PPT-1 Overview of Risk and Fraud

There are 3 main areas for risk and fraud management Inproduct controls Fiservs monitoring FI Tools inside Compass Fiserv is the originator for all ACH transactions initiated in External Transfers and Popmoney. Recent cases. Madoff - $54bn (£38bn). Allen Stanford - $8bn (£5.6bn). Kazutsugi Nami, Japanese Ponzi scheme $2.5bn (£1.76bn). US Ponzi schemes . Nadel $300m. Schrenker . “Chicago suburban businessman ... Tens of millions of dollars”. Ryan Burnett. Caitlen. . Eibeck. Mike Davis. Acctg403-001. Pennsylvania state university. Professor . izzo. 3/1/2015. Greed and Pressure. Greed. Greed can be attributed to personal financial gain, attempts to conceal losses and/or poor job performance that could harm a person’s employment, and enhancing potential bonuses, among other factors.. Management . and the Profile. of a Fraudster. Business of Fraud. Fraud, corruption and unethical behaviour have become a reality in both the private and public sector. Hard . Facts. South Africa ranked . Keith Jacks Gamble. Department of Finance. Patricia Boyle. Lei Yu. David. Bennett. Acknowledgements. Sandell. Grant – Center for Retirement Research at Boston College. National Institute of Aging (grant R01-AG33678). . . Definition of Fraud. The . Institute of Internal Auditors’ IPPF defines . fraud . as:. . . . “. Any illegal act characterized by deceit, concealment, or violation of trust. These acts are not dependent upon the threat of violence or physical force. Frauds are perpetrated by parties and organizations to obtain money, property, or services; to avoid payment or loss of services; or to secure personal or business advantage.”. . Think Like a ‘Demon’ & Add IA Value. April 10, 2013. 2:30p – 3:30p. Mark P. Ruppert. . CPA, CIA, CISA, CHFP, CHC. Director, Internal Audit . (CAE). The Institute of Internal Auditor Los Angeles Chapter. Rodrigo . Macias, Senior Manager. March 11, 2015. Organizational Risk Assessment. and . Fraud Overview. Agenda. Introductions and Overview. Risk Assessment Process. Fraud . Overview. Fraud Triangle and Red Flags. Deterrence . Detection . and . Prevention. Presented by . . Ryan Schnobrich, Internal Auditor. A considerable amount of information in this presentation was provided by:. The Association . of Certified Fraud Examiners, . Managed Spend (Declining Balance Cards) . Payment Plus (Virtual Card Payments). Managed Spend (Declining Balance Card). Balance declines without refreshing each cycle. Same online visibility, access, and reporting. NIDHI RAO, CPA, CFE, CFF, CIA. OCTOBER 12, 2017. FRAUD DETECTION IS AS SIMPLE AS…. DISCUSSION THEMES. Tales. Risk Assessment. Cost. Fraud Myths. It couldn’t happen to us. . If something happened, it would be discovered quickly.. Joint Financial Management Improvement Program (JFMIP) Conference. May 9, 2016. Erin A. McLaughlin. Senior Analyst, Forensic . Audits and Investigative Service (FAIS. ). U.S. Government Accountability Office. Anti-Fraud Awareness. Audit and Risk Division. 14. th. September 2016. Outline. Definition of Fraud Risks. Role of Audit and Risk Function. The fraud triangle. Trends . within . NLC. NLC Fraud Prevention Policy and Strategy. September 17, 2015. Ad fraud is (at least) a $6billion per year problem.. 2. Not all of that money goes to the bad guys.. 3. But advertisers probably shouldn’t be sending a billion dollars a year to organized criminals. . Why a New Standard? . Provide CPAs with . Clarified and Focused Auditing Guidance . on . Fraud. Re-emphasize the role of . entity management . and boards . in preventing . and detecting fraud. This Presentation .