Fraud Risk Consulting

Forensic auditing is emerging as an area of interest for many companies. Making a career in forensic auditing requires a combination of specialized skills and knowledge. Professional certifications such as CA/ CS/ CPA/ CFE/ LLB may help. Here are the key skills finance professionals would require to land such jobs: ✅ Accounting and Financial Expertise: A strong foundation in accounting principles, financial analysis, and auditing procedures is essential. Understanding financial statements, forensic accounting techniques, and fraud detection methods is crucial. ✅ Investigative Skills: Forensic auditors need sharp investigative skills to uncover financial irregularities, discrepancies, and fraud schemes. This includes attention to detail, analytical thinking, and the ability to connect dots in complex financial transactions. Having a skeptical mindset is essential. ✅ Legal Knowledge: Familiarity with relevant laws, regulations, and legal procedures related to financial crimes and fraud investigations is necessary. This includes knowledge of criminal law, civil law, evidence gathering, and courtroom procedures. ✅ Data Analysis and Technology: Proficiency in data analysis tools and forensic software is important for processing large volumes of financial data, identifying patterns, and detecting anomalies. Knowledge of cybersecurity and digital forensics is also beneficial. ✅ Communication Skills: Effective communication skills, both verbal and written, are crucial for forensic auditors. They need to prepare detailed reports, present findings to stakeholders, and testify as expert witnesses in legal proceedings. ✅ Ethical Integrity: Forensic auditors must uphold high ethical standards and integrity. They often deal with sensitive financial information and must maintain confidentiality, objectivity, and impartiality throughout investigations. ✅ Critical Thinking and Problem-Solving: The ability to think critically, analyze complex situations, and develop innovative solutions is essential. Forensic auditors must be able to navigate through challenging cases and adapt to changing circumstances. ✅ Continual Learning and Adaptability: The field of forensic auditing is constantly evolving due to technological advancements, regulatory changes, and new fraud schemes. Forensic auditors need to stay updated with industry trends, attend training programs, and adapt to new challenges. By developing and honing these skills, individuals can build a successful career in forensic auditing, contributing to the prevention, detection, and investigation of financial crimes and fraud within organizations. I am planning to write about careers finance professionals can pursue and skills required to build the same. Do let me know in the comments if you would be interested! LinkedIn LinkedIn Guide to Creating #linkedin #finance #careersinfinance #forensicaudit #LIPostingChallengeIndia

As a SOC Analyst, it's tempting to rely on VirusTotal as the Ultimate Solution for spotting threats, but attackers know how to stay ahead. Here's a real-world example that demonstrates why behavioral detection matters more than static signatures: When analyzing binaries like Mimikatz, you might spot a string like "mimikatz_doLocal" being flagged as Malicious. However, attackers can easily evade this detection by tweaking the source code: 1- Changing strings: Replace "mimikatz_doLocal" with "anythingkatz_doLocal". 2- Renaming commands: Instead of "sekurlsa::logonpasswords," attackers use "securelsa::loginpasswordz." 3- Renaming prompts and executables: Change "mimikatz.exe" to "mimidogz.exe" and alter the application's interface to say "mimidogz." After recompiling, these small changes can bypass the AV and VirusTotal checks. Even if one part of the binary is flagged (like an error string), attackers will iterate until it’s clean. What Should SOC Analysts Do? - Focus on Behaviors: Tools like Mimikatz perform specific malicious actions (e.g., dumping LSASS memory). Behavioral detection makes it harder for attackers to evade. - Use Advanced Tools: Rely on EDR/XDR solutions that analyze patterns like process injection, suspicious memory reads, or credential dumping. - Contextualize Threats: Don't stop at VirusTotal scores. Investigate anomalies in logs, traffic patterns, and system behaviors. - Proactive Threat Hunting: Regularly hunt for renamed binaries, odd command usage, and unusual process trees in your environment. - Train Your Mindset: Always ask, "What is this file trying to achieve?" rather than, "What is its VirusTotal score?" Remember, attackers evolve their tactics to exploit over-reliance on static detections. To truly defend your organization, think like an attacker and hunt for what they do, not just the tools they use. #SOCAnalyst #ThreatHunting #DetectionTips #CyberSecurity

