversight, instances of PAP fraud have been reported globally.

Published in ACFE Insights Blog

ACFE Insights Blog

Unravelling Financial Fraud: A Journey of Anomalies and Analysis

Toward the end of the spring season, our team was contacted by the internal audit head of a global retail organization who requested that we investigate several abnormal transactions in a recently acquired subsidiary, referred to as "PQR," located in the western region of India.

Published in ACFE Insights Blog

ACFE Insights Blog

Updating AML Compliance Programs: Integrating FinCEN’s Priorities

As the landscape of financial crime continues to evolve, financial institutions must stay vigilant and prepared to address emerging risks. In this regard, aligning anti-money laundering (AML) programs with the Financial Crimes Enforcement Network AML Priorities becomes crucial.

Published in ACFE Insights Blog

ACFE Insights Blog

Vote for the 2024-2025 ACFE Board of Regents

This year, nine candidates have been selected to fill three positions on the 2024-2025 Board of Regents. 

Published in ACFE Insights Blog

ACFE Insights Blog

Why Are Pandemic Fraudsters Going Unpunished?

Although well-intentioned, the U.K.’s fiscal response to the COVID pandemic has been seriously flawed, creating huge opportunities for fraudsters to exploit multiple shortcomings of the various schemes offered by the government to help support businesses.

Published in ACFE Insights Blog

ACFE Insights Blog

Behavioral Biometrics: The Next Big Weapon to Fight Fraud

Behavioral biometrics are used to verify the identity of an individual through the analysis of patterns of human behavior. Unlike traditional biometric methods, behavioral biometrics are a more convenient and less intrusive form of identification. 

Published in ACFE Insights Blog

ACFE Insights Blog

HOA Fraud is a Hardly Detected and Thriving Cancer of Our Society

The most affordable homes can be the ones built as part of a homeowner’s association (HOA) – nothing wrong with that. The surroundings are always maintained through the HOA and the only thing homeowners need to worry about is the interior of the house, as well as paying regular monthly dues to the HOA.  But after settling in, it may quickly become apparent that living under an HOA involves a level of oversight that can be surprising. 

Published in ACFE Insights Blog

ACFE Insights Blog

20 Years After Sarbanes-Oxley

Arthur Andersen, Enron and WorldCom certainly left behind a legacy that changed the financial world, especially that of the public company. The Public Company Accounting Oversight Board (PCAOB) was born thanks to SOX and with it brought attention and improvements.

Published in ACFE Insights Blog

ACFE Insights Blog

2023-2024 Board of Regents Voting

Each year, Certified Fraud Examiners (CFEs) in good standing are given the opportunity to help foster the growth and development of the anti-fraud profession by casting votes for the Association of Certified Fraud Examiners (ACFE) Board of Regents.

Published in ACFE Insights Blog

ACFE Insights Blog

5 Steps to Safeguard Your Business from Cyberattacks and Fraud in 2022

In today’s modern age almost every business is dependent on the internet and information technology to accomplish a variety of daily operational tasks. From emails to e-commerce and e-banking, sensitive business activities are conducted via the internet. While the internet has undoubtedly made it easier for businesses of all shapes and sizes to operate, it has also made it easier for cybercriminals to gain access to confidential information and systems.

Published in ACFE Insights Blog

ACFE Insights Blog

90-Day CFE Exam Challenge Success Story: Abigail Zieglar, CFE

Abigail had her first introduction to the fraud industry when a former coworker referred her to an open position at their health insurance company. Later she began her work as a Fraud Coordinator in 2018 and since has made the transition to becoming a Fraud Analyst. In 2021, Abigail joined the 90-Day CFE Exam Challenge, where she was able to study and pass her exams within 90 days.

Published in ACFE Insights Blog

ACFE Insights Blog

90-Day CFE Exam Challenge Success Story: Dr. Tim Klatte, CFE

After years of experience leading hundreds of fraud-related investigations, Dr. Tim Klatte, CFE made the decision to prepare for the CFE exam with the help of the 90-Day CFE Exam Challenge.

Published in ACFE Insights Blog

ACFE Insights Blog

ACFE Launches Government Resources Hub Highlighting Focused Trainings and Resources

Now available at ACFE.com/Government, this new hub offers multiple forms of content for government and public administration professionals to expand their knowledge base and continue developing skills essential to the prevention and detection of fraud at various levels of government.

