Fraud
Fraud refers to dishonest and illegal activities by people or companies with the intent of gain, either financial or otherwise. The following fraud reports, fraud news and articles about fraud look at the day-to-day challenges of preventing, identifying and mitigating fraud.
When Corruption Investigations Run Cold, AI Pattern Analysis Can Revive the Case
Automated analysis of big data and new sentiment processing are opening doors for fraud investigators to home in on wrongdoing faster and with more discretion. Though still not a silver bullet, these pattern identification techniques have brought investigation techniques to...
The False Claims Amendment Act of 2021 – A New Paradigm in Contracting with the Government?
The Escobar decision paved the way for a potential loophole in the False Claims Act that U.S. senators aim to close. If passed, the False Claims Amendments Act of 2021 will fundamentally shift the regulatory landscape for businesses that contract...
A New Generation of Fraud Actors Cut Their Teeth During COVID-19. Businesses Need to Act Now to Get a Step Ahead.
Fraud thrives in chaos. The past 18 months revealed new opportunities on massive scales for fraud actors to take advantage of unsuspecting people and businesses. Successful criminal operators will only continue to refine their skills.
DOJ Is Getting More Imaginative with False Claims Act Enforcement and Hitting a Growing Range of Organizations
The DOJ began casting a wider net for False Claims Act enforcement years before the pandemic broke out. Now with large-scale suspected EIDL and PPP fraud, companies need to double- and triple-check the accuracy of their applications or face the...
The Trump Administration Allowed an Estimated $84B in EIDL and PPP Fraud. Now Congress Is Revamping Oversight.
The Biden administration, in a March memo, estimated EIDL and PPP fraud has totaled $84 billion to date. Numerous federal entities and civil servants have been empowered to investigate. Organizations should expect an increase in enforcement and prepare accordingly. On...
Justice Department Takes Action Against COVID-19 Fraud
Historic level of enforcement action during national health emergency continues March 26, 2021 – The Department of Justice announced an update today on criminal and civil enforcement efforts to combat COVID-19 related fraud, including schemes targeting the Paycheck Protection Program...
Boeing Fraud Enforcement Action
One of the top corporate scandals over the past few years entered its next phase with the settlement by the DOJ with Boeing around its fraud in the certification of its 737 MAX aircraft. Tom Fox offers background (including the...
How WFH Will Accelerate Financial Misconduct
Behavox CEO Erkin Adylov discusses the serious reputational and monetary consequences financial firms face as a result of today’s remote working environment. The threat of employee misconduct has pushed corporate risk to new heights. Cast your minds back to the...
The Best Questions to Ask During a Fraud Interview
The majority of fraud examiners expect to see a significant uptick in fraud over the coming year, which means fraud interviews will be on the rise as well. In recognition of International Fraud Awareness Week, The Bonadio Group’s Tim Ball...
Airline Services Limited Fined $2.9M by Serious Fraud Office For Failure to Prevent Bribery
Obvious conflicts of interest and a pattern of corrupt bidding practices led to penalties announced today by the Royal Court of Justice. Sofia El Mansouri, reporting for CCI, outlines the issues and offers takeaways for today's compliance professionals. The U.K....
Using AI and ML to Detect Corruption and Fraud Schemes
In the context of the pandemic and its associated challenges, the assurance functions have become more than a little challenging. Experts in investigations, data science, and applied AI provide a practical approach to support day-to-day compliance. Each crisis brings profound...
The Evolving Risk of Fraud in the Wake of COVID-19
Baker Donelson’s Ivan Boatner and Robert Hauberg discuss how the current workplace realities (remote workers, social distancing, limited travel, new technologies, etc.) have affected internal investigations. Earlier this summer, the Department of Justice (DOJ) updated its “Evaluation of Corporate Compliance Programs”...
