A Ponzi Scheme is Just a Trusted Liar With a Bank Account

A Ponzi Scheme is Just a Trusted Liar With a Bank Account

Most people believe they could never fall victim to a Ponzi scheme. They assume they would be able to spot the fraud a mile away and be able to deflect it before they were in. As nice as it would be for that to be true, Diana Henriques, financial journalist and author of The Wizard of Lies warned conference attendees at the 2016 ACFE Fraud Conference Canada that Ponzi schemers can pull the wool over anyone’s eyes — even natural skeptics.

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'We All Have a Mission: Protect the Potential Victims of Fraud:' AMF Director Sets a Collaborative Tone at the Top

'We All Have a Mission: Protect the Potential Victims of Fraud:' AMF Director Sets a Collaborative Tone at the Top

According to Jean-François Fortin, the executive director of enforcement at the Autorité des marchés financiers (AMF), there are two ways that regulators can prevent and deter fraudsters. “First the certainty of being caught. And second, the certainty of punishment.” One way to confirm these certainties is through what he calls credible deterrence. Fortin spoke about a credible deterrence paper he helped to recently publish, as well as the AMF’s first whistleblower program and cyber intelligence unit, at the 2016 ACFE Fraud Conference Canada this week in Montréal. 

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Digital Investigative Safety: The New World of Fraud Examination

Digital Investigative Safety: The New World of Fraud Examination

Imagine you’re on assignment working a case and you’re spending a lot of time out of the office. You run into a café to grab a coffee and while there, you figure you’ll sit down to check some emails. You log on to the café’s free Wi-Fi and load up your account. Your phone pings you to say that you have an alert from your bank so you check that too. You might even log into Facebook or Twitter to see what’s going on in the world or with your friends and family. Nothing you’ve done in these 30 minutes has been secure.

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Asia-Pacific Conference Keynote Sees "Swing of the Pendulum" in Global Corruption

Asia-Pacific Conference Keynote Sees "Swing of the Pendulum" in Global Corruption

One of the keynote speakers for the 2016 ACFE Fraud Conference Asia-Pacific, Clare Rewcastle Brown, is all too familiar with the reach of global corruption. Rewcastle Brown is an investigative journalist who has begun a heated international dialogue by publishing accounts alleging corruption occurring in Malaysia.
"I think we're seeing a swing of the pendulum. I think that 1MDB has cropped up at perhaps the right place, the right time," she said. "This whole off-shore financial structure that's been allowed to grow ... the whole thing's got out of control and I think governments all over the world are starting to realize they've lost control."

 

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Quebec’s New Whistleblower Program to Build Trust and Transparency with Canadian Investors

Quebec’s New Whistleblower Program to Build Trust and Transparency with Canadian Investors

In late June, Québec’s financial market regulator, the Autorité des marchés financiers (AMF), launched its very first whistleblower program. According to Jean-François Fortin, the AMF’s executive director of enforcement, the program’s focus is two-fold: to generate more tips and to generate better tips. Fortin will be speaking about the new program, as well a cooperative governance model the AMF created, at the upcoming 2016 ACFE Fraud Conference Canada next month in Montréal.

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Fraud Report Released at Canada’s Largest Gathering of Anti-Fraud Professionals

Fraud Report Released at Canada’s Largest Gathering of Anti-Fraud Professionals

According to the Association of Certified Fraud Examiner’s latest report, Canadian fraudsters were more likely to receive no punishment from their employers than being asked to resign. More than 200 anti-fraud professionals will receive an early-access, exclusive look at this report during the 2016 ACFE Fraud Conference Canada, taking place in Montreal, September 11-14.

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Calling all Super Heroes: Register Today for the 2017 ACFE Global Fraud Conference

Calling all Super Heroes: Register Today for the 2017 ACFE Global Fraud Conference

"You serve. You protect. You prevent. You fight the worldwide war against fraud."

Those words were spoken by ACFE founder and Chairman Dr. Joseph T. Wells, CFE, CPA, at this past June's ACFE Global Fraud Conference during the opening video shown to attendees. While Dr. Wells used these words to describe the fraud fighters in attendance, the same words can be used to describe the more than 75,000 ACFE members all over the world who wake up every morning with the goal of making the world a better place. 

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