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September 26, 2017
This week I am at the ACAMS 16th Annual AML & Financial Crime Conference and the event is offering a wealth of tips for those concerned about combatting money laundering. While Fred Kaplan, author of the Dark Territory: The Secret History of Cyber War, delivered a keynote address that was a... Read More »
September 21, 2017
Q: What are the different ways I can create an IDEAScript? A: There are multiple ways to do this in IDEA. The first and probably most obvious is to go to the Macros ribbon and select IDEAScript. This will bring up the IDEAScripting editor. From there you can start to create your script (you can... Read More »
September 19, 2017
When it comes to purchasing cards (P-Cards), there will always be employees who will unintentionally misuse the card or purposefully try to conceal personal purchases. Here are some recent stories about P-Cards being used to purchase everything from lawnmowers and jewelry to televisions and doggy... Read More »
September 13, 2017
When internal controls fail, it can come with a big price tag. Not only can an organization lose money because of the revenue leakage itself, but if the loss is significant enough it can compel some companies to seek out the help of cost recovery services—and that help doesn’t come cheaply. One of... Read More »
September 7, 2017
In our recent webinar, ‘The Truth Behind Detecting Fraud Using Data Analytics Tools’, data consultant Sunder Gee dispels some of the myths around using data analytics to detect fraud. As he debunks these myths, Sunder reminds us of the important role data analytics plays in audit and shared best... Read More »
August 30, 2017
In recent years big data has become a phenomenon and has enabled organizations to change the course of their business based on an abundance, quality and velocity of information. This change has also greatly affected the audit profession. A recent article in the CPA Journal examined how traditional... Read More »
August 25, 2017
Onboarding is an essential, if tedious, practice for any financial institution. A labor-intensive process, it’s necessary to ensure that organizations have fulfilled their Know Your Customer (KYC) requirements, and have done due diligence to avoid doing business with high-risk customers or vendors... Read More »
August 22, 2017
Q: I want to write an IDEA script or a custom function to find the minimum and maximum value for a date range by using a criterion, such as vendor. So, if I have this file: Vendor Date 111 03-Mar-17 111 28-Feb-17 111 01-Jan-17 112 07-Mar-17 112 01-Mar-17 112 28-Nov-16... Read More »
August 16, 2017
Fighting financial crimes such as money laundering and terrorist financing is a never-ending battle due to the persistent evolution of activity and channels criminals use to commit crimes. In response, the United Nations Office on Drugs and Crime (UNODC) has developed a standard software solution... Read More »
August 10, 2017
The heatwave and wildfires in Europe are not the only headlines that caught our eye. Here are a few anti-money laundering stories that you’ll want to read. Ireland: The country’s Criminal Assets Bureau (CAB) has launched investigations into accusations that members of Dublin gangs are using the... Read More »