as “unmanaged risks.” The term “unmanaged” connotes the practical difficulties associated with managing fraud risk effectively and dynamically. In recent years, while the number of publicized frauds—unauthorized usage of credit and ATM cards, checking account fraud, Nigerian scams, etc.—increased, these cases merely constituted the tip of the iceberg. Estimates are that just 20% of frauds are e...

We identify clawback triggers from firms’ proxy statements (Form DEF 14A) and use the likelihood of restatements to proxy for financial reporting quality. Based on a sample of 578 U.S. firms that voluntarily adopt clawback provisions during 2003-2009, when restatement-based triggers could be decomposed into two types: fraud and unintentional error, and we do observe the evidence that using frau...

We exploit a unique merchant-level dataset from the monopoly payment card network in China to study payment card pricing. We develop hypotheses associating payment card pricing to card penetration rate, profitability and fraud risk. Our empirical analysis uses the variations in those three factors across industries to show that the card network charges a higher merchant discount for industries ...

The integrity of the data from clinical trials and of its use is an essential element of the scientific method, and of the trust one can have in this method. There are many examples of fraud, and they recur regularly. The objective of this round table was to work on the definition of fraud, on its recognition and prevention especially in the institutional system. Fraud involves an active decisi...

Previous analysis has shown that applying Bayes minimum risk to detect credit card fraud leads to better results measured by monetary savings, compared with traditional methodologies. Nevertheless, this approach requires good probability estimates that not only separates well between positive and negative examples, but also assesses the real probability of the event. Unfortunately not all class...

This paper addresses three main areas and develops a conceptual framework for identity fraud profiling. First, we identify the main contemporary profiling methods that are crime and/or business based. Second, accepting the current information systems (IS) facilitated attack channels and methods used by identity crime perpetrators (Jamieson & Stephens & Winchester 2007), we investigate how to be...

INTRODUCTION The 2008 Report to the Nation issued by the Association of Certified Fraud Examiners indicated that U.S. organizations lose almost 7 percent of their revenue to fraud, and that the Gross Domestic Product (GDP)-based annual fraud estimate for the United States alone was $994 billion (ACFE, 2008). Of course, we all now recognize that the scourge of fraud is a global phenomenon that e...