So you’ve been the victim of fraud.  You knew something was amiss.  You hired a Certified Fraud Examiner.  A thorough fraud investigation uncovered the fraud and identified the perpetrator.  You fired the fraudster — or punished them internally — and implemented stronger anti-fraud controls as part of your overall fraud deterrence program.  So it’s over,… Read more »

Do you know your employees?  Do you understand how they function on the job or the scope of their interpersonal relationships at work?  Do you know what personal challenges or difficulties they face at home?  If not, perhaps it’s time to learn.  Understanding your employees is a key component to an effective fraud deterrence program…. Read more »

The perpetrators of fraud come in all shapes and sizes, demographically speaking.  But fraud investigations throughout the years have been able to pinpoint the more typical characteristics of a fraudster, and some of the results are surprising. “Understanding the traits of the average fraudsters isn’t going to allow you to look at your employees and… Read more »

The single most common anti-fraud control companies use as a fraud deterrence vehicle is the formal financial audit.  Unfortunately, it’s not a very effective one. In its 2014 Report to the Nations, the Association of Certified Fraud Examiners (ACFE) reported that out of 18 identified anti-fraud controls, the formal financial audit scored 16th in reducing… Read more »

Fraud deterrence programs never take a vacation, but your employees most definitely should. Requiring employees to take regular vacations is a key anti-fraud control in an organization’s comprehensive fraud deterrence program.  In its 2014 Report to the Nations, the Association of Certified Fraud Examiners (ACFE) notes that a mandatory vacation policy reduces an organization’s median… Read more »

Opportunity — the ability for fraudsters to carry out the misappropriation of cash or other company assets — is one of the three key elements necessary for fraud to occur and it is an element that organizations often can eliminate by enacting strong anti-fraud controls as part of a comprehensive fraud deterrence program. In its… Read more »

Fraud investigations into asset misappropriation — one of the three main types of fraud — reveal an assortment of deceitful means by which dishonest employees can steal from an organization. “There is no shortage of schemes by which a fraudster can misappropriate funds from an employer, whether it is a company, a non-profit or a… Read more »