Integrity Is More Than a Robust Code of Conduct

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Integrity Is More Than a Robust Code of Conduct

We all know this well-worn concept: An organization’s reputation takes years to develop, but it can collapse overnight if it didn’t originally possess integrity from the top down. “It took 160 years for Siemens to build a reputation and only five minutes to ruin it,” said Dr. Andreas Pohlmann, the former chief compliance officer of Siemens, at the 29th Annual ACFE Global Fraud Conference in June. A little ill-gotten profit means nothing if a business has to close its bank accounts when it goes belly up.

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U.S. Fraud Cases Illustrate Interconnected Nature of Multiple Fraud Charges

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U.S. Fraud Cases Illustrate Interconnected Nature of Multiple Fraud Charges

If you follow fraud stories in the news, there’s a chance one or two of them might have caught your attention last week. Although the circumstances of each case differ, they all involve politically active defendants who either pleaded guilty to, were found guilty of, or charged with committing fraud. The cases also illustrate the interconnected nature of many fraud charges.

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Key Findings from the 2018 Report to the Nations: Asia-Pacific Edition

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Key Findings from the 2018 Report to the Nations: Asia-Pacific Edition

In a new sub-report, we now focus more closely on how occupational fraud impacts organizations in the Asia-Pacific region. This study is based on the 220 cases of occupational fraud from Asia-Pacific countries that were reported in our 2017 Global Fraud Survey. Collectively, these cases, which accounted for 11% of all cases in our global study, caused a median loss of USD 236,000 and lasted a median 18 months before they were detected. 

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A Framework for Effective Fraud Risk Management

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A Framework for Effective Fraud Risk Management

There are now more reasons than ever to implement an effective fraud risk management framework for personnel in your organization. The focus on individual responsibility has dramatically altered and employees should now be educated as to the risks and repercussions, especially in the U.S. As a result of the memorandum titled “Individual Accountability for Corporate Wrongdoing” issued by former U.S. Deputy Attorney General (DAG) Sally Yates on September 9, 2015 — even those who merely had knowledge that something wrong was happening but didn’t report it would potentially face penalties.

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CFE to Sit on Panel of Experts Discussing Insider Trading Documentary

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CFE to Sit on Panel of Experts Discussing Insider Trading Documentary

Kelly Ohayon, CFE, CPA, CA, and MD of Financial Governance and Controls at BMO Financial Group, will sit on a panel of experts at an upcoming screening of Collared, a new documentary produced with the support of the Fund for Innovation in Law and Media (FILM) established at Osgoode Hall Law School of York University, as well as in partnership with the Hennick Centre for Business and Law. The screening and panel discussion will be at the HotDocs Ted Rogers Cinema, September 20 in Toronto and will offer attendees 2 hours of CPE.

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