News and analysis on the global fight against fraud
"The bravest man I’ve ever known.” This description of Sergei Magnitsky by Bill Browder, a keynoter at the 30th Annual ACFE Global Fraud Conference, June 23- 28 in Austin, provides a poignant insight into the life of an internationally known whistleblower who dared to take on corruption within the Russian government.
Read MoreFraud inherently deals with lots of numerical data and fraud examiners are experts at diving into those numbers and finding evidence of wrong-doing. However, with balance sheets, ledgers, expense reports and other dense documents at the forefront of many investigations, it’s easy to forget the stories of those people affected by the fraud.
Read MorePublished in September of 2018, Tom Wright and Bradley Hope’s Billion Dollar Whale: The Man who Fooled Wall Street, Hollywood, and the World is a detailed depiction of one of the largest, most sprawling financial fraud schemes of the 21st century. Wright and Hope, two long-time Wall Street Journal reporters, take the reader through the almost unbelievable tale of Jho Low’s rise to conspicuous wealth and international stardom. As Wright and Hope outline in their author’s note, they hoped not only to explain Low’s methods and motives but also to present a “larger portrait, about capitalism and inequality, told through the life of Low.” By exposing the links between big banks, kleptocracy, and corruption within Hollywood and Wall Street, Wright and Hope elucidate the structural concerns that enabled Low’s scheme while crafting a gripping narrative of infuriating oversights and ostentatious decadence.
Read MoreThe recent news of wealthy business executives and celebrities paying large sums to gain access to prominent colleges and universities for their children’s education has outraged us all. Unfortunately, academic fraud of this type, and others used to gain admittance or enhance standing, is nothing new. In 2008, Cavya Chandra was denied admission to her dream school, Cornell University. She then falsified letters of recommendation to gain entry to Carnegie Mellon, but later transferred into Cornell University using fraudulent transcripts and falsified letters of recommendation.
Read MoreIn our latest sub-report, we focus more closely on how occupational fraud impacts the Middle East and North Africa. This study is based on the 101 cases of occupational fraud from the region that were reported in our 2017 Global Fraud Survey. Collectively, these cases, which accounted for 5% of all cases in our global study, caused a median loss of USD 200,000 and lasted a median 12 months before they were detected.
Read MoreNews and analysis on the global fight against fraud.
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