Fraud Fads
This scam Exploits Online Shoppers by sending unsolicited messages claiming to be from legitimate shipping companies
What are Package Delivery Scams
This type of Occupational Fraud involves employees stealing cash, merchandise or supplies from their employers
What is asset Misappropriation
THIS CYBER-ATTACK LOCKS UP A VICTIM’S COMPUTER OR DATA UNTIL A FINANCIAL RANSOM IS PAID TO THE ATTACKER
What is Ransomware
THIS COMPANY, WHICH DECLARED BANKRUPTCY IN 2001, BECAME INFAMOUS FOR HIDING BILLIONS OF DOLLARS IN DEBT THROUGH ACCOUNTING LOOPHOLES, LEADING TO ONE OF THE LARGEST CORPORATE SCANDALS IN U.S. HISTORY
What is Enron
THIS BEHAVIORAL RED FLAG HAS CONSISTENTLY BEEN THE MOST COMMON SIGN OF FRAUD, OFTEN INVOLVING PERPETRATORS DISPLAYING SIGNS OF WEALTH THAT FAR EXCEED THEIR INCOME.
What is Living beyond means?
THIS STANDARD PROCESS ENSURES THAT FINANCIAL STATEMENTS ACCURATELY REFLECT A COMPANY’S TRANSACTIONS AND IDENTIFIES DISCREPANCIES EARLY
What are Internal Controls
Fraudsters are creating fake identities by combining real and fabricated data in this fast going trend
What is Synthetic Identity fraud
An employee that falsifies their timesheets to claim payment for hours they did not work in this classic type of occupational fraud
What is Time Theft
SCAMMERS USE FAKE WEBSITES TO STEAL PERSONAL DATA FROM INDIVIDUALS BY PRETENDING TO BE LEGITIMATE BUSINESSES IN THIS COMMON CYBERCRIME SCHEME
What is Phishing
HE WAS BEHIND THE 2008 PONZI SCHEME THAT COST INVESTORS MORE THAN $65 BILLION
Who was Bernie Madoff
OBSERVED IN 27% OF FRAUD CASES IN THE 2024 REPORT TO THE NATIONS, THIS RED FLAG MANIFESTS IN INDIVIDUALS STRUGGLING TO MEET THEIR FISCAL OBLIGATIONS.
What are Financial Difficulties
IF OUR ORGANIZATION PERFORMS THIS EXTRA LEVEL OF BACKGROUND INVESTIGATION BEFORE ENTERING INTO A BUSINESS AGREEMENT, WILL IT PREVENT POTENTIAL FRAUD?” IS AN EXAMPLE OF THIS PREVENTIVE PRACTICE.
What is Due Diligence?
This Trend involves fraudsters using real video or audio recordings, often of celebrities, to create fake but realistic media clips for illicit gain
What is Deepfake Fraud
This scheme involves an employee inflating the cost of goods or services and receiving a portion of the overcharge in return for their involvement
what are kickback schemes
AN ONLINE OFFER PROMISES HIGH RETURN ON NEW CRYPTOCURRENCY. AFTER BUYING IN, INVESTORS REALIZE THIS SCHEME WAS ORCHESTRATED BY FRAUDSTERS WHO ARTIFICIALLY INFLATED THE VALUE BEFORE CASHING OUT.
What are Pump and Dump Schemes
VOLKSWAGEN WAS FOUND TO HAVE INSTALLED SOFTWARE THAT MANIPULATED EMISSIONS TESTS IN A WIDELY PUBLICIZED CORPORATE FRAUD SCANDAL KNOWN BY THIS NICKNAME
What is DieselGate?
FRAUD PERPETRATORS EXHIBIT THIS RED FLAG WHEN THEY REFUSE TO DELEGATE TASKS OR LET OTHERS REVIEW THEIR WORK.
What are excessive control issues or unwillingness to share duties
IDENTIFYING AND MITIGATING POTENTIAL VULNERABILITIES IN A BUSINESS’S OPERATIONS IS THE KEY GOAL OF THIS PREVENTIVE PRACTICE.
What is a Risk Assessment
This scam involves building trust with victims online before stealing their funds through fake cryptocurrency investments
What is a Pig Butchering Scam
Perpetrators of the scheme often involving intentional misstatements in accounting records, often face excessive pressure from their organization to perform at a high level
What is Financial Statement Fraud
THIS FRAUDULENT TACTIC, INVOLVING HIJACKING PHONE NUMBERS TO ACCESS DIGITAL WALLETS, IS EXPECTED TO RISE ALONGSIDE THE RESURGENCE OF CRYPTOCURRENCY
THIS TELECOMMUNICATIONS COMPANY MANIPULATED ITS EARNINGS TO HIDE BILLIONS IN DEBT, LEADING TO BANKRUPTCY AND ONE OF THE LARGEST ACCOUNTING FRAUD CASES IN HISTORY.
What is Worldcom?
PERPETRATORS EXHIBITING THIS RED FLAG TEND TO OPERATE WITH A CUNNING AND OPPORTUNISTIC MINDSET, OFTEN ENGAGING IN RISKY OR UNETHICAL BUSINESS TACTICS
What is a Wheeler Dealer attitude
ACCORDING TO THE 2024 ANTI-FRAUD TECHNOLOGY BENCHMARKING REPORT, 83% OF ANTI-FRAUD PROFESSIONALS ANTICIPATE INTEGRATING THIS EVOLVING TECHNOLOGY INTO THEIR FRAUD PREVENTION STRATEGIES BY 2026
What is Generative AI?
Fraudsters impersonate a Trusted Figure to obtain sensitive information or money, often using spoofed email addresses or phone numbers, in this scheme
What is Social Engineering
According to the 2024 report, to the nations 57% of victim organizations recovered this amount of fraud loss
What is Nothing
WITH BITCOIN’S VALUE CONTINUING TO GROW OVER TIME, THIS ONLINE LEDGER SYSTEM IS NOW A MAJOR TARGET FOR HACKERS AND FRAUDSTERS
What is Decentralized Finance (DEFI)
AN EXECUTIVE WONDERS, “IF I OPEN FAKE ACCOUNTS IN MY CUSTOMERS’ NAMES, WILL THE BONUSES BE WORTH THE RISK OF GETTING CAUGHT?” THIS ETHICAL DILEMMA WAS AT THE HEART OF WHAT COMPANY’S SCANDAL UNCOVERED IN 2016?
WHAT IS WELLS FARGO?
AN EMPLOYEE EXHIBITS THIS RED FLAG BY TAKING VACATIONS WITH A THIRD-PARTY ACCOUNT EXECUTIVE WHO WORKS WITH THEIR EMPLOYER
What is an unusually close relationship with a vendor?
THIS CUTTING-EDGE TECHNOLOGY IS HELPING ORGANIZATIONS DETECT FRAUD BY ANALYZING LARGE AMOUNTS OF DATA TO IDENTIFY PATTERNS AND ANOMALIES.
What is Machine Learning