Financial Analyst Steals Millions from UMass Medical; Fraud Red Flags Ignored

WORCESTER, Mass. — The Boston Globe reported (9/15/13) that University of Massachusetts Medical School leaders said an internal investigation has revealed a five-year $3.4 million theft by an employee who died in a December 2012 car accident. The investigation found a financial analyst mis-directed funds from payments intended for the State of Massachusetts Medicaid insurance program, called MassHealth.  The […]

Banks Continue To Get Slammed By CD Fraud

Background Certificate of deposit fraud has always been a weak link in banks’ lines of defense. We have seen a steady incidence of certificate of deposit embezzlement cases amongst financial institutions over the last 25 years. There are no signs of this problem abating. Surprisingly, a majority of banks and […]

RAS Launches Fraud Management Software

Boston – Risk Analytics Strategies, LLC of Dracut, MA announces the release of FraudVision™, the “first of its kind” software that specifically addresses the automation of fraud risk assessments. Much has been written about the importance of conducting regular Fraud Risk Assessments (FRA). These are detailed evaluations of an organization’s […]

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