Your Procurement Cycle is a Minefield of Risks. Are You Walking Blind? Procurement Excellence | 17 JAN 2026 - Procurement always navigates hidden risks that can derail projects, inflate costs, and tarnish reputations. Ignoring them? That’s the real risk. Here are 7 CRITICAL risks lurking in your procurement cycle + how to defuse them: #1. Performance Risk ↳Suppliers underdelivering on quality/timelines. ↳Fix: Clear KPIs. Penalty clauses. Regular performance reviews. #2.Specification Risk ↳Vague requirements lead to wrong deliverables. ↳Fix:Collaborate with stakeholders upfront & freeze specs before sourcing. #3. Supplier Financial Risk ↳Bankrupt suppliers = halted operations. ↳Fix:Run credit checks, diversify suppliers, demand financial disclosures. #4. Reputation Risk (ESG) ↳Child labor or pollution in supply chain = brand crisis. ↳Fix: Supplier ESG screenings. Audits. Sustainability clauses. #5. Price Volatility Risk ↳Market swings crush budgets. ↳Fix: Fixed-price contracts. Hedging strategies. Cost-indexed clauses. #6. Fraud & Corruption Risk ↳Kickbacks, fake invoicing, collusion. ↳Fix: Segregate duties. Whistleblower policies. AI-powered anomaly detection. #7. Contract Leakage Risk ↳Unused discounts, auto-renewals, scope creep. ↳Fix:Centralized contract repository. Milestone alerts. Spend analytics. #Bonus I: Over-Reliance Risk ↳One supplier holds 80% of your spend. ↳Fix: Strategic supplier diversification. #Bonus II: Cybersecurity Risk ↳Suppliers accessing your systems >>data breaches. ↳Fix:Vendor security assessments. Zero-trust architecture. #Bonus III: Supply Disruption Risk ↳Natural disasters, geopolitics or supplier failures. ↳Fix: Dual sourcing, Safety stock & Real-time supply chain monitoring. Risk Mitigation Playbook: ✅ Proactive: Map risks at EVERY stage ✅ Use AI for predictive analytics, blockchain for traceability. ✅ Train & empower teams to spot red flags early. ✅ Collaborate & partner with Legal, Finance, Operations. Risk-aware procurement NOT about avoiding suppliers Procurement can’t own risk alone! Build resilient, ethical & agile supply chains that drive sustainable value. What risks keep YOU up at night? ♻️ Share to help someone in your network. ➕️ Follow Frederick for more content like this. #ProcurementExcellence #RiskManagement #Leadership

Subscription fraud is often invisible - but its impact is significant. Fake free trials and recurring payment abuse rarely appear fraudulent at the start. They typically mimic legitimate user behavior, making detection challenging. Common fraud patterns in subscription businesses • Multiple accounts created by the same user • Use of temporary emails and shared or stolen cards • Abnormal usage during trial periods • Intentional chargebacks after extensive consumption Business impact • Revenue leakage • Increased chargeback ratios • Payment gateway penalties • Distorted growth and retention metrics • Higher customer acquisition costs How fraud is detected effectively • Device and IP intelligence • Behavioral signal analysis • Payment reuse and failure patterns • Usage anomalies during trials and renewals Prevention strategies that scale • Limit free trials per device and payment method • Apply step-up verification for high-risk users • Monitor usage prior to renewals • Block bots and high-risk IP ranges • Leverage AI models to identify evolving fraud patterns Outcomes of a strong fraud strategy • Reduced fake users • Lower chargebacks • Accurate business metrics • Protected recurring revenue • Improved trust with genuine customers Fraud prevention is not friction. It is a safeguard for legitimate users and sustainable growth.

