fraud

A ‘Very Credible’ Candidate: This Recruiting Scam Is Underway Now

“Victoria Jones,” head of leadership consulting at Exec Search Pros Inc., emailed yours truly on Oct. 29 about a client that had “retained us to fill various senior-level positions in one of their recent acquisitions. I was referred to you by an outside talent sourcing firm and based on your previous experience I think you…

Ticket Asset Management Represents Billions In Risk And Value

The pandemic forced BCD Travel to manage nearly half a billion dollars worth of unused, nonrefundable tickets during the year ending last month. During the first half of last year, Travel and Transport saw a 300 percent increase in the number of unused tickets stored in its database. American, Delta, Southwest and United in financial…

Agro Exec In Washington State Accused Of Stealing Half A Million By Using Non-Preferred Travel Management Company

[UPDATE, July 8, 2021: Claypool on Wednesday was sentenced to three years in federal prison. He agreed to forfeit $7.8 million in “criminally derived proceeds” after already paying more than $8 million in restitution.] The U.S. Attorney for the District of Oregon charged former grass seed company executive Christopher Claypool with multiple counts of wire…

How To Break The Bond Between Corporate Travel Management And International Criminal Activity

It was a record year for U.S. federal prosecution of corruption and fraud. The Justice Department Criminal Division in 2019 charged more individuals, and secured more guilty pleas, for violations of the Foreign Corrupt Practices Act than in any year since it was enacted four decades ago. This topped the previous two years, which were…

St. Louis Sales Exec Indicted For Fake Expense Claims

Authorities on Friday arrested a senior sales director for St. Louis-based cheese wholesaler Swiss American Inc. on three counts of wire fraud related to use of a company credit card. According to a U.S. Department of Justice complaint, Tara Sabatini during 2017 and 2018 used her card for personal expenses including flights and hotel rooms…

Why Use AI For Audits? ‘The Mind Gets Trained To Have A Positive Bias’

The number of fraud examiners using artificial intelligence and machine learning to detect and deter fraud is expected to triple in the next two years. It doesn’t take a supercomputer to understand why manual processes can fall short: complacency is a human trait. “When you are eyeballing transactions and trying to make judgments about any…

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