Palm Beach Chapter of the ACFE

03/22/2024

Don't miss out! Limited seats remaining for Intro to Crypto Crime on Weds 3/27. Use coupon code Facebook for $10 off.

Intro to Crypto Crime presented by Jesse Gossman, fraud detective and co-founder of The Block Audit LLC.

01/22/2024

🕵️‍♂️ Call for Fraud Investigator Speakers! 🎙️

If you're passionate about fraud prevention and want to share your insights, reach out to us! Drop a comment or email us directly with your bio and topics you'd love to cover.

We're on the lookout for dynamic speakers to join our upcoming 2024 event calendar and shed light on the evolving landscape of fraud detection and prevention.

🔍 What We're Looking For:
Experienced Fraud Investigators
Thought leaders in Fraud Detection
Experts in Cybersecurity and Financial Crimes

01/17/2024

🚀 Exciting News: Join the PBCACFE (Palm Beach Chapter of the Association of Certified Fraud Examiners)! 🌟

We're thrilled to announce the launch of our 2024 Membership Drive! 🎉
Join the PBCACFE (Palm Beach Chapter of the Association of Certified Fraud Examiners) and unlock a world of opportunities, networking, and professional growth.

🌐 WHY JOIN US?
Networking Powerhouse: Connect with industry leaders, experts, and like-minded professionals.
Exclusive Events: Gain access to members-only workshops, webinars, and conferences.
Knowledge Hub: Stay ahead with curated resources, industry insights, and trends.
Community Support: Join a community that values collaboration, support, and success.

Ready to take your professional journey to new heights? Here's how you can join:
🔗https://pbcacfe.org

🔁 Help us spread the word! Share this post and tag professionals who would benefit from being a part of the PBCACFE (Palm Beach Chapter of the Association of Certified Fraud Examiners).

Let's grow this chapter, thrive, and succeed together! 🚀


Activate to view larger image,

01/12/2024

🛫 𝐅𝐫𝐚𝐮𝐝𝐬𝐭𝐞𝐫𝐬 𝐨𝐟𝐭𝐞𝐧 𝐞𝐱𝐩𝐥𝐨𝐢𝐭 𝐠𝐚𝐩𝐬 𝐢𝐧 𝐢𝐧𝐭𝐞𝐫𝐧𝐚𝐭𝐢𝐨𝐧𝐚𝐥 𝐜𝐨𝐥𝐥𝐚𝐛𝐨𝐫𝐚𝐭𝐢𝐨𝐧. 𝐂𝐅𝐄𝐬 𝐰𝐨𝐫𝐤𝐢𝐧𝐠 𝐨𝐧 𝐢𝐧𝐭𝐞𝐫𝐧𝐚𝐭𝐢𝐨𝐧𝐚𝐥 𝐟𝐮𝐧𝐝𝐬 𝐭𝐫𝐚𝐜𝐢𝐧𝐠 𝐜𝐚𝐧 𝐟𝐨𝐬𝐭𝐞𝐫 𝐜𝐨𝐥𝐥𝐚𝐛𝐨𝐫𝐚𝐭𝐢𝐨𝐧 𝐛𝐞𝐭𝐰𝐞𝐞𝐧 𝐥𝐚𝐰 𝐞𝐧𝐟𝐨𝐫𝐜𝐞𝐦𝐞𝐧𝐭 𝐚𝐠𝐞𝐧𝐜𝐢𝐞𝐬, 𝐟𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐢𝐧𝐬𝐭𝐢𝐭𝐮𝐭𝐢𝐨𝐧𝐬, 𝐚𝐧𝐝 𝐨𝐭𝐡𝐞𝐫 𝐫𝐞𝐥𝐞𝐯𝐚𝐧𝐭 𝐞𝐧𝐭𝐢𝐭𝐢𝐞𝐬 𝐭𝐨 𝐬𝐡𝐚𝐫𝐞 𝐢𝐧𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧 𝐚𝐧𝐝 𝐜𝐨𝐥𝐥𝐞𝐜𝐭𝐢𝐯𝐞𝐥𝐲 𝐜𝐨𝐦𝐛𝐚𝐭 𝐟𝐫𝐚𝐮𝐝. 🔍

12/29/2023

🔍✨ As we embark on a new year, let's prioritize the success and security of businesses by emphasizing the importance of running thorough background checks on employees at the beginning of every year. 🌐💼

A robust background screening process is not just a regulatory requirement; it's a strategic investment in building a trustworthy and resilient workforce. 🛡️✅ By conducting comprehensive checks, it can ensure a safer work environment, protect company assets, and uphold the integrity of the brand.

