By Sridhar Ramamoorti
Get functional insights at the psychology of white-collar criminalsand easy methods to outsmart them
Understand how the psychologies of fraudsters and their sufferers have interaction in addition to what makes auditors/investigators/regulators enable down their defend. know about the psychology of fraud sufferers, together with forums of administrators and senior administration, and what makes them are looking to think fraudsters, and for this reason making them rather susceptible to deception. simply because it specialists gave us laptop forensics, we have now a uniquely certified workforce immersed in psychology, sociology, psychiatry in addition to accounting and auditing, introducing the rising box of behavioral forensics to handle the phenomenon of fraud.
Ever ask yourself what makes a white-collar felony tick? Why does he or she do what they do? For the 1st time ever, see the brain of the fraudster laid naked, together with their occasionally twisted rationalizations; imagine like a criminal to trap a criminal! The A.B.C.'s of Behavioral Forensics takes you there, with professional recommendation from a various yet hugely really expert authoring crew of pros (three out of the 4 are qualified Fraud Examiners): a former accounting enterprise associate who has a PhD in psychology, a former FBI distinctive agent who has been with investigative practices of 2 of the massive 4 corporations, an business psychiatrist who has labored heavily with the C-level suite of enormous and small businesses, and an accounting professor who has interviewed various convicted felons. besides a desirable exploration of what makes humans fall for the typical and not-so-common swindles, the ebook offers a sweeping characterization of the ecology of fraud utilizing The A.B.C.'s of Behavioral Forensics paradigm: the undesirable Apple (rogue executive), the undesirable Bushel (groups that collude and behave like gangs), and the undesirable Crop (representing organization-wide or perhaps societally-sanctioned cultures which are poisonous and corrosive). The booklet will make you are taking an extended glance whilst hiring new staff and provides a deeper extra advanced figuring out of what occurs in organisations and of their humans. The A.B.C. version also will aid these inside and out organisations inoculate opposed to fraud and make you think of instilling the center values of your company between your humans and create a tradition of excellence and integrity that acts as a prophylactic opposed to fraud. eventually, you'll find that, used properly, behavioral equipment trump completely monetary incentives. With enterprise fraud at the upward push globally, The A.B.C.'s of Behavioral Forensics is the must-have e-book for investigators, auditors, the C-suite and threat administration pros, the forums of administrators, regulators, and HR professionals.
- Examines the psychology of fraud in a realistic method, bearing on it to elements of fraud prevention, deterrence, detection, and remediation
- Helps you recognize that belief violationthe essence of fraudis a betrayal of behavioral assumptions approximately "trusted" people
- Explains how strong humans cross undesirable and the way another way sincere humans go the line
- Underscores the significance of making a tradition of excellence and integrity that inoculates a firm from fraud probability (i.e., sincere habit will pay, whereas dishonesty is frowned upon)
- Provides key takeaways on what to appear for whilst hiring new staff and on your present staff, in addition to developing and preserving a tradition of keep watch over consciousness
- Includes narrative bills of interviews with convicted white-collar criminals, in addition to interpretive insights and research in their rationalizations
- Furnishes rules approximately easy methods to improve specialist skepticism, find out how to withstand fraudsters, find out how to see via their schemes, the way to infuse inner controls with the people/behavioral point, and lead them to more suitable in addressing behavioral/integrity risks
- Provides a pretty good origin for education courses around the fraud possibility administration existence cycle all of the method from the invention of fraud to its research in addition to remediation (so a similar fraud does not take place again)
- Enables auditors/investigators to have interaction in self-reflection and steer clear of cognitive and emotional biases and traps that bring about specialist judgment error (e.g., overconfidence, affirmation, self-deception, groupthink, halo impression, availability, speed-accuracy trade-off, etc.)
Ever because the accounting scandals surrounding Enron and WorldCom surfaced, resulting in the passage of the Sarbanes Oxley Act of 2002, in addition to the continued fall out from the Wall road monetary difficulty precipitating the Dodd-Frank Act of 2010, fraud has been a number one predicament for executives globally. should you concept you knew every little thing there has been to understand approximately monetary fraud, reassess. Get the true scoop with The A.B.C.'s of Behavioral Forensics.
Chapter 1 Fraud Is in every single place (pages 13–26):
Chapter 2 The Sins of Quantification and different Mind‐Set Impediments (pages 27–39):
Chapter three past the Fraud Triangle: towards an summary of A.B.C. thought (pages 41–54):
Chapter four past the Fraud Triangle and into the brain: The construction Blocks of Behavioral Forensics—Understanding How the fundamentals of Human habit Tie into Fraud (pages 59–79):
Chapter five “Said the Spider to the Fly …”: The Predator‐Prey Dance—Putting Behavioral technology basics into movement (pages 81–119):
Chapter 6 The unintentional Fraudster (Bad Apple): whilst the Apple Turns and Honesty Reverses direction (pages 121–141):
Chapter 7 The undesirable Bushel and past: Seeing the bigger Context of the C‐Suite (pages 143–164):
Chapter eight handling the Ecology of Fraud: What you are able to do on Monday Morning (pages 171–194):
Chapter nine the way forward for Behavioral Forensics: constructing mental knowledge to enrich monetary Fraud Suspicions (pages 195–212):
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Additional info for A.B.C.'s of Behavioral Forensics: Applying Psychology to Financial Fraud Prevention and Detection
This book seeks to address the fact that the devastating outcomes of accounting scandals and massive frauds affect pretty much everyone: boards of directors, audit committees, C‐suite executives, internal and external auditors, regulators, investors, employees and their families, and local communities. The damage can be both immense and long‐lasting. So we are inevitably led back to these questions: ● ● Why does fraud happen? Could it have been prevented? The latter question, while difficult, is perhaps the easier to answer.
13. American Institute of Certified Public Accountants (AICPA), Management Override of Internal Controls: The Achilles’ Heel of Fraud Prevention (New York: AICPA, 2005). Similarly, in the late 1990s, AICPA’s Fraud Task Force did an excellent job of incorporating the fraud triangle components into its Statement on Auditing Standards (SAS) 99, “Consideration of Fraud in a Financial Statement Audit,” which emphasized the need to exercise a higher degree of professional skepticism and suggested brainstorming as a useful planning strategy before commencing auditing fieldwork.
1961–1968). S. 5 million American Express bill. What happened to bring about this pension fund fraud charge, and why was the SEC involved? The details of the case were intriguing. The state had been accused of underfunding the state pensions for several years while also raising state bonds. The SEC’s report noted the following: The (pension funding) schedule proved insufficient to cover both the cost of benefits accrued in a current year and a payment to amortize the plans’ unfunded actuarial liability.
A.B.C.'s of Behavioral Forensics: Applying Psychology to Financial Fraud Prevention and Detection by Sridhar Ramamoorti