Published in ACFE Insights Blog

ACFE Insights Blog

Are You Ready to Seize Some Cryptocurrency?

The U.S. Department of Justice (DOJ) announced in early February 2022 that they had arrested two individuals, Ilya Lichtenstein and his wife Heather Morgan. When the couple was arrested in connection with the theft of cryptocurrency from the Bitfinex cryptocurrency exchange in 2016 and subsequent laundering of the proceeds, it led to one of the most valuable seizures of illicit proceeds in law enforcement history.

Published in ACFE Insights Blog

ACFE Insights Blog

As Lisa Osofsky Steps Down, What’s Next for the SFO?

It comes as no surprise to learn that Lisa Osofsky is stepping down next summer after five years as head of the U.K.’s Serious Fraud Office (SFO). Ms. Osofsky has overseen an often contentious five years at the helm of the U.K.’s leading fraud prosecution agency.

Published in ACFE Insights Blog

ACFE Insights Blog

Audiophiles File Suit: Mobile Fidelity Sound Lab Faces Fraud Allegations

On July 14, 2022, Mike Esposito, owner of The ‘In’ Groove record store in Phoenix, Ariz., stated that MoFi has been using digital files in its production of so-called original master tape albums despite marketing the reissues as authentic.

Published in ACFE Insights Blog

ACFE Insights Blog

Case Study: Overseas Contractor Bribed Official to Defraud the U.S. Government

An investigation into fraudulent activities was turned over to me after three other independent investigators did not satisfy the leadership of the results. Here is how my team calculated the $611K loss due to fraud that other investigations missed. 

Published in ACFE Insights Blog

ACFE Insights Blog

Case Study: The Employee and Vendor Nexus

Recently, I worked on a case wherein a whistleblower raised allegations on two employees that the company was engaging in unethical practices. The allegations included bribery and corruption, conflict of interest, breach of code of conduct, misappropriation of assets, high prices and poor quality of products supplied and abuse of position.

Published in ACFE Insights Blog

ACFE Insights Blog

Charity Fraud: How to Donate Without Becoming a Victim of a Scam

Unfortunately, not all causes we are called to join have a noble motive; some of them are organized by unscrupulous individuals who take advantage of our generosity to steal our money. But how can you donate without being a victim of a charity scam?

Published in ACFE Insights Blog

ACFE Insights Blog

Crocodile of Wall Street Rendered Toothless as Authorities Bite Back

A self-proclaimed amateur rapper nicknamed the “Crocodile of Wall Street,” Heather Morgan, along with her husband Ilya Lichtenstein, were arrested and charged with conspiracy to allegedly launder $4.5 billion in stolen Bitcoin.

Published in ACFE Insights Blog

ACFE Insights Blog

Crypto Platform “Head Trader” Pleads Guilty in $100 Million Ponzi Scheme

Joshua David Nicholas, the head trader of cryptocurrency platform EmpiresX, pleaded guilty on September 8 in an alleged investment fraud that raised around $100 million for the company, according to the U.S. Justice Department.

Published in ACFE Insights Blog

ACFE Insights Blog

Cyber Week Scams

The growing trend of shoppers preferring pajamas and pumpkin pie to cold weather and crowds reached an all-time high in 2021 as online shopping for the holiday season soared due to the COVID-19 pandemic. In 2022, global online sales again hit a new high of $281 billion during Cyber Week (Thanksgiving Day through Cyber Monday). So, what do all these numbers mean for fraud examiners?

Published in ACFE Insights Blog

ACFE Insights Blog

Elizabeth Holmes Found Guilty on Four Charges of Fraud

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.

Published in ACFE Insights Blog

ACFE Insights Blog

Former Theranos COO Found Guilty on Federal Fraud Charges

On Thursday, a jury of seven women and five men convicted Ramesh “Sunny” Balwani on 12 counts of federal fraud.

Published in ACFE Insights Blog

ACFE Insights Blog

Fraud Talk: A Look at the Growing Issue of Medical Identity Theft

While victims of traditional identity theft often catch it quickly, victims of medical identity theft may not know they are victims until they need critical medical treatment. In this episode of Fraud Talk, Scott Ward, CFE, senior vice president at Qlarant, discusses the insidious nature of medical identity theft, the impact it has on its victims and what people and governments can do to help combat it.

