Peter Goldmann, MSc., CFE, is president of FraudAware LLC, the publisher of White-Collar Crime Fighter, a widely read monthly newsletter for internal auditors, controllers, corporate counsel, financial operations managers and fraud investigators. Peter is the author of Fraud in the Markets: Why it Happens and How to Fight It, published by John Wiley & Sons, as well as four other anti-fraud books. Mr. Goldmann has also developed FraudAware, the leading employee fraud awareness training program. A user-friendly, customized learning tool, FraudAware uses workshop, Webinar and E-Learning formats to educate employees and managers at all levels in how to detect, prevent and report incidents of fraud or suspicious conduct. Peter is a Principal of FraudResourceNet, the largest online resource of how-to anti-fraud articles, Webinars, audit templates and news. Peter holds a Bachelor's degree from the University of Michigan and a Master's from the London School of Economics.
Expense reimbursement fraud—encompassing the myriad forms of employee travel and entertainment (T&E) schemes as well as Purchasing Card (P-Card) fraud—costs organizations hundreds of thousands, if not millions of dollars per year. According to the Association of Certified Fraud Examiners (ACFE), expense reimbursement frauds result in a median loss of $26,000 per incident and represent 14.5% of all emplo..
Accounts Payable (AP) is the one business function that, in many organizations, is more vulnerable to fraud than any other. That is because all funds that flow out of the organization must first pass through AP. And over time, dishonest insiders and vendors have created newer and craftier methods of stealing from organizations by exploiting control weaknesses in the AP function.Result: It is more important ..
Employee fraud has become a serious and persistent cause of financial losses and reputational damage to organizations of all kinds... More and more employees are committing crimes such as embezzlement, check fraud, falsification of financial statements, collusion with corrupt vendors and, as most recently with Volkswagen, fraudulent manipulation of product specifications. Making matters worse, computer and ..