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SAP Game-Changers Radio #69: Fraud Risk Management: Who, Why, What, Where, When and HOW?

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Welcome to SAP Coffee Break with Game-Changers Radio blog on SCN. I’m Bonnie D. Graham, creator / producer/ host of our weekly live thought leader talk radio series.

Episode #69 aired live on Jan. 23, 2013. Listen on-demand: right here.

Episode Overview:

Today’s buzz: Fraud

To level set, let’s define it. In criminal law, a fraud is an intentional deception made for personal gain of money or valuables, or to damage another individual. Fraud is a crime, and a civil law violation.

A Google search on the word fraud yielded “about 349,000,000 results in 0.43 seconds”, starting with these:

  • = Corporate Fraudnews and articles
  • Yahoo! News (blog) – Men Commit More Scientific Fraud Than Women
  • Fraud News – US News and World Report
  • CNN: – Articles on Fraud
  • AARP: › Money: Scams & Fraud News – Identity Theft Protection, Credit Card

OK! Enough!

It’s 2013. Surely, by now, with all of our sophisticated technology, we’ve figured out how to catch the bad guys and gals who are stealing money and identities, bribing, corrupting, or otherwise cheating companies and the consumer.

“Not,” say our experts.

Jonathan Middup: “Corporate fraud is most often a product of good people in bad circumstances. Depending on those circumstances, we could all be fraudsters.”

Jonathan E. Turner: “Over the past 15 years we’ve made great strides in understanding fraud, increasing technology-based tools, and created focused legislation – yet fraud losses are increasing and fraud schemes go longer before detection … Even though we have better tools, fraudsters do, too, and they are pulling ahead.”

Michael Rasmusssen: “Business today is like the Titanic.”

Rod Brennan: “Fraud is the white elephant. It is 5% of revenue in any company (ACFE 2012 Report to the Nations), and current controls will not find or prevent most fraud.

Norman Marks: “Manage fraud like never before.”

Join us for more insights on Fraud Risk Management: Who, Why, What, Where, When and HOW?

Meet our panelists:

01-23-13 Jonathan Middup Photo.jpgJonathan Middup is a partner in Ernst & Young’s Fraud Investigation and Dispute Services. He has been carrying out fraud, bribery and corruption, and regulatory investigations for the last sixteen years, leads the investigation team outside London and is head of Anti-Bribery and Corruption in the UK. Jonathan has liaised with government and enforcement bodies across the world including the SFO, FSA, Department of Justice, SEC and FBI.  He is a forensic accountant who speaks and is published regularly on fraud issues.

Jonathan E. Turner, CFE, CII, is Senior Director, Global Compliance Investigations, Wright Medical Technology and Founder and Managing Director, Wilson & Turner Incorporated. He has a strong background in complex and sensitive investigations, corporate fraud, employee dishonesty, money 01-23-13 Jonathan Turner Photo_Crop.jpglaundering and computer crime cases. Jonathan has been retained to provide expert testimony regarding fraud, on behalf of governmental, public and private organizations. He is also an Adjunct Professor in the Business School at the University of North Carolina – Chapel Hill and for the University of Memphis Criminology Department. Jonathan has lectured on fraud, money laundering, and fraud investigation for the Association of Certified Fraud Examiners, American Society for Industrial Security, CPA Societies, professional groups and private companies. He has authored more than 40 articles and “Money Laundering Prevention: Deterring, Detecting, and Resolving Financial Fraud” ( Wiley June 2011).

Michael Rasmussen, J.D., OCEG Fellow, CCEP, GRCP, CISSP, is the Chief GRC Pundit at GRC 20/20 Research, LLC. He is an internationally recognized 01-23-13 Michael Rasmussen Photo_Crop.jpgpundit on governance, risk management, and compliance (GRC) – with specific expertise on the topics of enterprise GRC, GRC technology, corporate compliance, and policy management. With more than 18 years of experience, Michael helps organizations improve GRC processes, design and implement GRC architecture, and select technologies that are effective, efficient, and agile. He is a sought-after keynote speaker, author, and advisor, and is noted as the “Father of GRC” — being the first to define and model the GRC market in February 2002 while at Forrester.

Gerard (Rod) Brennan, CFE, PhD, is NA Risk & Internal Control Officer for Siemens. A passionate advocate of using technology to audit and monitor, he works with researchers around the world to develop a continuous auditing / monitoring culture and technology for Siemens. Rod successfully 01-23-13 Rod Brennan Photo.jpgdefended his PhD thesis on “The Use of Intelligent Software to Enable Continuous Auditing”. His research work included the design and development of a proof of concept ERP (SAP) continuous auditing software model incorporating some of the latest continuous auditing research concepts. The model was co-developed with Rutgers Universities’ Continuous Auditing Research Laboratory (CarLab). Rod is also an adjunct professor teaching advanced auditing and information technology in the Rutgers University MBA program. Previously, he worked as CFO for a foundation, as an SAP consultant, and in various accounting and controlling positions for a Fortune 500 US company.

Norman Marks, CPA, CRMA, is Vice President, Evangelist at SAP, focusing on governance, risk management, internal audit, compliance, enterprise 01-23-13 Norman Marks Photo.jpgperformance, and the value of information. Prior to Business Objects’ acquisition by SAP, he was their Vice President of Internal Audit responsible for internal auditing, risk management, the Sarbanes-Oxley Section 404 (SOX) program, and license compliance. Norman has been chief audit executive of major global corporations since 1990, and is a globally-recognized thought leader in the professions of internal auditing and risk management. He is the author of the Institute of Internal Auditors’ “Minimize Costs & Increase the Value of Your Sarbanes-Oxley 404 Program”,  described as “the best Sarbanes-Oxley 404 guide out there for management”. He has been honored as a Fellow of the Open Compliance and Ethics Group, and as an Honorary Fellow of the Institute of Risk Management.

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