Corporate Fraud Detection, Remedy, and Prevention Techniques: How to Defend Your Company in 2015
Most companies face greatly increased risks of being a victim of fraud in today global and computer-oriented business milieu. Considering the high cost of fraud, in revenue, time, and legal cost, losses of opportunity, etc. it is surprising how few companies are protected from and prepared for fraud. It is imperative that companies develop and implement fraud prevention strategies to prevent, detect, and address business fraud. Strong fraud prevention policies assure investors, regulators, auditors and the general public that the company is protected.
The Association of Certified Fraud Examiners estimates that fraud and related abuse cause the equivalent of five percent of gross revenues in losses. According to the Association of Certified Fraud Examiners, businesses suffer an average of $155,000 per fraud incident and increasing yearly. Billing fraud schemes are the most common, comprising almost one-third of the total.
To defend against fraud, one must be educated about how fraud schemes are perpetrated, who does them, what and how much is stolen, recognizing non-traditional fraud schemes, what prevention schemes can be enacted; among others. Based upon studies done by several organizations including the Committee of Sponsoring Organizations (COSO), the Association of Certified Fraud Examiners (ACFE), and large CPA firms, the top ten fraud schemes include corruption, Ponzi and asset flip schemes.
In this two hour live webcast, a panel of thought leaders and practitioners assembled by The Knowledge Group will review and discuss Corporate Fraud Detection, Remedy, and Prevention Techniques. The panel will provide insights and advice on How to Defend Your Company in 2015 and offer best practices in developing and implementing an effective Fraud Proactive Prevention and Response Policies, Procedures, and Programs.
Some of the major topics that will be covered in this course are:
- Classical Fraud Cases: Ponzi, Madoff, ZeekRewards, HealthSouth, Apple Computers, Yelp
- Conflicts of Interest (Purchasing and Sales Schemes); Bribery (Kickbacks and Bid Rigging)
- SEC Responses to Fraud
- Common Corporate Weaknesses
- Why Employees Commit Fraud (The Fraud Triangle)
- 'Inside Jobs', Procurement Fraud, and Cyber Crime
- Risks of Inaction
- Data Mining and Analytics
- Fraud Auditing Techniques
- Effective Internal Investigations
- Data Breach Management
- Effective Legal Action and Remedies
- Corporate Anti-fraud Compliance Policies and Procedures
- Compliance and Litigation Risks
Wragge Lawrence Graham & Co LLP
- Responding to fraud: practical options to recover assets
- Utilizing civil law remedies and insolvency measures
- Raising the perception of detection
- The differences between traditional litigation and fraud recovery litigation
- Tools and options for fraud recovery (Canadian perspective)
- Effective and proven strategies and tactics to maximize fraud recovery
- Recurring Fraudulent Claims and Indicia of Magnitude of Fraud
- Highlights of Employee Embezzlement Data and What it Means for Prevention Techniques
- The Recurring Claim of Misconduct Between Small Business Owners
- Fraudulent Schemes and Typical Causes of Action for Recovery
- Fraud Schemes Causing Lawsuits for Preferences and Clawbacks Against Your Company
Who Should Attend:
- Senior and Mid-Level Corporate Managers
- Business Owners
- Private Practitioners
- In-House Counsel
- Fraud Lawyers
- Fraud Litigators
- Risk Managers
- Compliance Officers
- Security Officers
- Chief Information Officers
- Internal and External Auditors
- Financial Managers
- Procurement and Payment Managers
- Ethics Managers
- Risk Analysts & Controllers
- Fraud and Insurance Investigators
- Related Legal Practitioners
Alex Jay’s practice covers all forms of commercial dispute resolution, and he has particular expertise in matters involving fraud or misappropriation of assets. He is a Certified Fraud Examiner, and has substantial experience advising on commercial and insolvency related disputes with an international aspect, co-ordinating lawyers in multiple jurisdictions to implement strategies to resolve disputes or recover assets effectively and efficiently.
Alex Jay’s practice covers all forms of commercial dispute resolution, and he has particular expertise in matters involving fraud or …
Acting for a variety of clients, including financial institutions, public and private corporations, groups of defrauded investors and retail brokerage clients, Michael Mysak has a corporate/commercial litigation practice with an emphasis on fraud litigation, securities litigation, and shareholder disputes. He has successfully traced, frozen and recovered significant assets from both foreign and domestic defendants and has been involved in several precedent-setting decisions in the field of fraud recovery law in Alberta. Michael has also successfully pursued and defended various securities and shareholder disputes, including claims of improper financial disclosure, oppression remedy claims and derivative actions.