Remember, a proactive approach to background screening is a key element in risk management.

12/13/2023

𝐍𝐞𝐰 𝐁𝐞𝐧𝐞𝐟𝐢𝐜𝐢𝐚𝐥 𝐎𝐰𝐧𝐞𝐫𝐬𝐡𝐢𝐩 𝐈𝐧𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧.

Are you aware that recent changes to the "Corporate Transparency Act" most privately held U.S. companies are now subject to the new Beneficial Ownership Reporting requirements?

The goal is to help prevent money laundering and other financial crimes by providing information about the owners who directly or indirectly control more than 25% of the company or exercise substantial control over the company.

Starting January 1, 2024, many companies will be required to report information to the U.S. government about who ultimately owns and controls them.

12/04/2023

Whoever controls the data, controls the narrative.

It’s not just divorce creating a growing demand for forensic accountants. The Association of Certified Fraud Examiners (ACFE) now counts more than 62,000 active Certified Fraud Examiners (CFEs) around the world — an 18% increase since 2018. A significant portion of the CFEs, who must pass a four part exam, are accountants.

https://www.forbes.com/sites/kellyphillipserb/2023/12/04/so-youre-getting-a-divorce-do-you-need-a-forensic-accountant/?sh=664091552460

They show up in celebrity divorces (think Kevin Costner), big bankruptcies (think FTX) and financial fraud cases. But you don’t have to be famous to benefit from the help of a deep diving accounting pro.

12/01/2023

This article is a great read because it shows the pervasive nature of fraud and auditors.

“If two-thirds of the time you get away with murder, and one-third of the time you get a slap on the wrist, are you surprised there is so much fraud?”

https://fortune.com/2023/11/30/corporate-fraud-frequency-cost-white-collar-crime-sam-bankman-fried-elizabeth-holmes/

Only one out of every three corporate frauds is ever caught, finance professors write in a new accounting study, but critics claim their definition of fraud is too broad.

11/29/2023

Another local fraud story... Fort Lauderdale based company provides help to foreign exchange students looking to gain admission into universities.

This company promoted their services in English and Russian. Do you think they specifically targeted a demographic for a reason?

This sounds like affinity fraud. Affinity fraud leverages and exploits the inherent trust within the group. For example, a fraudster may target a specific religious congregation. Oftentimes, the person will try to enlist the help of the leader of the group to market the investment scheme.

FORT LAUDERDALE, Fla. — A Fort Lauderdale company that offers to help foreign students enroll as exchange students at American universities took more than $174,000 and delivered “fake” acceptance letters

11/28/2023

What Anti-Fraud Professionals Need to Know About Cryptocurrencies..

Cryptocurrency has become a hot topic in the news over the past few years. As it continues to gain a foothold in society, what do anti-fraud professionals need to know? Learn more in this short video (YouTube video courtesy of the ACFE).

11/23/2023

Wishing our members and colleagues a very Happy Thanksgiving!! 🦃🦃🦃

11/05/2023

.In a Nutshell: Check kiting is a way of writing checks, or even cashing checks, for insufficient amounts by taking advantage of the typical three-day period a bank needs to clear a check. If done methodically, over time, repeatedly, one can earn interest on amounts that do not exist. It is a form of federal bank fraud, or on the state level, a form of check fraud.

https://www.wishtv.com/news/national/businessman-sentenced-in-180-million-bank-fraud-that-paid-for-lavish-lifestyle-classic-cars/

A businessman who orchestrated a $180 million check-kiting scheme has been sentenced to more than eight years in prison.