Bank statement review automation. Join us on this episode of FraudCast as we discuss this with Sam Bobley, CEO of Ocrolus.
We answer questions such as: How can bank statement review be automated? What is OCR? What differentiates Ocrolus from traditional OCR solutions? What value does Ocrolus technology deliver? Who are Ocrolusâ€™s customers? How does Ocrolus price its products? And much more.
YouTube link: https://youtu.be/Qo_V_RvCEyE
New video from PBS NEWSHOUR highlighting how:
“Employers enrolled in federal and state “Rap Back” programs receive ongoing, real-time updates about their employees even after they are hired. They can keep tabs on things like encounters with law enforcement, even if those actions do not result in arrests, according to a report by The Intercept by Ava Kofman. Kofman joins Hari Sreenivasan with more details.”
Video duration: 5:57
Link to the video: http://www.pbs.org/video/2365949861/
There is new guidance just released on fraud risk management for COSO principle 8 and the full COSO framework.
[Excerpt from the ACFE Forum]
We are excited to announce the publication of the new Fraud Risk Management Guide, a resource jointly sponsored by COSO and the ACFE. This guide is an update to the previously released ACFE/IIA/AICPA publication, Managing the Business Risk of Fraud, and is designed to build on both COSO principle 8 and the full COSO Internal Control–Integrated Framework as a foundation for a comprehensive fraud risk management program.
The Executive Summary of the guide is attached to this post. We’ve also created a website (ACFE.com/fraudrisktools) that provides interactive tools and other resources to assist in implementing the practices put forth in the guide. We hope you find this new guide a valuable resource in assessing and improving your organizations’ fraud risk management programs.
Andi McNeal CFE, CPA
Director of Research
Association of Certified Fraud Examiners
FCPA Compliance & Translation Considerations
Join us on this episode of FraudCast as we discuss this with Jay Rosen, VP of Legal & Corporate Language Solutions at Merrill Brink International, a United Language Group company. We answer questions such as: Where do translation services fit into the non-English language investigation protocol? How do most organizations attempt to deal with non-English language data? How should a global organization with potential risk exposure go about finding and vetting a qualified Language Solutions Provider (LSP)? And much more.
YouTube link: https://youtu.be/-HsfrDixGZ8
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
Blockchain Technology for Compliance and Managing Risk (Part 2)
Join us on this episode of FraudCast as we discuss blockchain technology for compliance and managing risk with Ian Worrall, CEO of Encrypted Labs. We answer questions such as: How did you get started? How do you address people being skeptical about robots? Regulatory concerns? Private and/or government? And much more.
YouTube link: https://youtu.be/Uw4gsd4z-pQ
Are you at risk for AUTO FRAUD?
Join us on this episode of FraudCast as we discuss fraud in the automotive industry with Todd Wolf, Vehicle Theft Investigator of the California Highway Patrol. We answer questions such as: Why is auto fraud an issue? Who are the victims in auto fraud scams? What are some of the red flags for auto fraud? How can you protect yourself from auto fraud? And much more.
Blockchain Technology for Compliance and Managing Risk
Join us on this episode of FraudCast as we discuss blockchain technology for compliance and managing risk with Ian Worrall, CEO of Encrypted Labs. We answer questions such as: What is Blockchain Technology? How can it be used to reduce systemic Fraud? What is the competitive advantage of BigchainDB? And much more.
YouTube link: https://youtu.be/8m9RblWfORM
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:
- 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
- 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.
Request a Consultation today.
Taxonomy of Fraud in Microfinance
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.