Fraud Auditing, Detection, and Prevention Blog

Complex Fraud Scheme: Vendor Overbilling Part 1

Aug 2, 2018 9:07:00 AM / by Leonard W. Vona posted in Fraud Definitions, Fraud Auditing, ...

In our fraud risk registers, we have identified over 100 procurement fraud schemes and over 100 overbilling fraud schemes. When these kinds of numbers are involved the idea of finding complex fraud schemes in your core business systems may seem overwhelming. However, fraud data analytics can simplify and improve the process.

In this blog we have selected a complex corruption scheme and a complex overbilling scheme to illustrate how fraud auditing can detect even the most complex schemes. The starting point is to identify the fraud risk statement and then understand how and where the scheme can occur in your organization.

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Fraud Data Analytics: A Worked Example for Ghost Employee Fraud Schemes

Jul 12, 2018 12:38:00 PM / by Leonard W. Vona posted in Worked Example, Fraud Detection, ...

Ghost employee schemes are a common fraud scheme during which there are people on the payroll who don’t work for the company in question but do collect a salary or remuneration.

Let’s take a closer look at how you can use fraud data analytics when creating an executing an audit program for ghost employees:

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Five Common Fraud Schemes & How to Identify Them

Feb 16, 2018 4:56:00 PM / by Leonard W. Vona posted in Fraud Data Analytics, Fraud Risk Identification, ...

Knowing where and how fraud occurs can be a crucial step towards improving your fraud detection and prevention policies, saving you or the company you are investigating a significant amount of money and time.

Here are five common fraud schemes and how to better identify them. Auditors and management may utilize knowledge of these schemes to help their teams better identify fraud as it happens by understanding key patterns in data.

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