Strategies for Preventing Bias and Improving Investigations

Strategies for Preventing Bias and Improving Investigations

Investigators are called to uphold standards of integrity and honor. However, as Natalie Lewis, CFE, CPA/CFF, stated during her morning session titled “Recognizing the Impact of Bias and Emotional Intelligence in Investigations” on the final day of the 35th Annual ACFE Global Fraud Conference, “Bias can harm our judgment and skew our objectivity.” Lewis then walked conference attendees through different types of biases that affect investigations and discussed strategies for preventing bias and building emotional intelligence and social skills to improve investigations. 

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Recognizing Cognitive Biases Improves Investigations

Recognizing Cognitive Biases Improves Investigations

Everyone is affected by cognitive biases. As Beth Mohr, CFE, explained during her early morning session on the second day of the 35th Annual ACFE Global Fraud Conference, our brains are always thinking, and we are limited in what we can take in. We create mental shortcuts, called heuristics, but sometimes this can lead to systemic errors in thinking, or biases. 

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The Traceability of Bitcoin’s Unspent Transaction Output System 

The Traceability of Bitcoin’s Unspent Transaction Output System 

During the 35th Annual ACFE Global Fraud Conference, Sean Tweed, CFE, gave fraud investigators an overview of Bitcoin and how it can be used to trace funds across different addresses in his session titled, “The Traceability of Bitcoin’s Unspent Transaction Output System”. Contrary to popular belief, Bitcoin was not created by criminals to be an untraceable tool for money laundering. Criminals have exploited it, but its model was actually created to make transactions public and traceable.  

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Crash Course: Preventing Fraud in the World of Cybersecurity

Crash Course: Preventing Fraud in the World of Cybersecurity

During the first round of breakout sessions at the 35th Annual ACFE Global Fraud Conference, cybersecurity management consultant Gideon Rasmussen delivered a crash course on fraud concepts, 15 kinds of fraud schemes and best fraud response practices to demonstrate how cybersecurity insights contribute to fraud prevention.

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Understanding the Fraud Risks in Green Public Procurement

Understanding the Fraud Risks in Green Public Procurement

When Tom Caulfield, CFE, CIG, CIGI, was commissioned to write a report on how to prepare a public procurement anti-corruption strategy for green public procurement, he initially didn’t know what green public procurement (GPP) was. His research revealed that, while the Basel Institute on Governance claims the term “green corruption,” there’s no universal definition of what green corruption entails. Thinking at first it involved mainly water and air pollution, he discovered that a more accurate definition is any corrupt or fraudulent act occurring in the procurement process that impacts the environment.

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Deepfake Threats and How to Counter Them

Deepfake Threats and How to Counter Them

“Technology is neither good nor bad,” said spy and human hacker, Peter Warmka, CFE, CPP, at the early morning session on the final main conference day of the 34th Annual ACFE Global Fraud Conference. It depends on how it’s being used. Deepfakes and artificial intelligence (AI), just like other types of technology, can be used for good purposes as well as manipulation and to cause harm. Certified Fraud Examiners (CFEs) can respond by understanding the technology, countering its risks and constant verification. 

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Keys to Successful Sanctions Compliance 

Keys to Successful Sanctions Compliance 

During their final session on Tuesday afternoon at the 34th Annual ACFE Global Fraud Conference, Enterprise Content Manager Rabihah Butler, Esq., and Jacob Denman, product marketing manager of risk, compliance and governance at Thomson Reuters discussed the nature of major sanctions trends and advocated for proper screening and controls when it comes to sanctions compliance. 

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