News and analysis on the global fight against fraud
Technological advancements present opportunities for both fraud perpetrators and those trying to stop them. As criminals find new ways to exploit technology to commit their schemes and target new potential victims, anti-fraud professionals must ensure they are likewise adopting new technologies that are the most effective in navigating the evolving threat landscape.
Read MoreMatt White, Jacoba Ballard and Heather Woock all grew up in or around Indianapolis, Indiana, never having met one another and never imagining that they might share the same biological father. In the years 2014 to 2016, all three were in their 30s and all individually decided to partake in the recent popularity of DNA test kits, which led them to discover their shocking biological connection. After a series of messages and meetups with others who shared the same DNA, the half-siblings gradually discovered a whole circle of more than 50 people who share half of their genetic makeup. The uniting parent? Donald Cline, a fertility doctor who secretly used his own sperm to impregnate patients seeking his counsel during the 1970s and 80s.
Read MoreCryptocurrencies like bitcoin have a pseudo-anonymous nature making them attractive for money laundering, terror financing and other fraudulent activities. Cryptocurrency exchanges, where participants buy, sell and/or trade cryptocurrency for cash or fiat, commonly use a peer-to-peer network to validate transactions which are then posted to a public general ledger aka blockchain. Exchange participants can conduct more secure and anonymous transactions off-chain, which do not publicly broadcast details, to hide beneficial ownership. Cryptocurrency exchanges may or may not follow anti-money laundering (AML) and know your customer (KYC) rules for on-chain transactions. In addition, not all countries agree upon the same AML standards and may not apply them equally. Intergovernmental groups such as the Financial Action Task Force (FATF) have proposed global standards for virtual assets, which include cryptocurrencies, that will be formally adopted in June, to help ensure compliance with AML and counter terrorist financing (CTF) regulations.
Read MoreWhen traveling, you might be opening yourself up to new tactics of identity theft without even realizing it. With everything from hotel rooms to public Wi-Fi being a risk, it is important to stay on your toes when you’re away from home – whether for business or leisure. Even the most diligent of people can fall victim to a scam or make the wrong move, which can result in identity theft.
Read MoreAttention, fraud fighters! To celebrate the 30th Annual ACFE Global Fraud Conference, we invite you to join us and Forensic Strategic Solutions (FSS) for an upcoming Twitter chat. Our topic is “30 Years of Fighting Fraud.” We’ll discuss how the anti-fraud profession has evolved over the past 30 years and how fraud fighters have stepped up during that time. We hope to see you there with your own stories and experiences to share.
Read MoreNews and analysis on the global fight against fraud.
Interested in contributing to ACFE Insights? Find out how you can become a featured guest blogger.
©2024 Association of Certified Fraud Examiners, Inc. All rights reserved.
Association of Certified Fraud Examiners, ACFE, Certified Fraud Examiner, CFE and the ACFE logo are trademarks of the Association of Certified Fraud Examiners, Inc.
Powered by Squarespace