🚨 AI + Font Forensics = ₹68 Lakh Tax Fraud Busted in Hyderabad 🚨 The Income Tax Department in Hyderabad recently used AI-powered font forensics to uncover a Long-Term Capital Gains (LTCG) fraud worth ₹68.7 lakh. A taxpayer claimed improvement costs from a bill dated 2002, but AI tools flagged the use of the Calibri font—which was only released in 2006–07. This inconsistency exposed the document as forged, prompting a revised ITR and additional taxes paid . 🔍 Why This Matters for Auditors & Risk Professionals 1. Innovative Forensics AI isn't just for big data and predictive insights—it’s now a frontline tool in document authenticity verification. Font analysis is a low-cost, high-impact method. 2. Red-flag Awareness It’s not enough to verify the content—verify the context. Details like font age, metadata timestamps, or even document origin can reveal fraud. 3. Regulatory Relevance Tax authorities are stepping up forensic capabilities. Expect similar methods to be applied in other regulatory areas—GST, money laundering, financial filings. 4.Upgrade Your Toolkit Incorporate similar forensic checks—font, metadata, version histories—into due diligence, vendor audits, expense claim reviews, and whistleblower investigations. ✅ Action Steps ✅ Add font & metadata analysis to your internal audit and investigation playbooks. ✅ Train teams to look beyond signatures—validate document authenticity at a granular level. ✅ Evaluate simple AI tools that can detect anomalies in fonts or document history. ✅ Share this knowledge in audit committees, risk forums, and compliance training. This case is another reminder: fraudsters adapt, but so must we. In a world where even fonts can betray deception, staying ahead requires curiosity, precision, and technology-backed scrutiny. What forensic techniques are you using to catch today’s more subtle frauds? #Forensics #Audit #RiskManagement #AI #InternalAudit #Compliance

He is a CA who has spent nearly two decades in forensic accounting. He has personally studied 1,000+ companies in India & over 300 companies globally to uncover what most investors miss. He has faced police threats, lawsuits, & even spent 2 weeks in jail for exposing a corporate fraud, yet he continues to share his findings transparently. He has identified multiple reporting blunders, including a GST fraud by inflating revenue through inter-depot transfers, as well as an interesting case of a car company claiming a fake 24-month waiting list. He is none other than Nitin Mangal, the Founder of Trudence Capital Advisors Private Limited and a veteran in the Forensic Audit space. In the latest episode of Konversation with Kushal, we went deep into the art of Forensic Research, where Nitin shared his framework for finding red flags in companies. We decoded the subtle manipulation of Closing Inventories to boost gross margins and why the Cash Yield ratio is a useful weapon for spotting scams before they blow up. We also covered real-world case studies like Stove Kraft, EaseMyTrip and Zaggle, exploring why high Related Party Transactions and selective accounting practices are major red flags. This episode is powered by Groww. #linkedin #linkedinforcreators #investing #forensicaccounting #stockmarket #wealth #kushallodha

