Fighting Fraud

  • ID: 1761509
  • Book
  • 360 Pages
  • Elsevier Science and Technology
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This practical reference provides the basics for instituting a corporate anti-fraud program that helps prepare corporate security professionals and other corporate managers for fighting corporate fraud from inside the company. Fighting Fraud provides an exceptional foundation for security professionals or business executives involved in developing and implementing a corporate anti-fraud program as part of a corporate assets protection program.

The author's intent is to provide the reader with a practitioner's guide (a "how-to” book), augmented by some background information to put it all in perspective. The approach used should enable the readers to immediately put in place a useful anti-fraud program under the leadership of the corporate security officer (CSO), or other corporate professional.

  • Shows professionals how to save their companies money
  • Provides a roadmap for developing an anti-fraud program
  • Allows security professionals to tailor their anti-fraud program to their own corporate environment
  • Explains how fraud is costing corporations a competitive edge in the global marketplace

Please Note: This is an On Demand product, delivery may take up to 11 working days after payment has been received.

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Preface

Acknowledgments


Introduction and Premise


Section I: An Introduction To The Wonderful World of Fraud


Chapter 1 The New-Old Global Business Environment


Introduction


Globalization of Business
Benefits to Nation-States


Expansions of the Global Marketplace and their Areas of Operations


Types of Corporations


Corporate Owners and Locations


Corporate Products


The High-Technology Factor


Nanotechnology1


High-Technology Related Frauds and Other Crimes


Advent of the Superhighways4


The Impact of Superhighways on Frauds and Other Crimes


A Short History of Crimes and Other Frauds Via the I-Way


Superhighway Frauds and Other Crimes to I-Way Robberies


I-Way Robbery
Its Prevalence


There Is No I-Way Patrol to Stop I-Way Robbers


Global Connectivity Via the I-Way = Global Exposure to


Attacks by Fraud-Threat Agents and Other Miscreants


Capabilities and Limitations of Law Enforcement


Challenges to Security Professionals and Others


Case Study 1


Case Study 2


Summary


Chapter 2 Corporate Assets, Frauds and Other Terms
What are They?


Introduction


Definition of General Fraud


Specific Fraud Definitions


Corporate Assets


Other Terms and Definitions


Case Study


Summary


Chapter 3 Fraud-Related Laws


Introduction


Some U.S. Federal Fraud-Related Laws


Relevant Consumer Protection Laws for Fraud in the United States


A Few Examples of U.S. Federal Enforcement of Fraud-Related Laws, Approach and Actions


Mail Fraud Statutes (condensed and paraphrased)


Money Laundering


Financial Institution Fraud (Bank Fraud)


Civil Litigation


U.S. Treasury Collection


Securities Violations


Role of Phone Companies


European Fraud-Related Laws


EU Fight Against Frauds


ASIA and Fighting Fraud


Case Study


"Blowing the Whistle" on Defrauders can be Dangerous


Summary


Chapter 4 Corporations Don't Commit Frauds, People Do


Introduction


Are Defrauders a Product of Their Environment, or is it in Their Genes?


Some Criminology Theories


Fraud-Threat Agents


Human Errors
Accidents


Man-Made or Malicious Fraud Threats


Potential Fraud-Threat Agents


Capabilities


Motivation


Access


Catalysts


Inhibitors


Amplifiers


Fraud-Related Factors for Attacking Systems


Relationship of Threat Elements


Case Study


Summary


Chapter 5 Fighting Fraud
Whose Job is it Anyway?


Introduction


Role of Executive Management


Role of Corporate Management


Role of the Corporate Employees


Role of the Ethics Director


Role of the Auditor


Role of the Fraud Examiner


Role of the Chief Security Officer (CSO)


Why the Corporate Security Professional?


