Post on 01-Jan-2016
Protect Your Protect Your BusinessBusiness
Protect Your Protect Your BusinessBusiness
Become a Hard TargetBecome a Hard TargetBecome a Hard TargetBecome a Hard Target
Where Are We Going?Where Are We Going?Where Are We Going?Where Are We Going?
Continuous Monitoring
Think Like a Thief
Cyber Security Considerations
Continuous Monitoring
Think Like a Thief
Cyber Security Considerations
Goals of this ProgramGoals of this ProgramGoals of this ProgramGoals of this Program
Fraud is MeanFraud is MeanFraud is MeanFraud is Mean
Question: “Why did you do this?”
Answer: “BECAUSE THEY WERE STUPID”.
Question: “Why did you do this?”
Answer: “BECAUSE THEY WERE STUPID”.
Financial Crime AutopsyFinancial Crime AutopsyFinancial Crime AutopsyFinancial Crime Autopsy
Indications were missed
Trust is Lost
Lack of Recovery
Problems Continue
Indications were missed
Trust is Lost
Lack of Recovery
Problems Continue
Self ImageSelf ImageSelf ImageSelf Image
Strong Work Ethic
Building Solid Company
Providing Good Jobs
Fair, Concerned
Strong Work Ethic
Building Solid Company
Providing Good Jobs
Fair, Concerned
Maybe NotMaybe NotMaybe NotMaybe Not
Wealthy
Uncaring
Greedy
Owes Employees More
Wealthy
Uncaring
Greedy
Owes Employees More
What Can HappenWhat Can HappenWhat Can HappenWhat Can Happen
Theft Occurs
Loss Unknown
Inquiries
Confrontations
Theft Occurs
Loss Unknown
Inquiries
Confrontations
Training and PreventionTraining and PreventionTraining and PreventionTraining and Prevention
Average loss: $150,000.00
10% Margin=$1.5 million to make up for loss
Obtaining Financial Records Difficult
Prosecution or Not?
Average loss: $150,000.00
10% Margin=$1.5 million to make up for loss
Obtaining Financial Records Difficult
Prosecution or Not?
5 Things You Can Do5 Things You Can Do5 Things You Can Do5 Things You Can Do
Know Your Vendors
Identify Unknown Vendors
Background Check
Verify Existence
Determine if any relationship to employees
Know Your Vendors
Identify Unknown Vendors
Background Check
Verify Existence
Determine if any relationship to employees
5 Things You Can Do5 Things You Can Do5 Things You Can Do5 Things You Can Do
Know Your Employees
Identify Employees in Sensitive Positions
Review and verify applications/resumes
Credit Reports
Background Checks
Fidelity Bonds
Know Your Employees
Identify Employees in Sensitive Positions
Review and verify applications/resumes
Credit Reports
Background Checks
Fidelity Bonds
5 Things You Can Do5 Things You Can Do5 Things You Can Do5 Things You Can Do
Know Your Credit Cards
How Many
Custody
Written Guidelines
Review Statements
Know Your Credit Cards
How Many
Custody
Written Guidelines
Review Statements
5 Things You Can Do5 Things You Can Do5 Things You Can Do5 Things You Can Do
Know Your Cyber Environment
Common Attack Vectors
Keep System Modern
Employee Training
Know Your Cyber Environment
Common Attack Vectors
Keep System Modern
Employee Training
5 Things You Can Do5 Things You Can Do5 Things You Can Do5 Things You Can Do
Have a Plan
Suspicion Only
Known Theft
Known Intrusion
Have a Plan
Suspicion Only
Known Theft
Known Intrusion
When to Call a ProWhen to Call a ProWhen to Call a ProWhen to Call a Pro
Sensitive Position
Lawsuit, Subpoena
Unresolved Allegations
Theft has Occurred, Loss Unknown, Large Loss
Chance of Recovery
Law Enforcement Involvement
L
Sensitive Position
Lawsuit, Subpoena
Unresolved Allegations
Theft has Occurred, Loss Unknown, Large Loss
Chance of Recovery
Law Enforcement Involvement
L
Additional ConsiderationsAdditional ConsiderationsAdditional ConsiderationsAdditional Considerations
Know Your Company
Know Your Partners
Know Your Expenses
Know Your Bank Statements
Know Your Bonus Programs/Return Policies
Know Social Media
Know Your Company
Know Your Partners
Know Your Expenses
Know Your Bank Statements
Know Your Bonus Programs/Return Policies
Know Social Media
Randal A. Randal A. WolvertonWolvertonRandal A. Randal A. WolvertonWolverton
CPACFFCFE
(816)223-0770randal.wolverton@cpa.com
CPACFFCFE
(816)223-0770randal.wolverton@cpa.com