Welcome to 𝐓𝐡𝐞 𝐏𝐚𝐲𝐦𝐞𝐧𝐭𝐬 𝐀𝐜𝐚𝐝𝐞𝐦𝐲 by Checkout.com — Episode 6 👋 𝐓𝐡𝐞 𝐓𝐲𝐩𝐞𝐬 𝐨𝐟 𝐅𝐫𝐚𝐮𝐝 𝐢𝐧 𝐏𝐚𝐲𝐦𝐞𝐧𝐭𝐬: ► Fraud in payments is a growing challenge for merchants, issuers, and payment processors. Fraudulent transactions not only cause financial losses but also damage a merchant’s reputation ► To combat fraud effectively, businesses must leverage fraud detection tools, authentication techniques, and dispute management strategies to stay ahead of bad actors while maintaining a seamless customer experience — 𝐓𝐡𝐞 𝐓𝐲𝐩𝐞𝐬 𝐨𝐟 𝐅𝐫𝐚𝐮𝐝 & 𝐄𝐱𝐚𝐦𝐩𝐥𝐞𝐬 ► 3-𝐏𝐚𝐫𝐭𝐲 𝐅𝐫𝐚𝐮𝐝 – This occurs when a fraudster uses stolen card details to make purchases. ► 𝐅𝐫𝐢𝐞𝐧𝐝𝐥𝐲 𝐅𝐫𝐚𝐮𝐝 – A cardholder disputes a legitimate transaction, either by mistake or to reverse a purchase. ► 𝐆𝐨𝐨𝐝 𝐅𝐚𝐢𝐭𝐡 𝐏𝐚𝐲𝐦𝐞𝐧𝐭 𝐃𝐢𝐬𝐩𝐮𝐭𝐞𝐬 – The customer disputes a payment due to issues with product quality or fulfillment. Fraud prevention strategies must be tailored to identify, assess, and respond to these types of fraud in real time. — 𝐓𝐡𝐞 𝐏𝐫𝐨𝐜𝐞𝐬𝐬: 𝐂𝐮𝐭𝐭𝐢𝐧𝐠 𝐃𝐨𝐰𝐧 𝐨𝐧 𝐂𝐚𝐫𝐝 𝐅𝐫𝐚𝐮𝐝 1️⃣ 𝐅𝐫𝐚𝐮𝐝 𝐃𝐞𝐭𝐞𝐜𝐭𝐢𝐨𝐧 𝐄𝐧𝐠𝐢𝐧𝐞𝐬 – These tools analyze transaction data (e.g., IP addresses, device data...) to assess fraud risks. 2️⃣ 3𝐃 𝐒𝐞𝐜𝐮𝐫𝐞 𝐀𝐮𝐭𝐡𝐞𝐧𝐭𝐢𝐜𝐚𝐭𝐢𝐨𝐧 – Adds an extra layer of protection by requiring customer verification for high-risk transactions. 3️⃣ 𝐌𝐚𝐜𝐡𝐢𝐧𝐞 𝐋𝐞𝐚𝐫𝐧𝐢𝐧𝐠 & 𝐀𝐈 – Predicts fraud patterns based on historical transactions and behavioral analytics. 4️⃣ 𝐓𝐨𝐤𝐞𝐧𝐢𝐳𝐚𝐭𝐢𝐨𝐧 – Converts sensitive payment data into tokens, reducing the risk of stolen card details being misused. 5️⃣ 𝐂𝐡𝐚𝐫𝐠𝐞𝐛𝐚𝐜𝐤 𝐏𝐫𝐞𝐯𝐞𝐧𝐭𝐢𝐨𝐧 – Strategies like real-time alerts and clear billing descriptors — 𝐓𝐡𝐞 𝐃𝐚𝐭𝐚: 𝐊𝐞𝐲 𝐃𝐚𝐭𝐚 𝐏𝐨𝐢𝐧𝐭𝐬 𝐭𝐨 𝐑𝐞𝐝𝐮𝐜𝐞 𝐅𝐫𝐚𝐮𝐝 Fraud detection relies on rich transaction data to identify suspicious activity and block fraudulent payments: ► Customer Name – Verifies the cardholder’s identity and checks for patterns of fraudulent behavior (e.g., fake names...). ► IP Address – Flags transactions from high-risk regions or locations inconsistent with the customer’s normal behavior. ► Billing Address – Used for Address Verification System (AVS) checks to confirm that the billing address matches the cardholder’s bank records. ► Delivery Address – Helps detect fraudulent transactions by assessing mismatched shipping details. ► Email Address – Identifies fraud patterns, such as disposable email addresses or emails associated with prior chargebacks. Providing complete and accurate data in payment requests enhances fraud detection and reduces false declines, improving both security and conversion rates. —— Source: Checkout.com x Connecting the dots in payments... ► Sign up to 𝐓𝐡𝐞 𝐏𝐚𝐲𝐦𝐞𝐧𝐭𝐬 𝐁𝐫𝐞𝐰𝐬 : https://lnkd.in/g5cDhnjC ► Connecting the dots in payments... and Marcel van Oost

Free Resource Friday! If 2024 has taught us anything, it’s that fraud remains one of the most critical compliance challenges we face today. From APP fraud to synthetic identity scams, money muling, and cross-border fraud, financial criminals are evolving faster than ever. For compliance professionals, fraud risk assessment is no longer optional—it’s a must-have for proactive risk mitigation, regulatory alignment, and reputational protection. 🔍 ACAMS has released a FREE best practice guide on Fraud Risk Assessment, offering: ✔️ A step-by-step methodology for conducting robust fraud risk assessments ✔️ Insights into emerging fraud threats and trends ✔️ A risk prioritization matrix to help organizations focus on high-impact risks ✔️ Strategies to break down silos and create a multi-disciplinary fraud risk approach ✔️ Real-world examples, frameworks, and a fraud risk register template 💡 Key takeaway? Fraud is not just an AML issue—it’s an enterprise-wide risk. Organizations that embed fraud risk assessments into their compliance framework will be better equipped to handle regulatory changes and reduce financial crime exposure. #FraudPrevention #Compliance #RiskAssessment #ACAMS #FinancialCrime

