Check out "The Fraudies", Oversight's list of top Corporate Fraudsters

The folks at Oversight Systems have announced The Fraudies, a light-hearted collection of some of the bolder attempts to defraud corporations that have been detected or deterred by continuous auditing and monitoring. My personal favorite is the individual who used their company's P-Card to purchase $3,400 worth of advice from the Psychic Hotline. Let's hope the psychic didn't tell the fraudster to join your firm.

Unfortunately, today's challenging economic times are increasing the pressures and the rationalization behind more potential fraudsters.  We are working with a number of organizations in different industries, to help increase the likelihood of detection by implementing cost-effective monitoring techniques.

Using these techniques as part of regularly scheduled audits of Accounts Payable, Travel & Entertainment or P-Card audits can help organizations achieve compliance objectives while also returning money to the bottom line by reducing overpayments and re-capturing inappropriate disbursements.  Further, like the Fraudies, we hope that by publicizing these instances of fraud, other future fraudsters will be deterred.   

Joe Oringel

Visual Risk IQ

Charlotte NC 28277