Michael appears before all levels of court in Alberta, the Federal Court of Canada, the Alberta Securities Commission and several administrative tribunals.
Michael is an instructor at the University of Calgary, Faculty of Law Trial Advocacy course and has taught classes on civil law at Mount Royal University.
Michael is a board member of Calgary Legal Guidance and is a former board member of the Canadian Club of Calgary and the Calgary Blockwatch Council.
Michael is recognized as one of Canada's "Leading Lawyers under 40" in the 2014 edition of Lexpert's annual Rising Stars awards.
Acting for a variety of clients, including financial institutions, public and private corporations, groups of defrauded investors and retail brokerage …
Tom Quinn’s commercial civil litigation practice spans 30 years and focuses on professional liability defense and insurance coverage. He represents lawyers, accountants, insurance brokers and other miscellaneous professionals in malpractice actions, and represents insurance companies in coverage disputes and rendering coverage opinions. He also has a general commercial litigation practice handling ERISA and environmental matters, including class actions. In addition, Tom is well versed in the substance and subtleties of the London insurance market, leveraging the firm’s London office to provide ready access to our network of attorneys for London-based insurers.
Tom is the immediate past president of the Essex County Bar Association, New Jersey’s second-largest bar organization. Tom is credited with more than 15 reported cases, and more than 20 unreported cases, primarily in the coverage and professional malpractice areas, some of which are landmark New Jersey decisions. In addition to litigation, Tom counsels professionals on risk management techniques and represents them before ethics boards.
Tom Quinn’s commercial civil litigation practice spans 30 years and focuses on professional liability defense and insurance coverage. He represents …
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NASBA Field of Study:
Specialized Knowledge and Applications
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Areas of Professional Practice
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About Wragge Lawrence Graham & Co LLP
Wragge Lawrence Graham & Co is a UK-headquartered international law firm providing a full service to clients worldwide. Making a real connection with its people and clients, the firm uses commercial and innovative thinking to provide the legal solutions clients need to thrive and prosper.
With significant capability in London, the UK, and internationally, Wragge Lawrence Graham & Co offers a broad range of services as well as in-depth sector expertise. Home to a market leading fraud and asset recovery practice, top-tier real estate, equity capital markets, investment funds, private capital, IP, pensions and construction experts, it has more than 770 lawyers, operating from ten offices worldwide.
This global reach, combined with the sector know-how and technical excellence of its people, is why it is a trusted advisor to FTSE 100 and 250 businesses, entrepreneurs, financial institutions, UK and overseas government departments, and high net worth individuals.
To find out more, visit www.wragge-law.com
About Bennett Jones
Bennett Jones LLP is an internationally recognized Canadian law firm. The firm and the affiliated and associated entities that comprise Bennett Jones have more than 400 lawyers and business advisors and 500 staff in nine Canadian and international offices – Calgary, Toronto, Edmonton, Ottawa, Vancouver, Doha, Washington, DC, Bermuda, and a representative office in Beijing. We continue to broaden and deepen our representation of clients in key global business centres, and build our profile and relationships around the world. With exceptional experience in complex cross-border and international transactions, the firm is ideally suited to advise foreign businesses and investors with Canadian ventures, and connect Canadian businesses and investors with opportunities in the US, Asia, the Middle East, and around the world.
Bennett Jones reflects the integrity and professional excellence of the firm’s founding partners. Over the years, the firm has produced some of Canada's most accomplished legal and business leaders, fostering values that established Bennett Jones one of Canada's most successful business law firms. As business needs shift, the firm offers clients innovative, strategic and forward-thinking approaches to business. Mutual respect and independent thought are cornerstones of client and colleague interactions, and dedication to excellence extends to how they relate to people. Efforts have not gone unnoticed. Bennett Jones is proud to have been recognized for 13 consecutive years as one of Canada's 50 Best Employers.
About Wilson Elser
Wilson Elser, a full-service and leading defense litigation law firm (www.wilsonelser.com), serves its clients with nearly 800 attorneys in 27 offices in the United States and one in London and through a network of affiliates in key regions globally. Founded in 1978, it ranks among the top 200 law firms identified by The American Lawyer and is included in the top 50 of The National Law Journal's survey of the nation’s largest law firms. Wilson Elser serves a growing, loyal base of clients with innovative thinking and an in-depth understanding of their respective businesses.