How fraudsters justify their crimes, the power of codes of conduct, and why industry compliance leads to better transparency
Fraud is an omnipresent threat often caused by elaborate schemes and corporate insiders or disenchanted employees who exploit weak points. But why do fraudsters justify or rationalize their crimes and how can firms stop playing catch up with their schemes? Chris Mines is joined by Christopher Knight, a seasoned financial crime expert. They discuss the main types of rationalization, why fraudsters abandon ethical rules, and the necessity for stronger industry enforcement.
Some of the topics covered in this course include:
• Assessing codes of conduct and principles for ethical judgments • Interviewing alleged fraudsters after determining the how but searching for the why • The main reasons why fraudsters rationalize their actions • The duties of the PCAOB plus recent enforcement decisions • Examining if auditing firms can still self-regulate • The future of auditing standards and more!
Field of Study: Behavioral Ethics
Financial Crimes Expert | Head of Fraud | Innovator
Award-winning and distinguished executive-level compliance leader with expertise in the design, implementation, overhauling, and ultimate leadership of best-in-class fraud, waste, abuse, and investigation programs. Subject matter expert in financial crimes with numerous professional certifications. Held the title of Head of Fraud for multiple high-profile organizations with a proven and measurable track record of reducing and mitigating fraud losses. Experienced and tested leader in Anti-Money Laundering (AML), Bank Secrecy Act (BSA), E-Commerce Fraud, Banking Fraud, Bribery & Embezzlement Fraud, and Healthcare/Insurance Fraud to name a few. Recognized as having special talents and exceptional skills within start-ups as well as seasoned companies in fraud program design & implementation. Led new build-outs as well as overhauled established programs including the creation and updating of internal controls and fraud detection. Individual skills include, but are not limited to: analytics & pattern detection, complex investigations, data mining, Enhanced Due Diligence (EDD), fraud risk, interviewing & interrogation, Know Your Customer (KYC), Law Enforcement, laws & regulations to include the US PATRIOT Act, and many others.