Published in ACFE Insights Blog

ACFE Insights Blog

Fraud Talk: Filling Your Anti-Fraud Toolbox

Tod McDonald, CPA and Garth Leonard, CFE, from Valid8 Financial, join ACFE Community Manager Rihonna Scoggins in the most recent episode of Fraud Talk to explore the current resources at hand for fraud examiners.

Published in ACFE Insights Blog

ACFE Insights Blog

Fraud Talk: Fraud Now, Pay Later

In this excerpt from episode 118 of Fraud Talk, Jim Ducharme, COO of Outseer, talks with Rihonna Scoggins, ACFE Community Manager, about how Buy Now, Pay Later services are being exploited through identity theft.

Published in ACFE Insights Blog

ACFE Insights Blog

Fraud Talk: Justice for Fraud Victims - Remembering Who We’re Fighting For

In this excerpt from episode 123 of Fraud Talk, Kate Pospisil, ACFE Communications Specialist, and associate professor of accounting, taxation and business law at SUNY Old Westbury, Dr. David Glodstein, speak about how the Justice for Fraud Victims Project benefits underprivileged groups and small businesses, while allowing the next generation of fraud fighters to learn and gain professional experience. 

Published in ACFE Insights Blog

ACFE Insights Blog

Fraud Talk: Military Veterans’ Experiences and Skills Brought to the Anti-Fraud Table

In Episode 125 of Fraud Talk, ACFE Training Director Jason Zirkle, CFE, is joined by Collins Wanderi, CFE, Bill Stakes, CFE, and Monica Meeks, CFE, to discuss the tools they’ve gained and advice they offer to veterans and active-duty military members looking to earn their CFE credential.

Published in ACFE Insights Blog

ACFE Insights Blog

Fraud Talk: The Insane, Real-Life Story of Crazy Eddie Antar

In this excerpt from episode 124 of Fraud Talk, ACFE Chief Training Officer John Gill, J.D., CFE, and Gary Weiss, author of “Retail Gangster: The Insane, Real-Life Story of Crazy Eddie,” talk about the insurance scheme Eddie Antar committed but was never caught for.

Published in ACFE Insights Blog

ACFE Insights Blog

From Their Plates to Our Pockets — $250 Million Stolen from Pandemic Food Program

The Justice Department charged 47 defendants on September 20th for allegedly defrauding a federal program that provided food for needy children during the pandemic, describing the scheme — totaling nearly $250 million — as the largest uncovered to date.

Published in ACFE Insights Blog

ACFE Insights Blog

FTX Collapse to Get Insider Treatment by “The Big Short” Author Michael Lewis

In an email obtained by “The Ankler,” it was revealed that Michael Lewis, the author of "The Big Short", has been working on profiling the Sam Bankman-Fried’s rise to power, as well as a once-budding rivalry between the 30-year-old billionaire and Binance CEO Changpeng Zhao.

Published in ACFE Insights Blog

ACFE Insights Blog

How To Catch a Fraudster That Doesn’t Exist

Synthetic identity fraud occurs when perpetrators combine piecemeal and, at times, factual information to create a new identity.

Published in ACFE Insights Blog

ACFE Insights Blog

Is This Recruiter a Scammer? Red Flags to Look Out for During the Great Resignation

In the past year, record numbers of employees have been quitting their jobs, and sometimes leaving entire industries. With so much turmoil in the job market, it comes as no surprise that fraudsters are pouncing. Career scammers are targeting job seekers using LinkedIn to reach out with fake offers and requesting personal information.

Published in ACFE Insights Blog

ACFE Insights Blog

Managing Cognitive Bias in Fraud Investigations

Cognitive bias is when an investigator's own assumptions or beliefs impact their judgment of information and evidence. When investigating fraud, it is important that the investigator be able to think clearly and make unbiased decisions. 

Published in ACFE Insights Blog

ACFE Insights Blog

Member Spotlight: Alex De Genaro, CFE

Alexandre De Genaro, CFE, realized he was on the right path when he garnered his first confession during a fraud investigation. After spending time in information security and loss prevention, De Genaro is now the Head of Business Security, Latin America for General Mills.

