Fraud Auditing, Detection, and Prevention Blog

Forensic Auditing Vs. Forensic Investigation of Fraud

Apr 20, 2022 5:17:42 PM / by Leonard W. Vona posted in Litigation, Fraud Auditing, ...

Check out the answers to last month's Trivia Quiz and why it matters for making our profession the number one reason for fraud detection:

How much more money is laundered in fiat currencies than in cryptocurrency?

400 times more money is laundered in fiat currencies than in cryptocurrency.

What percentage of system-generated alerts against money laundering resulted in false positives?

95% of system-generated alerts against money laundering resulted in false positives.

According to money laundering statistics of 2020, what percent of laundered money goes undetected?

90% of laundered money remains undetected, according to money laundering statistics of 2020. 

Source: Legal Jobs Blog

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The Advantages of Using Fraud Auditing & Litigation Experts

Mar 19, 2018 12:00:00 PM / by Leonard W. Vona posted in Litigation, Fraud Auditing ...

While auditors are often experts in accounting and auditing it is not reasonable to assume your team are also highly skilled experts in fraud auditing, forensic accounting, or even litigation when the time comes for further action. Many cases of fraud have the capability to go undetected for years if the proper controls are not in place, and so it is likely your team of auditors are not commonly dealing with fraud in their working lives beyond the creation of controls and preventative measures.

Let’s take a look at the advantages of using experts in fraud auditing and litigation to support your team while detecting and addressing matters of fraud.

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