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14Jul 2021 by ACFE - Rhode Islahd Chapter #33

A Conversation With the “Original Internet Godfather” – John Gill – Brett Johnson – Fraud Talk – Episode 109

FraudPodcast

June 28, 2021 June 2021 - During the closing session of the 32nd Annual ACFE Global Fraud Conference, John Gill, vice president of education at the ACFE, spoke with convicted fraudster* Brett Johnson, who shared stories from his life as a cybercriminal. After being placed on the United States Most Wanted List, captured and convicted of 39 felonies, he escaped prison. Captured again, Johnson served his time and accepted responsibility. *The ACFE does not compensate convicted fraudsters SOURCE: Fraud Talk Podcast - A Publication of the Association of Certified Fraud Examiners

The IC3 2020 Elder Fraud Report

Insights

GUEST BLOGGERRon Cresswell, J.D., CFEOn June 15, 2021, the FBI’s Internet Crime Complaint Center (IC3) released its 2020 Elder Fraud Report. According to the report, victims over 60 reported nearly $1 billion in fraud-related losses in 2020, which represents 28% of all losses reported to IC3. The average loss for seniors was $9,175, and nearly 2,000 senior victims lost more than $100,000. The top three fraud schemes reported by seniors in 2020 were extortion schemes, nonpayment/nondelivery schemes and tech support fraud. The type of scheme that accounted for the greatest amount of loss was confidence fraud/romance schemes.Extortion schemesAmong seniors, extortion schemes were the top fraud scheme reported to the IC3 in 2020. According to the report, there were 23,100 senior victims of extortion schemes in 2020. This represents an increase…

Mentoring Success Story: Rupert and Lena

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Rupert Evill’s background is in investigations, which led him to become a CFE. He now spends as much (maybe more) time working on the preventative side of risk and compliance. Located in Singapore, Rupert started his own company, Ethics Insight, in early-2019, with the mission to democratize access to ethics and compliance support and advice. He has received guidance from others throughout his career and joined the ACFE Mentoring Program to pay it forward. Lena Lin, CFE, has years of experience in fraud risk management and internal controls at an international bank based in Hong Kong. She has examined internal and external fraud cases, conducted analysis and supported internal enhancements. But other areas have started to interest her, including Regulatory Technology (RegTech), anti-fraud applications and financial crime compliance strategies. She…