Defense Against the Dark Arts: Now & Future Fraud

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Category:
Partner Produced | Accounting and Auditing
Faculty:
Joel Cohen | Justin Burchett
Course Levels:
Overview
Duration:
1 Hour
License:
Access for 30 day(s) after program date.

Be aware of the red flags of fraud and update your organization’s defenses to prevent the newest forms of fraud by analyzing the latest scams (dark arts) occurring over the last decade. Discuss tried cases while exploring the best practices of forensic accounting and fraud examinations.

Basic Course Information
Learning Objectives
Explore red flag behaviors and how they accompany fraudulent behaviors and examine the internal controls that most effectively combat occupational fraud

Major Subjects
What is fraud?
Fraud throughout the ages
Fraud opportunity: then and now
Red flags of fraud
Prevention vs. detection
Suggested defenses

mportant CPE Credit Information_READ BEFORE WEBCAST (484.4 KB) 2 Pages Available after Purchase
Defense_Handout (3.1 MB) Available after Purchase

Joel Cohen
Joel Cohen is a Managing Director in the Disputes, Compliance, & Investigations group.

Joel has over 17 years of experience in the dispute, forensic, and insolvency practice areas, most specifically focused in the financial services and asset management industries. His experience encompasses a number of significant cross-border insolvency and litigation matters, where he has served as financial advisor and consulting expert to fiduciaries, offshore liquidators, bankruptcy, and litigation trustees. He has assisted these clients in a variety of litigation consulting services, including asset tracing, fraud, Ponzi schemes, industry custom and practice for investment managers, and forensic analysis. Joel has also led several internal investigations within the context of family office, investment advisors, and various corporate structures.

Before joining Stout, Joel was a Managing Director at a boutique financial advisory and consulting firm. Prior to that, he spent a number of years with a global financial advisory firm in its Dispute & Investigations group where he helped manage a team of CPAs, economists, attorneys, and finance professionals in executing a diverse array of complex engagements related to the various hedge fund/private equity fraud, insolvencies, and litigations that characterized the global financial crisis of 2008-09.

He was a leader in the disputes practice at a Big 4 accounting firm and senior vice president at a prominent investment bank in charge of internal investigations. Joel has worked with premier law firms on accounting malpractice, business insurance disputes, fraud detection, and economic investigations.

Joel has expertise in managing the expectations of various stakeholders involved in insolvency proceedings, liquidations, litigation settlements, and receiverships, namely in his capacity of assisting a board, trustee, receiver, or official liquidator with their duties, including U.S. and cross border considerations. He has extensive experience within the offshore world, regularly handling cases out of the Caribbean

Justin Burchett
Justin Burchett is a Managing Director in the Complex Securities & Financial Instruments practice. He is based in the New York office.

Justin focuses on expanding Stout’s financial services industry capabilities by delivering valuation opinions and related advisory services to a variety of client types. These include corporations, hedge funds, private equity funds, asset managers, banks, insurance companies, real estate investment trusts, specialty finance companies, and government agencies.

He has more than 15 years specializing in the valuation of financial services firms and complex financial products including: ABS, RMBS, CDO/CLOs, CMBS, derivative instruments, consumer and commercial whole loans, private debt and equity, and convertible debt. Justin’s areas of expertise include complex financial instruments including derivatives, structured products, corporate and consumer debt instruments, and bank loan portfolios.

Prior to joining Stout, Justin was a Managing Director at BDO Consulting. He previously led valuation engagements as a Managing Director at an independent investment bank and a global accounting firm. Earlier in his career, Justin held front-office positions in the alternative asset management sector where he was responsible for the analysis of structured credit products.

What is Everything Else?

Everything Else is a product category on Amazon that is meant to be a catch-all for items that don’t fit into any other categories. Over time, as the Amazon catalog has grown and more specific product categories have been added, Everything Else has become less useful and more of a junkyard for cast off and forgotten listings.

Until recently, however.

Why are items listed in Everything Else when they shouldn’t be?

The answer to this is fairly simple. Some sellers are using Everything Else as an opportunity to get around Amazon’s gated category requirements. For example, DVDs with an MSRP of over $25 are now gated  Selling certain products and bran… More and require permission to list. So we’ve seen some sellers create new listings in Everything Else to get around these requirements. We’ve noticed similar “workarounds” for other gated or restricted  Selling certain product categorie… More categories as well.

Amazon doesn’t like this. It just makes the catalog more of a mess than it already is and ends up creating a worse customer experience.

Defense Against the Dark Arts: Now & Future Fraud

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