Banks are currently battling rising of fraudulent activities as it damages their relationship with their customers. Online banking fraud is decreasing trust and confidence among the customers and decreasing operating performance and increasing cost for the banks. This paper looks at online banking fraud in Norway and answers the research questions (1). How are bank customers attacked through the internet? and (2). How are banks trying to prevent fraudulent attacks against their customers? Interviews and document collection were used for data gathering, and in total, four interviews were conducted with academics and business professionals. The data were analysed using thematic analysis. The findings suggest that BankID fraud, Card fraud, CEO fraud, Investment fraud, Love scams and Phishing are among the most frequent attacks in Norway at present. Attacks contain elements of social manipulation, constantly change and are customized to target victims. The attacks have in common that they all are showing patterns of professionalizing. The study found that Norwegian banks are technologically advanced regarding fraud detection and authentication, and have put efforts into awareness against online banking fraud. However, the main issue of online banking fraud in Norway is seemingly grounded in the interactions made by the customers with the technology and not the prevention system the banks deploy.

This paper deals with the subject of fraud investigation. Fraud investigation and forensic audit as such are defined in the first part of the paper. Requirements to become a fraud investigator are described in the next part. A theory surrounding frauds is also presented (incl. most common fraud schemes, fraud triangle etc.). The author also describes foreign anti-corruption legislation which has power to punish corruption which took place on the soil of Czech Republic. An example of how breach of FCPA in the Czech Republic has been investigated is presented by the end of the paper.

Investment managers are entrusted with clients assets and should act with due care and diligence when dealing with it. The regulation of investment managers does not preclude the possibility that they can defraud their clients. The question posed by this research is whether the regulator can as part of its risk-based supervision methodology apply a fraud auditing approach to identify possible investment fraud schemes. The regulatory mandate and powers to pro-actively detect fraud is considered as well as the changes required to the regulator’s methodologies. / Dissertation (MPhil)--University of Pretoria, 2011. / Accounting / unrestricted

Fraud risk assessment is an important audit process that has a direct impact on the effectiveness of auditors' fraud detection in an audit. However, prior literature has shown that auditors are generally poor at assessing fraud risk. The Public Company Accounting Oversight Board (PCAOB) suggests that auditors may improve their fraud risk assessment performance by adopting a fraud specialist mindset. A fraud specialist mindset is a special way of thinking about accounting records. While auditors think about the company's recorded transactions in terms of the availability of supporting documentations and the authenticity of the audit trail, fraud specialists think instead of accounting records in terms of the authenticity of the events and activities that are behind the reported transactions. Currently there is no study that has examined the effects of the fraud specialist mindset on auditors' fraud risk assessment performance. In addition, although recent studies have found that fraud specialists are more sensitive than auditors in discerning fraud risk factors in situation where a high level of fraud risk is present, it remains unclear whether the same can be said for situation where the risk of fraud is low. Thus, the purpose of my dissertation is to examine the effects of fraud specialist and audit mindsets on fraud risk assessment performance. In addition, I examined such effects on fraud risk assessment performance in both high and low fraud risk conditions. The contributions of my dissertation include being the first to experimentally examine how different mindsets impact fraud-related judgment. The results of my study have the potential to help address the PCAOB's desire to improve auditors' fraud risk assessment performance though the adoption of the fraud specialist mindset. In addition, my study contributes to the literature by exploring fraud-related problem representation as a possible mediator of mindset on fraud risk assessment performance. I executed my dissertation by conducting an experiment in which mindset (fraud specialist or audit) was induced prior to the completion of an audit case (high or low in fraud risk). A total of 85 senior-level accounting students enrolled in two separate auditing classes participated in my study. The results from my experimental provide empirical support that it is possible to improve auditors' fraud risk assessment through adapting the fraud specialist mindset. My study also provides preliminary evidence that individuals with the fraud specialist mindset developed different problem representations than those with the audit mindset.

Medical identity fraud is a byproduct of identity theft; it enables imposters to procure medical treatment, thus defrauding patients, insurers, and government programs through forged prescriptions, falsified medical records, and misuse of victim's health insurance. In 2014, for example, the United States Government lost $14.1 billion in improper payments. The purpose of this multiple case study, grounded by the Health Insurance Portability and Accountability Act as the conceptual framework, was to explore the strategies 5 healthcare leaders used to prevent identity theft and medical identity fraud and thus improve business performance in the state of New York. Data were collected using telephone interviews and open-ended questions. The data were analyzed using Yin's 5 step process. Based on data analysis, 5 themes emerged including: training and education (resulting to sub-themes: train employees, train patients, and educate consumers), technology (which focused on Kiosk, cloud, off-site storage ending with encryption), protective measures, safeguarding personally identifiable information, and insurance. Recommendations calls for leaders of large, medium, and small healthcare organizations and other industries to educate employees and victims of identity theft because the problems resulting from fraud travel beyond the borders of medical facilities: they flow right into consumers' residences. Findings from this study may contribute to social change through improved healthcare services and reduced medical costs, leading to more affordable healthcare.