Published in ACFE Insights Blog

ACFE Insights Blog

Member Spotlight: Angelica Isgleas Pacheco, CFE

Angelica Isgleas Pacheco, CFE, began her career as an auditor for an accounting firm. She found her love for fighting fraud through her career and has excelled due to her passion for her community. This is her story in her own words.

Published in ACFE Insights Blog

ACFE Insights Blog

Member Spotlight: Diana Muyibi, Ritchie-Jennings Memorial Scholarship Recipient

Diana Muyibi is a graduate student studying at State University of New York (SUNY), Old Westbury and also a proud past recipient of the ACFE’s Ritchie-Jennings Memorial Scholarship. Diana is in the Master of Science in forensic accounting program and is expected to graduate this spring. 

Published in ACFE Insights Blog

ACFE Insights Blog

Member Spotlight: Michael Mingo-Dabney, CFE

Michael Mingo-Dabney, CFE, began his career as an anti-fraud professional after learning about the prevalent embezzlement and money laundering corrupting a town in Colombia while serving as a volunteer for the Peace Corps. Michael continues his work against fraud as a fraud analyst for C2 Alaska, as well as serving as a contractor for the Securities and Exchange Commission’s Division of Enforcement.

Published in ACFE Insights Blog

ACFE Insights Blog

Member Spotlight: Paul McCormack, CFE

Paul McCormack, CFE, began his career in anti-fraud as a forensic accountant and after gaining a wealth of experience, he made the leap and started his own freelance writing business in the fraud and compliance space. Paul has written for countless publications and companies throughout the industry, including Fraud Magazine.

Published in ACFE Insights Blog

ACFE Insights Blog

Member Spotlight: Ryan Cannon, Ritchie-Jennings Memorial Scholarship Recipient

Ryan Cannon is an undergraduate student studying at the University at Albany and also a proud past recipient of the ACFE’s Ritchie-Jennings Memorial Scholarship. Ryan is pursuing a dual major in Homeland Security and Business Administration.

Published in ACFE Insights Blog

ACFE Insights Blog

Member Spotlight: Sherene Teo, CFE

Sherene Teo, CFE, began her career in anti-fraud as an auditor in China and after encouragement she applied to become an in-house investigator which helped her gain experience to join her new team at Microsoft.

Published in ACFE Insights Blog

ACFE Insights Blog

Member Spotlight: William Klun

ACFE member William Klun spent decades working in the financial industry before setting his sights on fighting fraud. In addition to his drive to seek the truth, he also spends time helping refugees find asylum. Here is his story in his own words.

Published in ACFE Insights Blog

ACFE Insights Blog

Mentoring Success Story: Holly and Caroline

The ACFE Mentoring Program connects members to anti-fraud professionals from all over the world who can offer a wealth of resources, experience, advice and guidance. Mentees can search among registered mentors to find individuals whose experience and expertise match the areas in which they wish to be mentored. Caroline Kaye initially reached out to Holly Atkins, CFE, after viewing her mentor profile on the ACFE Community, and since then the pair have been connecting through their personal and professional experience.

Published in ACFE Insights Blog

ACFE Insights Blog

Mentoring Success Story: Kate Rolan and David Harper, CFE

The ACFE Mentoring Program connects members to anti-fraud professionals from all over the world who can offer a wealth of resources, experience, advice and guidance. Kate Rolan initially reached out to David Harper, CFE, after seeing his experience in law enforcement and investigations on the ACFE Community. This is Kate and David’s mentoring story.

Published in ACFE Insights Blog

ACFE Insights Blog

Old Tactics, New Landscape

CFEs have a good eye for email scams and can usually spot them quickly. But sometimes the language and graphics are so convincing that they fool even the most skilled observer.

Published in ACFE Insights Blog

ACFE Insights Blog

Safeguarding American Investors and Consumers

Could increased disclosure and whistleblower protections for private companies prevent another fraud scheme like Theranos?

Published in ACFE Insights Blog

ACFE Insights Blog

Scammers in the Spotlight

We have compiled a list of the most popular recent limited series, documentaries and films about fraud that can add context to known cases, illustrate some common fraud schemes and provide insight into the fraudsters at the center of these now infamous frauds.

Published in ACFE Insights Blog

ACFE Insights Blog

Support Groups for Fraud Victims

With all the busy work of report writing, speaking to law enforcement, preparing for court and filing examination findings, investigators do not always remember the trauma a financial loss can be to the victim.

