Category: Insights

In this episode of Fraud Talk, the ACFE's Chief Training Officer John Gill sat down with Charles Antonucci, the former president of The Park Avenue Bank, who was convicted in 2015 of trying to defraud the Troubled Asset Relief Program (TARP). Antonucci also pleaded guilty to other charges including self-dealing, bribery, embezzlement of bank funds, and a multi-million fraud scheme involving an insurance company. The ACFE does not compensate convicted fraudsters.In this excerpt, Charles Antonucci speaks about running The Park Avenue Bank during the Great Recession:Charles: We grew the bank immediately from-- I think the first year we went from 25 million to 100 million. We used broker deposits as a tool. Then within the first three years, we were close to 400 million. I built the branch in Borough…

Diversity, Equity and Inclusion (DEI) is a term that is often tossed around within companies and organizations, but what does it mean? The formal definition of DEI is “a conceptual framework that promotes the fair treatment and full participation of all people, especially in the workplace, including populations who have historically been underrepresented or subject to discrimination because of their background, identity, disability, etc.” It’s often used to describe policies and programs put in place to highlight and recognize the representation and participation of different groups of individuals. Why Does DEI Matter in Fraud Examination?Anti-fraud professionals and fraudsters come from many diverse backgrounds and  experiences. As a result, we each have an individual lens through which to view the world. This lens shapes our experiences and exposure and deeply impacts…

The Ritchie-Jennings Memorial Scholarship provides an opportunity for students to advance their education and anti-fraud career paths. Additionally, it supports their anti-fraud interests by providing a full year of ACFE membership. Award amounts are $10,000, $7,500, $5,000 and $2,000 and are paid directly to the recipient’s university or college.Eligibility RequirementsThe current application period is still open and provides scholarships for the 2023-2024 academic year. Interested students must demonstrate a desire to pursue a career in fraud examination or similar anti-fraud profession and:Have a declared major or minor in accounting, business administration, finance, criminal justice or other fraud-related discipline.   Be enrolled full-time at an accredited, four-year college or university through the 2023-2024 academic year.Undergraduates must be enrolled in nine semester hours (or equivalent) per term and must be a junior, senior…