{"id":965,"date":"2023-01-16T18:03:10","date_gmt":"2023-01-16T22:03:10","guid":{"rendered":"http:\/\/bringingfreudtofraud.com\/?p=965"},"modified":"2023-01-16T18:05:12","modified_gmt":"2023-01-16T22:05:12","slug":"frauds-not-gonna-happen-to-me-us","status":"publish","type":"post","link":"https:\/\/bringingfreudtofraud.com\/?p=965","title":{"rendered":"\u201cFraud\u2019s Not Gonna Happen to Me\/Us\u201d"},"content":{"rendered":"

(By Jack Bigelow) Many human-made disasters (including fraud) on this planet can be traced back to some form of thinking at a critical decision point that goes something like this: \u201cI\u2019m good. My risks are low. I\u2019m going to go for it.\u201d But this misplaced confidence could be eclipsing a residual anxiety in the unconscious state of mind of many an executive. Neuroscientist Tali Sharot remarked, \u201cWe are more optimistic than realistic; but we are oblivious to the fact.\u201d<\/em><\/p>\n

We want profit and growth, yet many a company from Enron<\/em> to Theranos<\/em> to FTX<\/em> planted the malevolent seeds of fraud during their good days. (And blissfully assumed that they were not vulnerable.<\/strong>) So, could you be at risk? Could you? Especially in thinking about fraud?
\nOh, to be able to gather statistics on how often that pattern of thought preceded disaster in the sordid list of very expensive and highly embarrassing incidents of corporate fraud around the world.
\nSome questions to ask yourself (Be honest, now!):
\n\u2022 How fraud-resistant is our organization? Or our clients\u2019 organizations?
\n\u2022 How do I know the level of fraud resistance we enjoy?
\n\u2022 Is the culture of our firm one of above-reproach ethical behaviors? Where are we on the spectrum?
\n\u2022 Where are our weak spots for fraud?
\n\u2022 Do we have tangible resources to encourage the whistle blowing of risky mischief? To buttress our system of internal hard controls with the soft controls of people-focused actions?
\n\u2022 How strong is our ethical ecosystem? Can it withstand a beckoning temptation to take advantage of internal control weaknesses?<\/p>\n

The graveyard of companies ruined by poor \u201csoft\u201d controls (those based on psychological materiality)\u2014the weakest links–have ripples that spin out to their broader systems. This could be you.<\/p>\n

If this post jars your otherwise serene outlook on fraud risk in your organization, you must check out a virtual conference coming in mid-February, 2023. It is the Fraud, Cyber & Governance Conference: Creating a Fraud-Resistant Organization<\/em><\/strong>. This conference will be held February 15-16 virtually, sponsored by Financial Executives International<\/em>, Behavioral Forensics Group, LLC,<\/em> and the University of Dayton Center for Cybersecurity and Data Intelligence.<\/em> CPE-qualified (8 hours), the 2023 FEI\/B4G\/UDCC Conference topics include:
\no Reframing Your Understanding of Fraud;
\no Why Does Fraud Happen?
\no The Escalating Threat of Cyber Fraud
\no Emerging Issues in Fraud
\no Fraud Experiences
\no Tools and Competencies to Prevent\/Deter\/Detect Fraud
\no Governance: Creating and Leading a Fraud-Resistant Organization<\/p>\n

With world-class speakers (see the agenda), The Conference will blend thought leadership with concrete action suggestions and experiences. Click on link:<\/p>\n

https:\/\/financialexecutives.org\/fraud2023<\/a><\/p>\n

 <\/p>\n

BEHAVIORAL FORENSICS GROUPTM LLC<\/strong><\/p>\n

The Behavioral Forensics GroupTM LLC is<\/em> a team of professionals with vast experience in detecting fraud, understanding why it occurs, and in recommending steps to mitigate fraud incidence within the corporate workplace, particularly within higher-level (and therefore more costly to the enterprise) executives. The fields of investigation, organizational psychiatry, accounting and behavioral forensics, and law enforcement are represented within the Behavioral Forensics GroupTM LLC.<\/em> Acting in synergy to help organizations prevent, find, and\/or reduce fraud, B4GTM is a premier, pioneering practice in this field.
\nWe are blogging at:\u00a0http:\/\/www.bringingfreudtofraud.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

(By Jack Bigelow) Many human-made disasters (including fraud) on this planet can be traced back to some form of thinking at a critical decision point that goes something like this: \u201cI\u2019m good. My risks are low. I\u2019m going to go for it.\u201d But this misplaced confidence could be eclipsing a residual anxiety in the unconscious … Continue reading \u201cFraud\u2019s Not Gonna Happen to Me\/Us\u201d<\/span> →<\/span><\/a><\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-965","post","type-post","status-publish","format-standard","hentry","category-audit"],"_links":{"self":[{"href":"https:\/\/bringingfreudtofraud.com\/index.php?rest_route=\/wp\/v2\/posts\/965","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bringingfreudtofraud.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bringingfreudtofraud.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bringingfreudtofraud.com\/index.php?rest_route=\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/bringingfreudtofraud.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=965"}],"version-history":[{"count":3,"href":"https:\/\/bringingfreudtofraud.com\/index.php?rest_route=\/wp\/v2\/posts\/965\/revisions"}],"predecessor-version":[{"id":969,"href":"https:\/\/bringingfreudtofraud.com\/index.php?rest_route=\/wp\/v2\/posts\/965\/revisions\/969"}],"wp:attachment":[{"href":"https:\/\/bringingfreudtofraud.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=965"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bringingfreudtofraud.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=965"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bringingfreudtofraud.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=965"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}