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

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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Key Findings from the 2018 Report to the Nations: Government Edition

Key Findings from the 2018 Report to the Nations: Government Edition

In April 2018, the ACFE released the 2018 Report to the Nations, which provided a global analysis of the costs and effects of occupational fraud (i.e., fraud committed against the organization by its own officers, directors, or employees). The report highlighted the tremendous impact occupational fraud has on organizations throughout the world. In a new sub-report, we now focus more closely on how occupational fraud impacts the government sector.

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Beyond Bitcoin: The Utility of Blockchain Technology

Beyond Bitcoin: The Utility of Blockchain Technology

One of the most exciting technological innovations to emerge from the development of cryptocurrencies is blockchain — or distributed ledger — technology. Blockchain is essentially a decentralized ledger or database maintained across a network of computers. Anyone with access to the network can view the database, which is updated across all connected devices, rather than being maintained at a central location.

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Sports Gambling Fraud Risks Will Require Creativity to Combat

Sports Gambling Fraud Risks Will Require Creativity to Combat

Following a Supreme Court decision on May 14 that will allow states to determine the legality of sports gambling within their jurisdictions, more questions than answers emerged about the ruling’s implications across the country. As individual states determine whether or how they will accommodate sports gambling, fraud risks related to the industry should be at or near the top of the list of considerations for all involved.

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