Published in ACFE Insights Blog

ACFE Insights Blog

Terrifying Tales of Fraud to Keep You Up at Night

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.

Published in ACFE Insights Blog

ACFE Insights Blog

The Certified Fraud Examiner Seeks to Prove Reality

Reality is simply based in fact, whether it be an event or transaction. A fraudster’s movement is a documented reality. Reality, or the truth, is simply confirmed by documentation, digital footprints and verifiable eyewitnesses, which can be pieced together to reveal the factual timeline.

Published in ACFE Insights Blog

ACFE Insights Blog

The Dark Side of Cryptocurrency Hardware Wallets

In September 2021, the IRS published a request for proposal titled, “Development of Exploitation Techniques Against Cryptowallets.” According to supporting documentation, it appears that the digital forensics unit of their Criminal Investigations branch has repeatedly run into scenarios involving the seizure of crypto hardware wallets (also known as cold storage devices) that could not be accessed due to their security features.

Published in ACFE Insights Blog

ACFE Insights Blog

The Netherlands: A Warm Investment Climate

Besides its stable political and economic environment, what makes the land of tulips and windmills so attractive to corporate giants such as Starbucks, Google and Amazon?

Published in ACFE Insights Blog

ACFE Insights Blog

The Oversight Role of Supreme Audit Institutions

Supreme Audit Institutions (SAIs) play an important role in national and global economy by ensuring that public resources are managed properly and in accordance with established rules.  

Published in ACFE Insights Blog

ACFE Insights Blog

Three Charged in First Cryptocurrency Insider Trading Scheme

The U.S. Department of Justice (DOJ) has brought insider trading charges against Ishan Wahi, a former Coinbase product manager, Nikhil Wahi and Sameer Ramani after they allegedly made profits of more than $1 million by buying crypto assets before their listings on the exchange.

Published in ACFE Insights Blog

ACFE Insights Blog

Two New Regents Elected to 2023–24 ACFE Board of Regents

The Association of Certified Fraud Examiners (ACFE) is proud to announce that Thomas Caulfield, CFE, and Natalie Lewis, CFE, have been elected to the 2023–24 ACFE Board of Regents. Fellow Certified Fraud Examiners (CFEs) elected them from candidates selected by the Board's nomination committee. Caulfield and Lewis will take office at the Board's meeting in February. 

Published in ACFE Insights Blog

ACFE Insights Blog

Unethical Actions of Russian Energy Companies Are Rattling the Marketplace

In 2021, Russian crude and condensate output reached 10.5 million barrels per day, making up 14% of the world’s total supply. In the same year, Russia exported oil worth USD 300 billion, accounting for 11% of the global oil trade. The country exports most of its oil production, with almost all going to Europe (about 80%) and Asia (about 20%).

Published in ACFE Insights Blog

ACFE Insights Blog

What You Should Know About Money Mules

Money mules continue to play a key role in international money laundering operations. Accordingly, both Europol and the FBI have recently stepped up their efforts to raise public awareness about money mules and how to avoid becoming one.

Published in ACFE Insights Blog

ACFE Insights Blog

Why the U.K. Should Follow the U.S.'s Whistleblowing Lead

Whistleblowing is one of the most powerful weapons in the fight against fraud, money laundering and corruption, but the United Kingdom’s approach needs to be reconsidered. Whistleblowing can be a testy subject, but I believe it is potentially one of the most powerful weapons in our anti-money laundering (AML) arsenal.

Published in ACFE Insights Blog

ACFE Insights Blog

Zelle Scams Are on The Rise: A Look at a Recent Attempt

Online payments through apps such as Zelle are easy to use and serve a valid purpose in today’s digital society. However, as easy as they are to use, they also give fraudsters an easily accessible path to steal your money.

Published in ACFE Insights Blog

ACFE Insights Blog

Fraud Talk Crossed Wires Unraveling the Relationship Between Cybersecurity and Fraud

At the 33rd Annual ACFE Global Fraud Conference, Roderick Chambers speaks with ACFE Research Manager Mason Wilder, CFE, to discuss the importance of technical controls and knowledge to protect your organization from fraud.

