Boosting Internal Controls: 4 Ways to Protect Your Company In the New Year

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Boosting Internal Controls: 4 Ways to Protect Your Company In the New Year

According to the ACFE, a lack of effective internal controls are the primary contributing factor in nearly one-third of fraud cases. Why is this? For many companies, the issue stems from the effort it takes to change set processes. Boosting internal controls isn’t difficult, but it does involve taking time to reassess company procedures. For smaller businesses, the challenge often lies in the lack of resources or staff.  

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How Artificial Intelligence Uncovered Evidence of Fraud

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How Artificial Intelligence Uncovered Evidence of Fraud

While many industries have adopted artificial intelligence (AI), mostly in the tech sector, it’s adoption rate in financial services has been relatively slow. Even though AI is far from a pipe dream, 76% of banking CXOs agree that adopting AI will be critical to differentiate in the market, the technology tends to conjure up images of sci-fi movies, with ambitious computers replacing humans. The reality of AI is much more collaborative and effective.

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Health Care Fraud: 5 Common Billing Schemes

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Health Care Fraud: 5 Common Billing Schemes

According to the National Health Care Anti-Fraud Association, the U.S. loses tens of billions of dollars each year to health care fraud. Most health care fraud is committed by providers, such as physicians and hospitals, and much of that fraud involves fraudulent billing. This post discusses five common billing schemes, and how to detect and prevent them.

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The Real People Behind Identity Theft Statistics

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The Real People Behind Identity Theft Statistics

Data breaches and identity theft continue to impact both businesses and consumers significantly. This year alone (as of November 2, 2018), there have been 1,027 data breaches which exposed over 57,667,911 million records. The Federal Trade Commission (FTC) also reported in their March 2018 Consumer Sentinel Network Data Book that they received 1.1 million reports of fraud and 371,000 reports of identity theft in 2017.

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The Importance of Voting for the Board of Regents

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The Importance of Voting for the Board of Regents

As the month of December progresses steadily towards the end of the year, many CFEs around the world are busy focusing on end of the year activities and holiday preparations. With all of the hustle and bustle, it is easy to forget that CFEs have an important duty they must also complete before December 31: voting for the 2019-2020 Board of Regents.

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