From the President: Moxie and the Fight Against Corruption

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From the President: Moxie and the Fight Against Corruption

Our profession requires plenty of insight and knowledge to understand the fraud landscape. But it also takes a good measure of moxie. Thulisile “Thuli” Madonsela is one of those unique people who possesses that know-how and fortitude — at an extraordinary level.

Her hard-fought battles against corruption at the highest levels of the South African government only prove this. The ACFE honored that strength in June when we presented Madonsela with the Cressey Award for a lifetime of achievement in the detection and deterrence of fraud.

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From the President: Stronger Together

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From the President: Stronger Together

What you do matters. Over the last year, we’ve seen your impact in powerful and unique ways. In the face of uncertainty, new challenges and evolving risks, you responded quickly and innovatively, reflecting and reimagining at every step. Many of you shifted your teams, your investigations and your anti-fraud programs to a remote approach on a moment’s notice. Some of you were challenged to do more with less, and to effectively prevent and detect fraud, even in the face of budget cuts and staff reductions. You found creative ways to move your engagements forward when the usual approaches were not an option.

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From the President: Number-Pattern Tests, Like Benford’s Law, Are Still Valuable

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From the President: Number-Pattern Tests, Like Benford’s Law, Are Still Valuable

We’ve all been there in a fraud examination. You’re looking at financial statements, invoice amounts or expense reimbursements that appear normal, but you know in your gut that something is wrong. The numbers just don’t feel right, but it’s not obvious. Like Alice going down a rabbit hole, you’re becoming “curiouser and curiouser” about what you’re inspecting.

In the latest issue of Fraud Magazine, Mark Nigrini, Ph.D., a leading Benford’s Law expert, writes the excellent, detailed cover article on six typical number patterns (including Benford’s) that you can search for during your cases to possibly find fraud.

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From the President: Peña and Murphy Challenge Us to Rise Up in Our Battles

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From the President: Peña and Murphy Challenge Us to Rise Up in Our Battles

As I listened to the stories of former U.S. Drug Enforcement Administration agents, Javier Peña and Steve Murphy — the inspirations behind the Netflix series “Narcos” — during the 31st Annual ACFE Global Fraud Conference in June, I sensed their passion for catching Pablo Escobar and other drug traffickers. Despite enduring constant danger and peril, they seized the mission to disrupt the narcotics trade in Colombia.

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Better Understanding Fraudsters' Justifications

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Better Understanding Fraudsters' Justifications

One of the greatest challenges in our field is to think like the fraudsters we’re trying to stop. It’s not easy for CFEs to live inside crooks’ minds, but it’s important to put on those “glasses” and try to see our organizations from the fraudster’s mindset.

Bret Hood, CFE, in his Fraud Magazine cover article, “Twisted rationalization,” which examines this third leg of the Fraud Triangle, encourages fraud examiners to address this component more thoroughly in their fraud risk management programs.

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