Home

Fraud Risk Management

“There are presently 405 Corporate Fraud cases being pursued by FBI field offices throughout the United States. This represents a 100 percent increase over the number of Corporate Fraud cases pending at the end of Fiscal Year 2003. Eighteen of the current pending cases involve losses to public investors which individually exceed $1 billion. The volume of cases has yet to reach a plateau, with three to six new cases being initiated each month.”
Federal Bureau of Investigation – 2005 Financial Crimes Report to the Public

 “As of the end of Fiscal Year (FY) 2006, 490 Corporate Fraud cases are being pursued by FBI field offices throughout the U.S., 19 of which involve losses to public investors that individually exceed $1 billion.”

“With losses totaling approximately $40 billion per year, combating Securities and Commodities Fraud remains a priority for the FBI…As of FY 2006, the FBI is investigating 1655 cases of Securities and Commodities Fraud”
Federal Bureau of Investigation – 2006 Financial Crimes Report to the Public.

  • A junior trader at Societe Generale defrauded the bank of $7
    Billion by circumventing internal controls.  
  • A former mailroom worker at J. P. Morgan Chase & Company pleaded guilty to charges related to the theft of more than $100 million in corporate checks. 
  • The U.S. Attorney’s Office in Chicago issued 24 count Federal Indictments against a 27 year employee at LaSalle Bank Corp and a vendor for allegedly defrauding the bank of $42 million.

In this constantly changing business environment corporate fraud continues to expand and evolve.  Shareholders expect companies to stay one step ahead of fraud while simultaneously increasing operational efficiency.  BCD Associates offers clients innovative industry specific solutions to address fraud risk management with an enterprise-wide approach.

BCD Associates combines audit, investigations, IT security and law enforcement professionals in an integrated team to guide your company through the development of a robust anti-fraud program that will result in more effective controls and reduced losses. BCD Associates is uniquely positioned to assess the current control environment and identify deficiencies.  With prior industry experience the team understands budget constraints in the post Sarbanes-Oxley environment and will prioritize solutions that make sense for your organization.