Fraud

Compliance departments already monitor emails for nefarious keywords, but expecting even the biggest compliance departments to monitor all communication in real time is arduous and nearly impossible using only human capital. Unless they’re using artificial intelligence.

Results from Kroll’s annual Global Fraud and Risk Report are in, and the findings show a significant rise in fraud and risk incidents over the past year. A staggering 88 percent of respondent U.S. companies reported cyberattacks in the past...

Failing to quash fraud schemes rampant in its organization and among its high-volume agents, Western Union is $770 million poorer this year. The organization’s prosecution sends an important message to financial service providers: when an organization facilitates criminal activity through...

Rolls-Royce Settlement Highlights Risks for Businesses Rolls-Royce recently completed a deferred prosecution agreement following a four-year investigation into bribery and corruption by the U.K. Serious Fraud Office. This is the largest ever enforcement action against a company for criminal conduct,...

How Companies Can Reduce Their Risk Exposure Fraud is a problem for companies of every size – one statistic states that it claims up to 10 percent of annual revenue. Some fraudulent activity comes from external sources, including cyber breaches...

Technological advancements have caused an increase in the number of opportunities to commit fraud – and they’ve created innovative new ways to perpetrate and hide it. As a result, there has been an uptick in reported incidents over the past...

Reputational harm can do as much damage to a company's bottom line as nearly any other crisis. A proactive plan is essential to protect the organization should it come under fire. Silicon Valley based Theranos has found this out the...

Construction is now underway on Azerbaijan's Southern Gas Corridor, and one of the primary entities behind the development has been under the microscope for alleged corruption and bribery in its dealings in the oil and gas industry in the region....

In recent years, the number of people and businesses falling victim to fraud has increased at an alarming rate. As technology continues to improve, fraudsters are finding new and creative methods to continue their work.

The difference between white collar and violent crime usually comes down to this: in most cases of violent crime, the actor’s state of mind is not at issue; the cases often center on whether the specific person charged was the...

Depending on a company’s ultimate objectives, having the correct balance within the control structure is the key to a successful internal fraud investigation.

Erick O. Bell, a Senior Manager at Deloitte Financial Advisory Services LLP, presents a detailed internal control checklist that outlines 5 anti-fraud strategies companies can use to deter, prevent, and detect fraud.