Fraud Archives - Corporate Compliance Insights

businessman using fraud prevention technology

Monitoring Patterns of Behavior to Fight Fraud and Mitigate Risk

Posted by Satish Lalchand - January 10, 2019

4 Common Ways Companies Miss the Mark Organizations of all sizes and industries continue to assume the risk of reputational damage, following the suspicion or revelation of fraud. The signals of fraud risks can be faint, but effectively sensing and acting on them is essential. Deloitte’s Satish Lalchand and Martin…

The Growing Problem of Corporate Fraud

Posted by Michael Volkov - December 20, 2018

And Striking the Right Balance to Fight It The reality is that the vast majority of corporations have a fraud problem to some degree. It’s a growing problem – one indicator pointing to a rise in overall economic crime globally. Michael Volkov outlines various methods to detect and prevent fraud…

electronic money counter with 100 dollar bills

2019: Will Money Launderers Meet Their Match?

Posted by Alexon Bell - December 19, 2018

The Outlook for AML in the Year Ahead 2018 proved to be a challenging year in the fight against money laundering. Criminals continued to come up with schemes to hide and cash out on their dirty money. With new legislation and technology to help uncover these schemes, will money launderers…

Financial Crime: More Than a Language of Its Own

Posted by Juan Diego Martin - November 30, 2018

Taking a Robust Approach to Stamp Out Trader Fraud The globalization of financial institutions has come with an increasingly fragmented communications landscape. Traders in Hong Kong, for instance, communicate very differently from those in New York, using different mediums and jargon. This means there is a growing number of options…

red landline phone hanging on dark background

Keeping Your Whistleblower Hotline Alive

Posted by Ron Kral - November 16, 2018

Ideas to Maximize Hotline Effectiveness It could be a good sign if the phones aren’t ringing at your organization’s hotline – or it could be indicative of a failing ethics and compliance program. Ron Kral discusses how to maintain a successful hotline program. Is your whistleblower hotline alive or dying…

Private Equity in DOJ’s Line of Fire

Posted by Lorinda Holloway - November 14, 2018

Liability Under the False Claims Act The government can be slow, but it catches up. The DOJ and whistleblowers have recently targeted private equity firms and individuals in False Claims Act cases based on officer and director roles and/or involvement in management. Because the foundations of health care compliance and…

Old AML Systems Hinder The Fight Against Financial Crime

Posted by Imam Hoque - October 26, 2018

Steps Companies Can Take to Improve Compliance and Reduce Risk Every year, billions of laundered dollars are moving through financial institutions without detection. Current detection systems aren’t keeping pace with criminals’ ability to outmaneuver them. Financial crime is a complex issue for financial institutions to tackle but AI is offering…

illustration: man in suit walking into large spider web

Employee Fraud Investigation Costs Non-Recoverable Under MVRA

Posted by Frank Schall - September 10, 2018

Supreme Court Decision Restricts Recompense A recent Supreme Court ruling – in which the Mandatory Victims Restitution Act of 1996 was central – should put corporate victims of fraud on alert. Moore & Van Allen Partner Frank Schall discusses the decision and how it will impact those who fall prey…

spoofed bank URL with bank robber behind laptop

Automation and Analytics Creating Value for Fraud Management

Posted by Ajay Katara - August 15, 2018

The New Solutions for Financial Crimes Compliance Management (FCCM) The methods for perpetrating fraud are continually evolving, so an effective approach for fighting fraud must change with the times. Ajay Katara discusses further why banks must adopt newer technologies to prevent and detect financial crimes. With the dawn of the…

yellow crime scene tape across laptop keyboard

8 Ideas to Reduce False Positives in Fraud Investigations

Posted by Satish Lalchand - August 9, 2018

Steps to Improve Forensic Analytics Thanks to advances in forensic analytics, we can spot emerging risks long before they come to fruition. But predictions frequently lead to false positives. Satish Lalchand discusses how to prevent them in this third installment of a series on the future of forensics, following articles…

The Shoe Drops on Theranos’ Former CEO and COO

Posted by Michael Volkov - June 20, 2018

Criminal Indictment Filed Charging Fraud The fallout continues for Elizabeth Holmes and Sunny Balwani, respectively the CEO and COO of Theranos. The pair were charged with fraud by the SEC and were indicted last week on wire fraud and conspiracy charges. Michael Volkov reviews the cautionary tale of Theranos, outlining…

Artifical intelligence: robot hand and human hand

How Mature Is Your Organization’s Approach to Forensic Investigations?

Posted by Satish Lalchand - June 12, 2018

Leading organizations are increasingly integrating human and machine intelligence for forensic investigations. By combining technological analysis—including artificial intelligence (AI), machine learning and statistical concepts of cognitive analytics—with deep investigator understanding of fraudster motives and methods, many are identifying, investigating and thwarting fraud schemes more effectively and efficiently than ever before. …