If you haven’t practiced your incident plan lately, you don’t really have one. When something breaks, nobody opens a PDF. They grab phones and start guessing. Run a short tabletop: pick one scenario, run through it for 45 minutes, and see what would happen. Involve outside breach counsel. They’re the best quarterback for any incident, so bring them into the tabletop too. Then practice the plan, revise the plan, print the plan. How often? ↪ Full tabletop: every 6 months (or after major changes). ↪ Lighter drills: quicker single-scenario runs in between. ▶ Focus on: who declares the incident, how decisions are made, how you try to claw back money if it’s moved, and how you reach people if systems are down. ▶ Scenarios to choose from this week: Account takeover, Funds transfer fraud, Ransomware. #JasonMakevich #Cybersecurity #IncidentResponse #BusinessContinuity #Tabletop #RiskManagement

The Leap from Learning to Doing—My First Big Break in Forensic Accounting The Truth About Getting Work in This Field I wish I could tell you that getting my first case was easy. All I needed was my education, a few research papers, and a passion for investigation. But that’s not how it worked for me. 𝗣𝗼𝘄𝗲𝗿 𝗼𝗳 𝗡𝗲𝘁𝘄𝗼𝗿𝗸𝗶𝗻𝗴 𝗮𝗻𝗱 𝘁𝗵𝗲 𝗚𝗼𝘃𝗲𝗿𝗻𝗺𝗲𝗻𝘁 𝗕𝗿𝗲𝗮𝗸 My first major forensic assignment came from government work, from someone in my network who knew my capabilities and trusted me enough to call me in. Large organizations don’t just look for skilled people—they look for trusted people built through relationships. If you want to break into this field: ✅ Actively participate in industry events. ✅ Connect and add value in discussions. ✅ Be visible in professional circles 𝗚𝗹𝗼𝗯𝗮𝗹 𝗘𝘅𝗽𝗼𝘀𝘂𝗿𝗲—𝗦𝗲𝗲𝗶𝗻𝗴 𝗕𝗲𝘆𝗼𝗻𝗱 𝗠𝘆 𝗢𝘄𝗻 𝗜𝗻𝗱𝘂𝘀𝘁𝗿𝘆 Attending international fraud conferences was another turning point. I realised how different fraud trends, investigative techniques, and regulatory frameworks were across countries. It opened my mind to: 🌍 The role of AI in fraud detection 🌍 Behavioral analysis in forensic engagements 🌍 Complex international money laundering investigations It’s not just about networking—it’s about expanding our perspective. 𝗟𝗶𝗳𝗲𝗹𝗼𝗻𝗴 𝗟𝗲𝗮𝗿𝗻𝗶𝗻𝗴—𝗦𝘁𝗮𝘆𝗶𝗻𝗴 𝗥𝗲𝗹𝗲𝘃𝗮𝗻𝘁 𝗶𝗻 𝗮 𝗖𝗵��𝗻𝗴𝗶𝗻𝗴 𝗙𝗶𝗲𝗹𝗱 Technology like AI, big data analytics, and machine learning continually transform fraud detection. I started learning AI skills, not to become a data scientist but to stay ahead in forensic investigations, reinventing myself constantly! Looking back, my journey wasn’t easy, but it was worth it. For anyone trying to build a career in forensic accounting (or any niche field), my advice is this: ✔ Master your domain. ✔ Make your expertise visible. ✔ Build the right network. ✔ Expose yourself to global knowledge. ✔ Never stop learning. What’s one skill or network connection that helped you land a big career opportunity? Drop a comment—I’d love to hear your story! #forensicaccounting #careerjourney #networkingsuccess