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The security director for the 2016 Olympic Games allegedly committed fraud when he occupied the same position during the Pan American Games held in Rio de Janeiro four years ago.
The Association of Certified Fraud Examiner’s (ACFE) 2010 Report to the Nations on Occupational Fraud and Abusecompiled 1,843 cases of occupational fraud worldwide between January 2008 and December 2009. The survey estimated that a typical organization lost 5 percent of its annual revenue to fraud with a median loss of $160,000; nearly one-quarter of the frauds involved losses of at least $1 million.
A conversation with banking and retail security professionals reveals how funding, PCI compliance, fraud and the recession make securing their banking, financial and retail facilities a challenge.
Money moves from bank to retailer and back to bank. Just as important, personal information accompanies any electronic transaction. Security magazine editor Diane Ritchey and SDM magazine editor Laura Stepanek brought together financial, banking and retail professionals and a security integrator to discuss how their industries are similar but yet have such differing security needs from other segments.
An employee for Orange County software company Retail Technologies Corporation is accused of stealing more than $100,000 from NBC Universal in a grand theft and credit card fraud scheme.
The government recaptured a record $4 billion last year from pharmaceutical companies, hospitals, doctors, nursing homes and other providers of care that defrauded federal health-care programs, the Obama administration reported.
While arson may be committed by business people, it should not be thought of as a white-collar crime. The reporting of a fire as accidental, when it is known to be arson is a crime. Just one very important point: “Washington law has long recognized the presumption that a fire is accidental, unless proven otherwise,” meaning that the insurance companies have a hill to climb to prove arson.