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International Fraud Awareness Week 2021 is now coming to a close and we at the ACFE want to thank everyone who signed up as an official supporter. Supporting organizations from 112 countries around the world took the time this week to raise fraud awareness and share anti-fraud education with people in their communities and workplaces.We saw so many creative virtual events put on by supporters this year. Law enforcement and governmental bodies took special initiative to inform members of their communities about fraud. Some of these included:Tan Sri Azam Baki, the Chief Commissioner of the Malaysian Anti-Corruption Commission gave a keynote address at Kenanga Investment Bank Berhad’s virtual opening ceremony.The Ohio Department of Commerce issued a press release and shared hotline information with Ohioans.The National Aeronautics and Space Administration (NASA),…

GUEST BLOGGERBy Martina KingCEO, Featurespace Fraud is nothing new. In fact, fraud has been with us from as far back as 300 B.C. when Hegestratos, a Greek sea merchant tried to sink his empty ship and claim back the nonexistent cargo of corn. Unlike many fraudsters however, Hegestratos’ plan backfired, and he came to a watery end.Today things are very different. In our increasingly digital world, sophisticated criminal activity is taking advantage of individual and organizational vulnerabilities on an industrial scale. In the ACFE and Grant Thornton’s latest report, The Next Normal: Preparing for a Post-Pandemic Fraud Landscape, 51% of organizations have uncovered more fraud since the onset of the pandemic and 71% of respondents expect payment fraud to increase in the next year. Weaknesses in our global financial infrastructure and…

In this special episode released during International Fraud Awareness Week, Chris Ekimoff, CFE, CPA/CFF, director of financial investigations and dispute services at RSM and co-host of the inSecurities podcast, and Mandy Moody, CFE, ACFE communications manager, discuss the latest and greatest highlights from the trial of former Theranos CEO Elizabeth Holmes. Chris and Mandy provide background and analysis on the many facets of the Theranos tale, review the implications of the previously-settled matter with the SEC in 2017 and discuss common issues with the legal system regarding allegations of fraud.In the excerpt below from episode 114, Chris and Mandy touch on affinity fraud, and how Theranos benefited from their wonderkid image. Download the full transcript in PDF form or listen to the episode at the bottom of this post.Mandy: Yes,…