The Pitfalls of Offshore Accounting: A Forensic Accounting Perspective

Offshore accounting has long been a subject of debate in financial and legal circles. While there are legitimate reasons for businesses and individuals to hold offshore accounts—such as asset protection, international business expansion, and tax planning—the misuse of offshore structures has made them a favorite tool for tax evasion, fraudulent financial reporting, and money laundering.

From a forensic accounting perspective, offshore accounts present numerous challenges in detecting and preventing financial crime. This post will explore the pitfalls of offshore accounting, its use for tax evasion and creditor fraud, and why it has become a preferred tool for criminals over the years. [Read more…]

5 most scandalous fraud cases of 2024

This year’s most scandalous frauds incurred billions in losses and deeply impacted many lives. They also focus our attention on what goes wrong when organizations eschew vital anti-fraud fundamentals. Whether it’s defrauding government regulators or failing to employ proper cybersecurity protocols, many of the cases on this year’s list spotlight the severe consequences of acting unethically or lacking solid anti-fraud controls.

Fraudsters work year-round to perpetrate their schemes; we work year-round tracking and compiling those fraud cases as they’re reported in the news. We tap the expertise of our Advisory Council — a dedicated group of ACFE members who advise us on numerous anti-fraud matters — to vote on the most scandalous cases. Here are the most scandalous fraud cases of 2024.

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Five Steps to Preventing Expense Fraud

Expense fraud, a type of occupational fraud where employees manipulate expense claims for personal gain, poses significant risks to businesses of all sizes. Preventing this type of fraud is crucial for maintaining the financial health and integrity of an organization. Here are five essential steps to prevent expense fraud: [Read more…]