Fraud Doctor – Page 7

Author: Fraud Doctor

I help companies protect themselves from fraud by specializing in international litigation support, antifraud consulting, training, and board advisory. I am driven by the fact that every dollar lost due to fraud is one less dollar that could be used to help someone in need (e.g. shareholders, other stakeholders, NGO clients, etc.). The ultimate goal is to protect organizations from fraud and assure funds can remain within (prevention) or return to (recovery) the organization which are then used for the original intended purpose of accomplishing their mission. I am a graduate of Cornell University with a BS in Applied Economics, completed the ASCENT fellowship at Dartmouth University, and obtained my MS in Financial Crime and Compliance Management at Utica College. I have authored three books and broken new ground with academic research in furtherance of the antifraud field. I successfully led the design and implementation of the initial Global Antifraud Program for a European public conglomerate with 165,000 employees. I then pioneered the first comprehensive Microfinance fraud risk management program covering 22 post/active conflict developing countries in the Greater Middle East, Eurasia, Latin America, and Africa. Both initiatives encompassed governance, fraud awareness training, fraud risk assessments, data analysis, investigations, and communication strategies. I am a current elected Chair to the international Board of Regents for the Association of Certified Fraud Examiners (ACFE) and appointed board member for the LexisNexis Fraud Defense Network Advisory Board. I am a champion in antifraud communities speaking at conferences & delivering specialized training. I also produce a video podcast series (FraudCast) connecting antifraud thought leaders to global followers.

Shipping Costs and Inventory Fraud

May 2, 2012May 2, 2012Fraud Doctor

Shipping Costs and Inventory Fraud Are you at risk for inventory fraud? A simple evaluation of shipping costs relative to sales over time could indicate a greater risk for inventory fraud (Bell, 2009). SHIPPING COSTS % Definition: Shipping costs expense divided by total sales: (Shipping Costs Expense) / (Total Sales) Measurement Unit: % Measures: The relationship between shipping costs and sales. Fraud Indicator: An increase is a red flag for early delivery and bill & hold schemes. A decrease could indicate fictitious revenue. Fraud Red Flag: Increase : Revenue recognition: Early delivery scheme Increase : Revenue recognition: Bill & hold scheme Decrease : Revenue recognition: Fictitious revenue References Bell, A. … Read More

Just how many fraud schemes are there?

April 27, 2012April 30, 2012Fraud Doctor

Just how many fraud schemes are there? You may be surprised. Here is a map of just occupational fraud schemes; where a person uses their job to facilitate the fraud. They are the most common schemes found in corporate fraud. However, depending on the industry, there are a host of industry-specific schemes that could be incorporated into each of these. Each fraud scheme is different with varying methodologies, positions of trust, and motives. Sometimes one fraud scheme is used by one fraudster and other times multiple schemes are used by many people. Download a free listing (PDF) of Occupational Fraud Schemes (9-pages) Request a free consultation

Is your company at risk for fraud?

April 27, 2012November 26, 2019Fraud Doctor

We help companies better understand and manage their fraud risk. We help organizations protect themselves from fraud to reduce risk, educate, and through outreach. Is your company at risk for fraud? All companies have an inherent risk for fraud estimated at 5% of revenue, according to the 2014 ACFE Report to the Nations on Occupational Fraud and Abuse. In response to the inherent risk for fraud, many companies are developing antifraud programs. The ultimate goal of an effective antifraud program is to mitigate risk to the organization due to fraud through a combination of preventative, detective, and deterrent controls. What is your company’s risk for fraud? Do you have a… Read More