Case Study


Summary


Chapter 6 Where There is a Will There is a Way
Fraud Schemes


Introduction


Types of Fraud Schemes


Financial


Credit Card Skimming


Mortgage Frauds


Computer and Telecommunications Frauds


ATM Frauds


Click Fraud


Clip-on Fraud


Securities Frauds


Employment Application Frauds


Identity Theft Scams


"Nigerian Scam"


Accounting Fraud Schemes


Bribery and Corruption


Conflicts of Interest


Purchasing
Four Basic Categories


Inventory17


Investments and Fixed Assets


Payroll and Personal Expenses


Procurement/Contracts


Telemarketing Fraud


Advance Fee Scheme


Common Health Insurance Frauds


Letter of Credit Fraud


Prime Bank Notes


The Ponzi Scheme


Pyramid Scheme


Case Study


Summary


Chapter 7 Fraud Cases and Commentary
Learning by Example


Introduction


Actual Fraud and Fraud-Related Cases


Phishers and Taxpayers


Fraud by Corporate Executives


Foreign Exchange Trading Fraud


Katrina Waste and Frauds


Organized Crime and Cybercrime


Securities Fraud in Cyberspace


Computer Hard Drives Lead to Frauds


Debt-Collecting Frauds


Government Contracting Fraud


Fraud-Threat Agents Can Be Anyone in Any Position


U.S. Securities and Exchange Commission (SEC) Fighting Fraud


Fraud in School Systems


Dead Soldiers and E-Mail Scams


Another Example of Insider Fraud


Executive Management and Accounting Fraud


Merchandise Receipt and Exchange Fraud


Click Frauds


Mortgage Fraud


Government Contractors and Fraud


Frauds and Microsoft Software


Y2K-Related Fraud


Data Storage Conducive to Fraud-Threat Agents


Another Example of Click Fraud


Pyramid Schemes Move on to the Internet


Prepaid Cellular Phone Fraud


Identifying International Corruption


Credit Card Information Theft and Frauds


Hackers, Crackers, Phishers, Oh My!


