Certified Fraud Examiners Release 2012 Report

"…what is most striking about the data we gathered is how consistent the patterns of fraud are around the globe and over time."

Forbes

The Association of Certified Fraud Examiners (ACFE), released its 2012 Report to the Nations based on data complied from a comprehensive study of over 1,300 cases of fraud over the past two year.

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Report: Fraud Loss at $3.5 Trillion Globally

Most of the trends in fraud schemes, perpetrator characteristics, and anti-fraud controls are similar regardless of where the fraud occurred.

Compliance Week

Not sure whistleblower hotlines are an essential tool for detection of fraud? You may want to check out the latest data from the Association of Certified Fraud Examiners. According to the ACFE's 2012 Report to the Nations, occupational fraud was detected through tips from insiders more than by any other method (43 percent) in 2011, and most of those tips came from employees.

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Interpol to Crack Down on Cyber Crime

Interpol said it is making the war against cyber crime a priority as online fraud crosses borders and increases in scope

Seattle Times

Khoo Boon Hui, president of the global police network, told a conference of 49 European member states that cyber crime is becoming more transnational. He pointed to a study published in March by the London Metropolitan University that found 80 percent of online crime is connected to cross-border organized gangs.

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U.S. Charges More Than 100 for Medicare Fraud Schemes

Biggest Medicare fraud sweep to date

Reuters

U.S. authorities have charged 107 people, including doctors and nurses, for trying to defraud the federal Medicare healthcare program for the elderly and disabled of about $452 million, the biggest Medicare fraud sweep to date.

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Adelphia Fraud Funds Give More Than $728 Million to Victims

Largest single distribution of forfeited assets to victims in the Department of Justice’s history

BusinessWeek

More than $728 million forfeited in connection with the criminal prosecutions of Adelphia Communications Corp. founder John Rigas, and his son Timothy, is being paid to victims, prosecutors said.

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