Fraud Prevention and Detection: Warning Signs and the Red by Rodney T. Stamler, Hans J. Marschdorf, Mario Possamai

By Rodney T. Stamler, Hans J. Marschdorf, Mario Possamai

Lessons might be discovered from significant fraud circumstances. even if the sufferer is a corporation, public enterprise, nonprofit, origin, or charity, there's a excessive probability that a lot of those frauds might have been avoided or detected if early crimson Flag symptoms have been pointed out and acted upon. Fraud Prevention and Detection: indications and the pink Flag procedure will allow officials and administrators, inner and exterior stakeholders, in addition to outdoor analysts to guard themselves and their corporations opposed to fraud by way of successfully detecting, studying, and performing on early pink Flag indications. in response to an empirically verified procedure, the pink Flag method displays the authors’ greater than a hundred years mixed adventure within the research of fraud in high-profile, international situations in North the US, Africa, Europe, and the some distance East.

Readers of this e-book will:

  • Acquire a basic knowledge of the character, features, and dynamics of fraud
  • Understand the method for settling on even if a fraud has been committed
  • Develop an figuring out of firm threat administration ways for fraud probability administration, compliance threat administration, and coping with the chance of fraudulent monetary reporting―including an knowing of the restrictions inherent in those approaches
  • Learn how to define pink Flag signs of fraud or suspicious transactions in monetary statements, budgets, and contracts
  • Know tips to make sure that, as soon as a purple Flag has been pointed out, applicable motion is taken

Fraud may end up in major monetary loss in addition to undesirable press and exposure with major reputational impression for officials, administrators, organizations, and their stakeholders. This book’s no-nonsense procedure empowers these charged with preserving organisations to forestall those frauds ahead of the organization’s livelihood is jeopardized or to mitigate harm while fraud has occurred.

Show description

Read Online or Download Fraud Prevention and Detection: Warning Signs and the Red Flag System PDF

Similar forensic science books

Understanding Forensic Digital Imaging

Figuring out Forensic electronic Imaging deals the foundations of forensic electronic imaging and images in a fashion that's easy and simple to digest for the pro and pupil. It presents details on how you can photo any surroundings which may have forensic worth, info how one can stick with practices which are applicable in courtroom, and recommends what number of and software program are most useful to a practitioner.

Cargo Crime: Security and Theft Prevention

Shipment crime―including robbery, fraud, and the passage of contraband via advertisement transport lanes―poses an incredible probability to safeguard and the economic system. by means of realizing the present equipment and operations of these who assault the availability chain, pros can layout potent defense plans and legislations enforcement can thoroughly examine those crimes.

Fundamentals of Fingerprint Analysis (Volume 2)

The "CSI impression" has introduced an explosion of curiosity within the forensic sciences, resulting in the improvement of recent courses in universities the world over. whereas dozens texts at the technological know-how of fingerprint research can be found, few are designed particularly for college students. a necessary studying instrument for sessions in fingerprinting and influence proof, basics of Fingerprint research takes scholars from an figuring out of the old history of fingerprint facts to seeing the way it performs out in a present-day court docket.

Risk Analysis and Security Countermeasure Selection, Second Edition

This re-creation of probability research and protection Countermeasure choice offers up-to-date case experiences and introduces present and new methodologies and applied sciences for addressing current and destiny threats. It covers danger research methodologies authorized via the U. S. division of fatherland safety and exhibits how you can follow them to different corporations, private and non-private.

Additional info for Fraud Prevention and Detection: Warning Signs and the Red Flag System

Sample text

The issues may be too complex for internal auditors or investigators. The issues may be so troubling that—to maintain the entity’s reputation and that of its board—they are best dealt with by someone who is fully independent, has no prior relationship with the entity, and can follow the facts wherever they may lead. Independent outside investigators are likely the best course of action, for example, if the case involves a senior manager who has overridden internal controls. ” 34 The Red Flag System Phase 4—Formal Reporting/­Referral In this phase, the results of the in-­depth examination are referred for administrative, judicial, or other external remedial action.

For the informed director, looking for these indicators is not a complicated procedure as long as he or she can focus on the key issues and ask the right questions. Screening for Red Flags is like looking for a gold nugget in a pan full of gravel: You have to know what a gold nugget looks like and be able to distinguish it from all the other rocks in the pan. In addition to the manual screening, recent years have seen the emergence of fraud analytical software that uses complex algorithms and social network analytical tools to identify Red Flags.

Finding them requires experience, judgment, and intuition. Because a Red Flag is a signal that something is different from what is expected as to time, place, personality, or amount, the difference does not necessarily have to be large or significant. An accumulation of small differences is often the very essence of a sophisticated large fraud. A simple example is the case of a bank employee who arranges for a fraction of one cent to be deducted from all accounts and transactions and deposited into his or her personal bank account.

Download PDF sample

Rated 4.72 of 5 – based on 35 votes