Nov 15, 2017 10:00:00 AM

Anti-Fraud Maturity Curve

I was invited to present this week at AICPA Controllers Conference, where I also presented two years ago. My first presentation was a four-hour workshop about real-life fraud and the second presentation covered the Anti-Fraud Maturity Curve (AFM Curve). The participants learned about the significant impact fraud has on the organizations and people involved—from the loss of human life to millions of dollars stolen.

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Topics: Anti-Fraud

Oct 25, 2017 10:00:00 AM

Don’t Fear the Fraudster!

Poltergeist, Friday the 13th, Nightmare on Elm Street, and Pet Cemetery are movies from my childhood. Each movie is scary in its own special way, and they all generate suspense and fear that transcends the theater experience. We imagine things lurking in the shadows or hear strange noises in the night. Fear is powerful—it can make you run faster than you thought possible or freeze you dead in your tracks.

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Topics: Fraud

Oct 11, 2017 10:30:00 AM

Do Financial Institutions Know Their Customers?

The United States government has filed civil lawsuits against numerous entities and individuals to recover various assets “involved in and traceable to an international conspiracy to launder money misappropriated from 1Malaysia Development Berhad (“1MDB”), a strategic investment and development company wholly-owned by the government of Malaysia.”[i] According to one suit that was filed in June 2017:

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Topics: Fraud

Oct 4, 2017 10:00:00 AM

Fraudsters Love the Fall

Fall is a special time of year. The cooler weather is refreshing, the leaves are turning amazing colors, and candy corn is available almost everywhere. I enjoy seeing plump pumpkins, straw-filled scarecrows, and colorful Indian corn. I also look forward to wearing my coat or warming up next to a nice hot fire, which unfortunately doesn’t happen too often here in south Louisiana.

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Topics: Fraud

Sep 20, 2017 10:30:00 AM

Wanted – Fraud Fighting Leaders

Some people are born leaders while others grow into leadership roles. There is a lot of gray area between and among these two leadership categories. I will use two proven leaders to explain both—Steve Jobs and Abraham Lincoln.

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Sep 13, 2017 10:00:00 AM

Structure Needed for Successful Fraud Fighting Efforts

We all need structure in our lives. Parents provide it for their children, organizations provide it for their employees, and insurance companies provide it for their Special Investigative Unit (SIU) teams. The structure of SIU teams varies by company, but they all have the same objective—to mitigate fraud.

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Topics: SIU

Sep 7, 2017 9:00:00 AM

Tips for Effective Training

A Special Investigation Unit (SIU) is a select group of highly skilled, specially trained fraud fighters who choose to see things differently—skeptics who ask a lot of questions and have a desire to do the right thing. This desire is fed by specialized fraud training which helps them become experienced fraud fighters.

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Topics: SIU

Aug 30, 2017 10:30:00 AM

3 Ways to Get the Resources You Need

As we continue to share what we learned from our Special Investigative Unit (SIU) counterparts, we will dive deeper into the subject of resources, which I mentioned in last week’s post. Resources are an essential component to helping us meet goals. It is interesting how they are thrown at some programs and initiatives with reckless disregard while other programs receive only minimal resources. It is likely we have all seen this at various points in our careers and wondered why our program or initiative wasn’t getting the attention it deserved.

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Topics: SIU

Aug 23, 2017 10:00:00 AM

Learning From Special Investigative Units

Fraud is a risk to every organization and each one addresses it differently. Some choose to ignore it, while others develop programs to mitigate it. For those with programs, formal or informal, the resources dedicated to the fight vary greatly—which consequently creates large variations in their effectiveness. However, there is one industry that consistently takes a stand against fraud—insurance. Insurance companies take fraud seriously and have been for many years.  And companies within the insurance industry dedicate significant resources to fighting fraud.

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Topics: SIU

Aug 17, 2017 10:30:00 AM

ABCs to Fighting Fraud

This is a quick message to help fuel your fraud fighting efforts. Remember the following ABCs to effectively fight fraud:

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