Category Archives: Methodology

FraudCast – Interviewing in Fraud Matters

Interviewing in Fraud Matters

 

Join us on this episode of FraudCast as we discuss interviewing and interrogations in the fraud environment with Mark Anderson, Director of Training & Development of Anderson Investigative Associates LLC. We answer questions such as: How important are interviews in the digital age? What are areas of emphasis required in a fraud subject interview? How important is rapport? And much more.

YouTube link: https://youtu.be/I_EvmU_V9ow


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Filed under Compliance, Deception, FraudCast, Interviews, Methodology, Videos

Fraud Risk Assessment

Specializing in antifraud for

INSIDER THREAT & FRAUD MANAGEMENT.


The first step in effective fraud management is the Fraud Risk Assessment. It provides much more than the inputs required for a risk-based annual audit plan. The results of the evaluation begin the process to allow for the determination of risk appetite, tolerance levels (+/- %), key risk indicators (KRIs), identification of anomalies, and the development of predefined management actions and communication strategy in response to exception reporting.

Benefits of the fraud risk assessment include:

  • Visibility into the organization’s fraud risk;
  • Understanding of the risks by department and scheme;
  • Prioritize antifraud efforts and allocate resources effectively by focusing on the risks with the greatest impact and likelihood first;
  • Quantify impact and likelihood for COSO Enterprise Risk Management (ERM);
  • Benchmark for Key Risk Indicators (KRIs); and
  • Specific product recommendations for Information Security (InfoSec) authentication risks to mitigate the occurrence & impact of cyber-attacks.

Our proprietary risk assessment consists of two main parts:

  1. We ask a myriad of questions through a questionnaire and those answers become the inputs for our statistical model. The resulting report is an approximately 45-page detailed statistical fraud risk report; and
  2. An in-person evaluation that consists of interviews, walk-throughs, document review, and observation. The resulting report will highlight the primary fraud risks and provide recommendations specific to your organization.

Organizations with a fully implemented antifraud program can begin to shift from a purely reactionary response to a proactive model where prevention is the focus. We can address any of the following areas to help you get to the next level.

Global Antifraud Program

 

Request a Consultation today.


 

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Filed under Compliance, Methodology, Occupational Fraud, Reports

Taxonomy of Fraud in Microfinance

Taxonomy of Fraud in Microfinance (thumbnail)Taxonomy of Fraud in Microfinance

Background

One of the challenges we face in the antifraud industry is the lack of congruity between various thought leaders in how we define fraud and its many schemes. Each industry group or academic expert added great value to the advancement of the antifraud field. However, while every new distinction created a little more clarity, they all seemed to be inputs into a larger equation of the dynamic nature of what we face on a daily basis. In an effort to create a standardized fraud classification system that would apply across all fraud schemes, the Framework for a Taxonomy of Fraud was published by the Stanford Center on Longevity in July of 2015. It really was the first time a coding scheme was attempted that would allow for the vast universe of fraud schemes whether it be against an individual or an organization, from an insider threat such as from occupational fraud, against the public or private sector, or even industry specific fraud schemes.

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Filed under Compliance, Download, Methodology, Models and Templates, Presentations, Reports

Cell Phone Forensics

Your company can benefit from the new technology advances in cell phone forensics. Watch this short video for just a few of the ways cell phone forensics can help you with your fraud management program.

For more information, request a consultation.


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Filed under Compliance, Corporate Fraud, Methodology

Litigation Support Services

Marketing Slick - Litigation Support v2015.06.10

Ranger Protective Services and Fraud Doctor have partnered to bring you the following litigation support services:

Link Analysis

An entire case is presented in a picture that is easy for a jury to understand.

(Sample Link Analysis)

Fraud Risk Assessment

Personalized Statistical Fraud Risk Report Service

The objective of the report is to provide a tool for the client to adequately create a strategy to mitigate, avoid, accept, or transfer fraud risk where they can: understand the risk by department & scheme, prioritize antifraud efforts, quantify impact & likelihood for COSO ERM, & benchmark for Key Risk Indicators (KRIs).

(Sample Personalized Statistical Fraud Risk Report)     (Order Here)

Ratio Red Flags for Fraud Analysis

Using financial statement data, risk is ranked in a heat map by fraud scheme. This type of analysis is particularly useful in due diligence for M&A as well as disputes related to partnerships and divorce.

Services

  • Asset Location
  • Background Checks
  • Business Surveillance
  • Cell Phone Forensics
  • Missing Persons
  • Parent & Relative Searches
  • Private Investigations
  • Process Service
  • Skip Tracing
  • Training

Investigations involving:

  • Fraud (complex)
  • Child Custody
  • Corporate
  • Criminal
  • Infidelity
  • Insurance Fraud
  • Worker’s Compensation

Contact:

Jeffrey R. Baker, MBA, CFE, PI

NC Private Investigator license #3252

(704) 719-0865

Alexis C. Bell, CFE, PI

NC Private Investigator license #4590

(202) 769-7500


Download the Litigation Support Services PDF file

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Filed under Compliance, Methodology, Reports

Personalized Statistical Fraud Risk Report

The objective of the report is to provide a tool for management to adequately create a strategy to mitigate, avoid, accept, or transfer fraud risk. A detailed set of analysis is performed so as to be a roadmap for management to take action to address the risk for fraud by providing:

* Visibility into the organization’s fraud risk;

* An understanding of fraud risk by department and scheme;

* Prioritization of antifraud efforts;

* Ability to quantify impact and likelihood for COSO Enterprise Risk Management (ERM); and

* Benchmark for Key Risk Indicators (KRIs).

We do all the calculations for you!


Fraud Statistics {page 1}

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Filed under Compliance, Corporate Fraud, Download, Methodology, Models and Templates, Reports, Resources, Risk

New Benford’s Law Model

Benford's Law Model (template)

Click here to download the model.

We have developed a new model for Benford’s Law analysis.

You can analyze naturally occurring numbers (e.g. transaction level data) to see if the actual distributions conform to Benford’s Law. Under certain conditions, deviations from Benford’s could indicate the possibility of human manipulation, i.e. fraud. Therefore, those results would require additional scrutiny. This analysis provides a direction of inquiry.

This is a model for Benford’s Law analysis built in MS Excel which calculates graphical and tabular results for the following tests: Continue reading

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Filed under Download, Methodology, Models and Templates

Training in Tanzania, Africa

Map of Tanzania

I had the pleasure of teaching a three and a half day antifraud seminar at the Serena resort in Dar es Salaam, Tanzania, Africa. Participants included C-Suite, management from Legal, Banking Services, Internal Controls, and Global Corporate Audit departments from many countries across the continent.

Topics included: Continue reading

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Filed under Books, Continuing Professional Education (CPE), Methodology, Reports

Reporting Fraud Calculations

OBJECTIVE

To define the three primary calculations required when reporting the impact of fraud.

 

REPORTING FRAUD IMPACT

Employees can only manipulate activity based on the processes and records of which they have access.  It is important to understand the level of risk for fraud based on three factors (a) total exposure, (b) fraud amount, and (c) known loss.

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Filed under Methodology