Financial statement fraud control has attracted considerable attention and associated response in recent years due to the incalculable collateral damage that could drain the long term success of companies. This research aims to present recommendations to improve financial statement fraud control in commercial companies. The research also evaluates the current strategies for the prevention and detection of financial statement fraud and the reaction thereto. Accordingly, the research attempts to highlight the best practices and weaknesses from the present practices. Based on the experience of two Malaysian commercial companies, the research provides ameliorations to improve the current weaknesses, in particular, to financial statement fraud control. The research takes a normative point of view in making recommendations for financial statement fraud control. A qualitative research methodology is adopted in conducting the investigation to understand the actual conduct of practices. Hence, the primary data are acquired from the case study companies and interviews with the relevant group of respondents, and secondary data from the law, regulations, legislation and professional guidelines. The research investigates the financial statement fraud regulations to understand the legal framework as well as the legal practice. Furthermore, the professional guidelines are examined to understand what the professional bodies have suggested to manage the risk of fraud, thereby enabling the researcher to understand the consequences of the actual practices and provide improvements for financial statement fraud control. In addition, interviews with regulators, forensic accountants, external auditors and independent bodies are conducted to develop an understanding of the protocols of financial statement fraud in Malaysia. Therefore, the findings of the research are a mix of the present practices, respective roles, and perceptions concerning the issues of financial statement fraud control. The case study findings demonstrate that neither case study company is highly concerned about the issue of financial statement fraud control. This provides an indication that no evidence was gained concerning specific controls embedded in the present internal control system and typifies the actual practice, in particular, the prevention, detection and response strategies to mitigate financial statement fraud. The lack of evidence presents a research limitation to identify any best practices for the mitigation of financial statement fraud in the context of commercial companies in Malaysia. The research results indicate that the case study companies are highly reliant on their respective internal controls for the prevention of financial statement fraud and detection strategies. In addition, they demonstrate that the present internal audit functions focus on operational audit and concern pertaining to corporate risk. This provides an indication that the scope of the internal auditing work is not primarily concerned with the accuracy of the financial statement information, but rather with the risk of losses to the respective companies. This certainly leaves scope for an expectation gap to arise in the present internal audit functions and the association of internal audit and risk towards financial statement fraud. The particular aspects concerning the detection of fraud in financial statements and financial statement fraud control have been perceived differently between the company’s internal and external auditors. The combined results of the perceived control by company management, the present audit functions, and the detection and control responsibilities of the internal and external auditors provide and support the existence of an internal audit expectation gap. The overall case study findings indicate evidence of an internal audit expectation gap, which constitutes a serious flaw in the internal control systems adopted by the companies. Therefore, the contribution of this research might improve the present internal control system and provide a more holistic solution for financial statement fraud control. A review of the findings also indicates that Malaysia implements the lowest penalties and exercises the most lenient enforcement in relation to financial statement fraud cases compared to the UK and the US. The research has made contributions to research methodology; contributions to knowledge about the present practices in the form of practical recommendations to improve practice; contributions to academic theory in relation to the theoretical concept of financial statement fraud control and internal auditing of financial statement and, finally, contributions to the regulators and standard setters. The research also offers anti-fraud programmes, particularly in respect of the prevention, detection and response strategies as part of a company’s efforts to mitigate financial statement fraud. Overall, the research contributes to the study of financial statement fraud control and provides practical recommendations for financial statement auditing theory. The focus on financial statement fraud in commercial companies would enhance the reliability of the issued financial statement.

Earnings management and accounting fraud are detrimental to the integrity of financial reporting, and more worryingly, are pervasive. Furthermore, there is often a grey area in which individuals regularly question whether or not specified accounting methods are strictly legal and permitted, or an underhanded abuse of GAAP-granted flexibility. In response, recently there has been an uprising of legislation attempting to curb the incidence of both these events, but there is still question as to whether or not these attempts are effective, or even wholly necessary. This piece examines methods of accounting manipulation through an analysis of cases, and then analyzes the effects on companies of attempts at both regulation and prevention.

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Phishing is a form of crime in which identity theft is accomplished by use of deceptive electronic mail and a fake site on the World Wide Web. Phishing threatens financial institutions, retail companies, and consumers daily and phishers remain successful by researching anti-phishing countermeasures and adapting their attack methods to the countermeasures, either to exploit them, or completely circumvent them. An effective solution to phishing requires a multi-faceted defense strategy. We propose a model for phishing. We report on a survey we conducted of user detection of phishing. We also report on experiments to assess the success of automated methods for assessing clues to phishing email. We present recommendations for a defense-in-depth strategy to prevent phishing.

This study examines the impact of knowledge, experience, goal orientation, ethical orientation, and personality traits on managers' and accountants' abilities to recognize misappropriation of assets. Participants included students and professionals. The student group included upper-level accounting majors and upper-level management majors. The professional group included students enrolled in an introductory accounting course for their MBA program and internal auditors from a variety of organizations. Findings in the study show that accounting students assessed the possibility that fraud was in progress at a higher level than the management students, suggesting that the accounting students acquire basic knowledge about fraud from the accounting curriculum, which improves performance. The effect of reading articles was marginally significant for assessing the possibility of fraud, showing that students who have read or who are required to read articles better identify the clues associated with employee theft. For the professional group, the effects of academic major and fraud specific training led to identifying the possibility of employee theft at a higher level. It appears that training sessions help professionals in identifying the risk factors associated with fraudulent activity, producing benefits to organizations that far outweigh the costs. Full-time work experience was marginally significant (p Several findings of the additional analysis using structural equation modeling extend the audit decision making literature by showing certain factors that enhance knowledge and improve decision making as experience increases. Higher learning goal orientation scores, mediated by experience and ethical position, should lead to more accurate identification of risk factors that are commonly associated with fraudulent activity. These findings should encourage firms to draw upon the knowledge of experts as they develop expert decision aids and training sessions for internal audit departments. Organizations should also integrate actual instances of misappropriation of assets into training sessions on fraud prevention and detection while developing and improving models of training sessions and expert decision aids for unstructured, complex tasks.