Anti-Fraud Association CEO: The Business Roundtable’s Statement in Line With Fraud Prevention

Anti-Fraud Association CEO: The Business Roundtable’s Statement in Line With Fraud Prevention

Leaders of some of the largest companies in the U.S. made a surprising announcement when they redefined a corporation’s purpose as not solely providing profit for shareholders. The Business Roundtable, a group of nearly 200 members include the CEOs of companies such as Amazon, Coca-Cola, Deloitte and Nasdaq, released a statement asserting that corporations should be committed to the needs and well-being of all of their stakeholders — including employees, customers, their local community and suppliers —  as opposed to just their shareholders. This statement of purpose marks a departure from the commonly accepted business philosophy that the sole obligation of business is to increase profits in order to maximize value for shareholders.  

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The ACFE's Code of Professional Ethics

The ACFE's Code of Professional Ethics

On the CFE Exam there are a few questions about the ACFE Code of Professional Ethics. The good news is that most of these questions are very straightforward and shouldn’t give you any trouble. Things like “don’t violate the law” or “don’t engage in conflicts of interest” are pretty self-explanatory. But there are two areas that I have found sometimes cause people a little confusion.

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DNA Test Kits Reveal Decades-Long Fertility Fraud

DNA Test Kits Reveal Decades-Long Fertility Fraud

Matt 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.

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DOJ Issues New Guidance for Corporate Compliance Programs

DOJ Issues New Guidance for Corporate Compliance Programs

In April 2019, the U.S. Department of Justice (DOJ) issued new guidance designed to assist federal prosecutors in evaluating corporate compliance programs. In criminal cases, prosecutors will use the new guidance to determine whether a company’s compliance program was adequate and effective. This determination is important because companies can receive more lenient treatment if they had an effective compliance program in place at the time of the offense.

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NASA Falls Victim to a 19-Year Fraud Scheme

NASA Falls Victim to a 19-Year Fraud Scheme

In 2009, NASA’s Orbiting Carbon Observatory mission failed after the satellite couldn’t reach its intended orbit because the structure that encapsulates the satellite during launch refused to separate from the vessel upon command. The same malfunction occurred in 2011, when NASA’s Glory mission satellite was destroyed in the atmosphere after its shell did not open fully. After years of technical and mechanical investigations, NASA Launch Services Program announced on April 30 that they had located the root cause of the mission failures: faulty metals sold to NASA by Sapa Profiles Inc., an aluminum manufacturing company based in Oregon.

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