Published in ACFE Insights Blog

ACFE Insights Blog

Fraud Talk: Following the Breadcrumbs-Tracing Cryptocurrencies in Fraud Investigations

In this excerpt from episode 117, Larry Nielson talks with Mason Wilder, CFE, about how prevalent cryptocurrency is in his fraud work, and how crypto is being used in traditional crime as a new medium.

Published in ACFE Insights Blog

ACFE Insights Blog

Fraud Talk: The Oxfraud - What a Pseudo-Academic Conspiracy Theory Tells Us About Financial Fraud

William Shakespeare is widely considered to be one of the most prolific and influential writers of all time. But one group of individuals, who call themselves “Oxfordians” and their theory the "Shakespeare Authorship Question," falsely claim that what we know to be Shakespeare's plays and poetry were actually penned by someone else. 

Published in ACFE Insights Blog

ACFE Insights Blog

Shakira Tax Evasion Case: Did the Hips Don't Lie Singer Lie About Where She Was Living?

International pop star Shakira has been in the spotlight this past week – not because of a new album or performance, but for a looming trial in a tax fraud case.

Published in ACFE Insights Blog

ACFE Insights Blog

Take Pride in Fighting Fraud: How the LGBTQ Community Can Stay Vigilant All Year Long

Pride Month may be over, but, for scammers, the calendar doesn’t matter: There’s fraud to be had every month of the year.

Published in ACFE Insights Blog

ACFE Insights Blog

The Golden Era of Fraud Investigations Is Upon Us, But It Relies on Better Financial eDiscovery

Recent reports show that PPP loan fraud soared in the last two years, putting billions of taxpayer dollars in the pockets of fraudsters and criminals.

Published in ACFE Insights Blog

ACFE Insights Blog

A Framework for Effective Fraud Risk Management

As a result of the memorandum titled “Individual Accountability for Corporate Wrongdoing” issued by former U.S. Deputy Attorney General (DAG) Sally Yates on September 9, 2015, even those who merely had knowledge that something wrong was happening but didn’t report it would potentially face penalties.

Published in ACFE Insights Blog

ACFE Insights Blog

Health Care Fraud: 5 Common Billing Schemes

According to the National Health Care Anti-Fraud Association, the U.S. loses tens of billions of dollars each year to health care fraud. This post discusses five common billing schemes, and how to detect and prevent them.

Published in ACFE Insights Blog

ACFE Insights Blog

Top 8 Concealment Methods Used by Fraudsters

An act of fraud rarely occurs without subsequent acts to hide it. In the time after a fraud takes place, perpetrators are working in multiple ways to either circumvent controls or take advantage of a lack of controls.

Published in ACFE Insights Blog

ACFE Insights Blog

Infamous Fraud Cases of the 21st Century

Published in ACFE Insights Blog

ACFE Insights Blog

5 Ways to Mitigate Fraud Risk

The growing abundance of internal and external threats can make it difficult to stay ahead of fraudsters. While fraud itself hasn’t changed all that much in recent years, the risks continue to grow in both size and complexity as technology changes and the ability to move, share and expose corporate assets becomes easier. In today’s technology-crazed age, the scope of risk is growing, and businesses that do not keep up with evolving threats will be vulnerable.

Published in ACFE Insights Blog

ACFE Insights Blog

Kozlowski's $6,000 Shower Curtain Added to the ACFE Fraud Museum

Dubbed the “archetype of avarice” by The New York Times, Dennis Kozlowski could have written the book on how NOT to set an ethical tone at the top.

Published in ACFE Insights Blog

ACFE Insights Blog

You Discovered Fraud — Now What? 5 Steps to Take After Suspecting Fraud in Your Company

If you suspect fraud has occurred at your organization, take these immediate action steps.

Published in ACFE Insights Blog

ACFE Insights Blog

Stuffing the Stockings: Unwrapping Stock Market Manipulation and Insider Trading Fraud

Stock market manipulation and insider trading fraud are perennial challenges, with fraudsters capitalizing on information asymmetry and exploiting investor psychology.

Published in ACFE Insights Blog

ACFE Insights Blog

Pass the CFE Exam in 90 days! Join the 90-Day CFE Exam Challenge

If you have the CFE Exam Prep Course, the Prep Toolkit or are planning to get either of the two, we invite you to sign up for the 90-Day CFE Exam Challenge and earn your Certified Fraud Examiner (CFE) credential by March 31, 2025.

