COLD STAR TECH At the Intersection of Compliance Cultures, Time-Sensitive Missions, and Desire To Be The Best.

Fraud Detection

A YEAR AGO (May 2019) I HAD LUNCH WITH A PRINCIPLE DATA SCIENTIST AT A MAJOR US FIRM AND A FORENSIC ACCOUNTANT…AND THE SUBJECT WAS FRAUD

The data scientist is now my chief data scientist. The fraud accountant was a former NYC PD Lt…he had some awesome stories echoing EVERYTHING I have been saying about:

– companies not checking facts

– executives signing invoices without looking because “everyone else did”

– no oversight on accounting–the same person in charge of receiving payments and issuing receipts so scams like the one at a major US railway described in my interview with Matt Daniell can keep happening

– hardly anything written down, so external AND internal customer experience varied wildly

– consistent divergence from what the people SAID the process was like for how they were doing the work compared to THE ACTUAL WAY they were doing the work.

You should be concerned about all of this. Especially if you’re a business owner.

If you think, “Well, that isn’t going on in MY organization”…ha ha. You are dead wrong.

If you want the bad apples identified and rooted out, your processes cleaned up so what’s happening is what people say is happening, we should speak.

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