Roadblocks in Exercising Professional Skepticism

Roadblocks in Exercising Professional Skepticism

As an anti-fraud professional, may consider yourself a natural born skeptic. Your job requires questioning all that is presented to you. While others may prefer to take things at face value, you are trained to dig deeper and ferret out important information. But if that doubting nature should be common sense in the course of an investigation, why is professional skepticism included as a requirement in auditing standards?

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Air Force Secretary Scams Government Out of $1.4 Million Using Simple Fraud Method

Air Force Secretary Scams Government Out of $1.4 Million Using Simple Fraud Method

Michelle Holt sent shock waves through a Virginia courtroom in December when, immediately after pleading guilty to scamming the federal government out of $1.4 million, she walked over and hugged the federal prosecutor who had just filed computer fraud and theft of government property charges against her. In a sensational case that has left many people stunned, Holt was found to have bolstered her paychecks with false overtime, holiday and sick pay over a period of 17 years while working for the United States Air Force.

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How Artificial Intelligence Uncovered Evidence of Fraud

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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A Framework for Effective Fraud Risk Management

A Framework for Effective Fraud Risk Management

There are now more reasons than ever to implement an effective fraud risk management framework for personnel in your organization. The focus on individual responsibility has dramatically altered and employees should now be educated as to the risks and repercussions, especially in the U.S. As a result of the memorandum titled “Individual Accountability for Corporate Wrongdoing” issued by former U.S. Deputy Attorney General (DAG) Sally Yates on September 9, 2015 — even those who merely had knowledge that something wrong was happening but didn’t report it would potentially face penalties.

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