How a $12.5 Million Indictment Turned Out to be a $3 Million Loss

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How a $12.5 Million Indictment Turned Out to be a $3 Million Loss

A $12.5 million indictment turned out to be a $3 million loss. How did this happen? During her session at the 34th Annual ACFE Global Fraud Conference, CEO and Founder of Acuity Forensics Tiffany Couch, CFE, CPA/CFF, walked attendees through a case study in which her determination to find accurate information revealed a 78.07% overstatement that, once uncovered, decreased the number of counts charged and incarceration time for her client.

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72 Hours to Get it Right: The Clock is Ticking on Your Investigation

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72 Hours to Get it Right: The Clock is Ticking on Your Investigation

You have probably heard the phrase, “Proper planning prevents poor performance.” That is how one of the session panelists introduced the 34th Annual ACFE Global Fraud Conference session, “72 Hours to Get it Right, Sponsored by FORVIS,” which focused on the role of timeliness when it comes to fraud investigations. FORVIS forensics and valuation services professionals Erik Lioy, CFE, CPA/CFF, Zachary Powers, and Pat Hoan, CFE, CPA, wanted to prove that the actions taken by fraud investigations in the first three days after a potential fraud is uncovered play a crucial role in the direction of the investigation.

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Cultural and Bias Awareness Improve the Quality of Investigations 

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Cultural and Bias Awareness Improve the Quality of Investigations 

A common notion is that certain tell-tale signs, such as not making eye contact, can be used as sure indicators that a person is lying. However, forensic investigator Ruben Naiker, CFE, points out that there may be other reasons, such as culture or personality, for why an individual might exhibit certain behaviors besides dishonesty. Understanding cultural differences and being aware of one’s personal biases during interviews are crucial for achieving accuracy in investigations, said Naiker during a presentation on the topic at the 34th Annual ACFE Global Fraud Conference. 

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The Psychology Behind Detecting Lies

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“You have an innocent person in front of you and you look a little bit harried. You’re dropping papers, confusing cases, you’re spilling coffee on documents and you’re going to look at him and he’s going to become exacerbated. You’ve got a guilty person in front of you, you’re doing the same things. He’s thinking this is a great day.”

Dr. David Lieberman shared his expertise as a psychotherapist in the fields of human behavior and interpersonal relationships with attendees of the 34th Annual ACFE Global Fraud Conference through his keynote session.

Crypto Panel Discussion at the 34th Annual ACFE Global Fraud Conference

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Crypto Panel Discussion at the 34th Annual ACFE Global Fraud Conference

"When you pull of a crypto heist like this you can watch the getaway car move through the city map and follow its every turn as thieves try to find somewhere to hide their money or cash it out." Listen in to the panel discussion with Andy Greenberg, Sheila Warren and Hester Peirce at the 34th Annual ACFE Global Fraud Conference as they discuss the challenges of investigating crypto fraud cases and the lack of regulatory reform to prevent it.

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