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HOW TO
PREVENT FRAUD
WITH TAMPER
EVIDENCE
John B. Harris
Senior Vice President
Product Management
WHAT IS FRAUD??
The use of one’s occupation for personal enrichment through the deliberate misuse
or misapplication of the employing organization’s resources or assets.
Financial Statement
FraudCorruption
Asset
Misappropriation
Why you should care about fraud
Top “red flag” behaviors of fraudsters
How to detect document tampering
Best practices for tamper evidence
What you can do to prevent fraud
AGENDA
$5M
WHY YOU SHOULD CARE ABOUT FRAUD
The amount the SEC f ined Wells Fargo in a recent
document tampering case
The average company loses 5% of its annual
revenue to fraud.
What is 5% of your
company’s revenue?
WHY YOU SHOULD CARE ABOUT FRAUD
Small businesses face higher losses than those with
more employees.
WHY YOU SHOULD CARE ABOUT FRAUD
The Cost of Fraud
****
SSNDOB
$$$
$$$
Costly Court Battles
Tarnished Reputation
Regulatory Fines
WHY YOU SHOULD CARE ABOUT FRAUD
REAL WORLD FRAUD…
…REAL WORLD DAMAGES
2000 Lost Their Jobs
$3.8B Loss26th Largest Bank Made Insolvent
>$1.5B Loss
Why you should care about fraud
Top “red flag” behaviors of fraudsters
How to detect document tampering
Best practices for tamper evidence
What you can do to prevent fraud
AGENDA
THE TYPICAL FRAUDSTER
31-45 years old
First-Timer
Worked for 1-5 years
Accounting
Sales Executives Customer Service
PurchasingFinance
Operations
TOP “RED FLAG” BEHAVIORS OF FRAUDSTERS
Certain behaviors are common
among fraudsters before their fraud
is discovered. At least one “red flag”
behavior was seen in 92% of cases.
TOP “RED FLAG” BEHAVIORS OF FRAUDSTERS
Living Beyond
Their Means
TOP “RED FLAG” BEHAVIORS OF FRAUDSTERS
Financial
Difficulties
TOP “RED FLAG” BEHAVIORS OF FRAUDSTERS
Unusually Close Relationship
with Vendors or Clients
TOP “RED FLAG” BEHAVIORS OF FRAUDSTERS
Unwillingness to Share
Responsibilities
TOP “RED FLAG” BEHAVIORS OF FRAUDSTERS
A “Wheeler
Dealer”
Attitude
TOP “RED FLAG” BEHAVIORS OF FRAUDSTERS
Suspicious
&
Defensive
TOP “RED FLAG” SIGNS OF FRAUD
Too Good to
Be True
Contract
Issues
Why you should care about fraud
Top “red flag” behaviors of fraudsters
How to detect document tampering
Best practices for tamper evidence
What you can do to prevent fraud
AGENDA
WHAT IS TAMPERING?
WHAT IS TAMPERING?
TAMPERING IN A DIGITAL WORLD
WELLS FARGO DOCUMENT TAMPERING
2010 2012
TAMPER-EVIDENT DOCUMENTS
2010 2012
=?X
SIGNIX TAMPER-EVIDENCE
BOB MOLLY
Why you should care about fraud
Top “red flag” behaviors of fraudsters
How to detect document tampering
Best practices for tamper evidence
What you can do to prevent fraud
AGENDA
BEST PRACTICES FOR TAMPER EVIDENCE
1. Always look for the
green checkmark on
signed documents
BEST PRACTICES FOR TAMPER EVIDENCE
2. Educate employees about
tamper evidence
BEST PRACTICES FOR TAMPER EVIDENCE
3. Make sure documents are
tamper-evident at every signature step
Why you should care about fraud
Top “red flag” behaviors of fraudsters
How to detect document tampering
Best practices for tamper evidence
What you can do to prevent fraud
AGENDA
WHAT YOU CAN DO
Look for
those flags!
WHAT YOU CAN DO
Enforce
Contracts
WHAT YOU CAN DO
Educate
About Risks &
Prevention
WHAT YOU CAN DO
Tip Hotline
Spot Checks
WHAT YOU CAN DO
Implement
Tamper Evidence
For more tips:
Association of Certified
Fraud Examiners
(ACFE)
www.acfe.com/rttn.aspx
WHAT YOU CAN DO
OTHER RESOURCES
signix.com/beginners-guide-
to-digital-signature-tamper-
evidence
The Introductory Guide
to Digital Signature
Tamper Evidence
Want to see a demo of
SIGNiX’s tamper evidence?
Email [email protected] or call 423-305-7048
THANK YOU!
