How Departmental Collaboration Enhances Fraud Prevention

How Departmental Collaboration Enhances Fraud Prevention

Most organizations understand that collaboration is a pillar of a successful company, yet in practice, it often does not happen. It is important and necessary to have goals and targets because they push your organization to perform at a higher level. However, without communication and collaboration between teams, the metrics can unknowingly pit departments against each other.

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CFE Job Search Strategies: The Keyword Dilemma

CFE Job Search Strategies: The Keyword Dilemma

Recently, a former student (and a newly minted CFE) asked about what types of keywords they should be searching in job postings to help them attain their ultimate goal to be a fraud examiner. That led me to think about that question and what it means to search for a position.

In previous Fraud Magazine columns, I've written about how to define your areas of interest, limitations and ultimate career plans. These questions — and a thoughtful reflection period — can help you immensely in your career search.

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Member Spotlight: Mitchel Huffman

Member Spotlight: Mitchel Huffman

Mitchel Huffman, CFE, works as a staff accountant at Rea & Associates, a “top 100” accounting firm based out of Ohio. Earlier this year, Huffman was thrilled to get the two years’ experience needed to become a CFE. During his time with Rea & Associates, Huffman has done both tax and assurance services. He was originally more interested in the tax route, but due to his firm’s assurance department needing staff, he shifted his focus to assurance work. As Huffman became more familiar with this work, he started to really enjoy it and is looking forward to where it takes him in the future.  

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5 Awkward Situations That Led to the Discovery of a Fraud Scheme

5 Awkward Situations That Led to the Discovery of a Fraud Scheme

We’ve all found ourselves in an awkward situation from time to time. As uncomfortable as they are, it can sometimes be hard to avoid them. 

You’re at the grocery store when someone unexpectedly waves at you so you wave back, only to realize they were waving at the person behind you.

You nod off at your desk right when your boss walks by.

It’s the end of the date and you say bye, but then you both start walking in the same direction. 

Yikes. 

Those are all pretty cringe-worthy moments, but they don’t compare to these five awkward situations that ultimately led to the discovery of a fraud scheme. Unfortunately for these fraudsters, they couldn’t just walk away and pretend it didn’t happen.

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One Lawyer, Four Siblings and $12 Million Worth of Tax Evasion

One Lawyer, Four Siblings and $12 Million Worth of Tax Evasion

After nearly a decade of legal proceedings, Manhattan District Judge Kevin Castel has condemned four siblings to jail sentences, each of less than a year, for an extensive tax fraud scheme. The siblings — Suzanne, John, Henry and Yvonne — were all children of Harry Seggerman, a vice chairman of Fidelity Investments who made millions by investing in Japanese and Korean companies. When Harry died in 2001, he left his children a vast estate worth $24 million. This included $12 million in a secret account in Switzerland, stashed there to evade taxes. Faced with the decision to report the inherited money or to maintain their father’s legacy of tax fraud, the siblings chose to keep up the farce, a decision that is finally bearing consequences.

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