Published in ACFE Insights Blog

ACFE Insights Blog

Fraudify Wrapped 2024: The Year in Fraud Trends

Welcome to Fraudify Wrapped 2024! Drawing from industry trends, news stories and expert insights, we have compiled a recap of the biggest fraud developments of the year.

Published in ACFE Insights Blog

ACFE Insights Blog

Two New Regents Elected to 2025–2026 ACFE Board of Regents

The Association of Certified Fraud Examiners (ACFE) is proud to announce that Annemari Krugel, CFE, and Mark J. Sullivan, CFE, CPP, CFI, have been elected to the 2025–2026 ACFE Board of Regents. Fellow Certified Fraud Examiners (CFEs) elected them from candidates selected by the Board's nomination committee. Krugel and Sullivan will take office in February 2025. 

Published in ACFE Insights Blog

ACFE Insights Blog

Fraudsters Unveiled: What Decades of Data Tell Us About Perpetrators

When the Association of Certified Fraud Examiners (ACFE) conducted its first Report to the Nation in 1996, one of the purposes was to describe the typical occupational fraud perpetrator. In 1996, our results showed that the typical fraudster was a college-educated, married, white, male employee. While some consistencies remain, much has changed in recent years.

Published in ACFE Insights Blog

ACFE Insights Blog

Flavor of Fraud: Uncovering Culinary Cons

Food fraud is dangerous for many reasons. It has the potential to cause harm to people and the economy through its deception. When ingredients are removed or added, it greatly changes the product that is being sold, which may harm individuals, as well as damage the reputations of companies and industries at large.

Published in ACFE Insights Blog

ACFE Insights Blog

How Internal Audit Powers Fraud Investigations and Protects Organizations from Within

Among the most valuable assets in an organization’s fraud prevention toolkit is its internal audit team. Internal auditors have the advantage of an insider’s view of an organization’s controls, making them uniquely positioned to help identify fraud risks and support investigations.

Published in ACFE Insights Blog

ACFE Insights Blog

Is It Enough? Fraud Prevention and Risk Management Considerations

What does it mean to have an organization that has a culture that ensures a massive theft does not occur—or if someone does attempt a fraud, it is caught early?

Published in ACFE Insights Blog

ACFE Insights Blog

Voting for the 2025–2026 ACFE Board of Regents is Now Open

This year, six candidates are on the ballot and will fill two open positions on the 2025-2026 ACFE Board of Regents. All CFEs who are in good standing have until November 30, 2024, to cast their votes. The newly elected Regents will each serve a two-year term beginning in February 2025.  

Published in ACFE Insights Blog

ACFE Insights Blog

The Future of Fraud Magazine: What’s Ahead in 2025

As part of this exciting shift, Fraud Magazine will transition to become a fully digital, online publication. The January/February 2025 issue will be the final printed and shipped version of the magazine, honoring the publication’s long history and celebrating its growth into the future.

Published in ACFE Insights Blog

ACFE Insights Blog

Study Strategies for the CFE Exam

Are you gearing up to take the Certified Fraud Examiner (CFE) exam? Proper preparation is key to success, and here is how you can effectively strategize and streamline your study process.

Published in ACFE Insights Blog

ACFE Insights Blog

Conflicts, Corruption and Bribery: A Summary of 2023 Cases

This yearly compilation, which dates back to 1990, highlights key cases involving conflict of interest, bribery and corruption by federal employees, contractors, grant recipients and others. 

Published in ACFE Insights Blog

ACFE Insights Blog

Uncovering Conflict and Kickback Fraud: A Case Study in the Automobile Industry

This article presents a detailed case study of a leading automobile company that undertook a comprehensive investigation into allegations of kickbacks, conflicts of interest among its vendors and employees, and theft of high-quality automotive paint.

Published in ACFE Insights Blog

ACFE Insights Blog

6 Ways to Get Involved in International Fraud Awareness Week

Whether it is hosting a training session, sharing educational materials on social media or joining a community initiative, there are many ways to contribute to the fight against fraud.

Published in ACFE Insights Blog

ACFE Insights Blog

2024 Compensation Guide for Anti-Fraud Professionals: Key Insights and Trends

The 2024 Compensation Guide for Anti-Fraud Professionals comes with several new findings and analysis, reflecting the evolving landscape of the anti-fraud profession.

Published in ACFE Insights Blog