Urban Legends and Frauds


Medical Research Frauds


Corruption and the War in Iraq


Comments on Identity Thefts as a Vehicle to Fraud


Lobbyists and Corruption


Internet Scams are International


Faking a Medical Condition


Internet Fraud Sweep


ATM Fraud


Social Security Scam


Stamp Fraud


Banker and Identity Theft


Accounting Firm Fraud


Lawyers and Medical Rip-offs


Another Mention of the "Nigerian" Scams
Variations on a Theme


Case Study


Summary


Section II: Establishing and Managing an Anti-Fraud Program


Chapter 8 The International Widget Corporation


Introduction


IWC Background Information


Key Elements for the CSO to Consider


Getting to Know IWC


IWC's Business Plan


Strategic Business Plan


Tactical Business Plan


IWC's Annual Business Plan


IWC and the History of Its CSO


Key Elements of IWC's Annual Business Plan


Anti-Fraud Program Planning


IWC's Departments of Primary Importance to the CSO


IWC Vision, Mission, and Quality Statements


Plans


Other IWC Plans and CSO Support


Case Study


Summary


Chapter 9 Establishing an Anti-Fraud Program


Introduction


IWC's Anti-Fraud Program


Anti-Fraud Program Project Planning


IWC Anti-Fraud Program Project Planning and Management


Anti-Fraud Program Project Team


Anti-Fraud Drivers
The First Major Task in Anti-Fraud Program Development


IWC Anti-Fraud Program Requirements
Policies96


Risk Assessment
The Second Major Task in Developing an Anti-Fraud Program


Basics of IWC's Risk Assessment Process97


Threats


Natural Threats


Man-Made Threats


Vulnerabilities


Risks


Assets Protection Risk Assessments


Assets Protection Risk Analyses


Developing Anti-Fraud Defenses


Three Key Ingredients in an Anti-Fraud Program's Defenses


IWC's Anti-Fraud Policies


Anti-Fraud Requirements and Policy Directive


Anti-Fraud Procedures


The CSO and Security Department's Anti-Fraud Accountabilities


Off-Site Corporate Facilities


Recruiting Anti-Fraud Professionals


Case Study


Summary


Chapter 10 Managing an Anti-Fraud Program


Introduction


CSO Leadership


Management versus Leadership


Meeting Customers' Expectations


IWC Internal Customers


IWC External Customers


IWC Executive Management Expectations of a CSO


Managing Risk


Security's Vision, Mission, and Quality Statements


Managing the IWC Anti-Fraud Program


Planning


Some Aspects to Incorporate into an Anti-Fraud Program Plan


Budgeting


Controlling


Quality, Process Improvement, and Assessment of Organization Performance


Process Management


Performance Management


Using Technology to Deliver Anti-Fraud Program Support and Services


Managing Quality and Management Oversight


What is Risk Management As It Relates to IWC's Anti-Fraud Program?


Managing and Reducing Risks to Corporate Assets


Program for Managing Anti-Fraud Defensive Risks


Responding to Fraud Incidents


Managing Fraud Threats


Case Study


Summary


Chapter 11 Winning through Teaming


Introduction


Anti-Fraud Program Team Building


Executive Management as Team Members


Teaming with IWC Executive Management Through a Business Approach


Teaming with Corporate Peers


Teaming and Dealing with Office Politics


Teaming with Your Security Managers


Teaming with Your Security Staff


Teaming and Dealing with Satellite Offices in IWC Headquarters in the United States


Teaming and Dealing with Satellite Offices in Foreign Lands


Case Study


Summary


Chapter 12 Anti-Fraud Functions


Introduction


Anti-Fraud Project Team Functional Tasks


Anti-Fraud Functions


Anti-Fraud Program's Non-Security Team Functions and Members


Case Study


Summary


Chapter 13 Are We Winning the Battle? How Do We Know?


Measure it!


Introduction


Measuring an Anti-Fraud Program's Costs, Benefits,


Successes, and Failures


Common LOE Measurement Techniques for Each Function


Examples of Metrics by Function


Investigations and NCIS Metric Chares


Examples of Anti-Fraud Investigations Metrics


Process Measurements


Case Study


Summary


Section III: The Fraudulent Future


Chapter 14 What Will the Fraudulent Future Hold for Corporations?


Introduction


Globalization of Business to Continue


Employees of the Future


The Future Global Corporation


Future of Fraud Attacks on Corporations


Future Anti-Fraud Protection Needs of Corporations


Case Study


Summary


Chapter 15 The Impact of High Technology on Fraud


Introduction


High-Technology Frauds


High-Technology Anti-Fraud Defenses


Case Study


Summary


Chapter 16 What the Security and Other Anti-Fraud Professionals Must Do Now to Personally Prepare to Combat Tomorrow's Frauds


Introduction


Becoming and Staying Proactive and Aggressive in Fighting Fraud


Getting a Fraud Education


Gaining Fraud-Related Certifications


Associations


Gaining Anti-Fraud Experience


To Conduct or not to Conduct Fraud Lectures and Write Fraud Articles


Case Study


Summary


Chapter 17 Summary and Final Thoughts


Introduction


Summary


Final Thoughts


hat Others Think About the Anti-Fraud Leadership


Position in a Corporation


Toby J. F. Bishop, CFE, CPA, FCA, President and Chief


Executive Office, Association of Certified Fraud Examiners


World Headquarters


In Conclusion-My Thoughts


Some References


End of Line


About the Author


Index


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Kovacich, Gerald L.
Dr. Gerald L. Kovacich has more than 40 years of experience in industrial, business and government security, investigations, information systems security, and information warfare, both in the U.S. Government as a special agent, in international corporations, and subsequently as an international consultant and lecturer. He retired as the Information Warfare Technologist, Northrop Grumman Corporation to pursue a career as an international consultant, lecturer and writer.
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