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Bribery Schemes Part 3: Detecting and Preventing Employee Expense Fraud

The issues that you can’t see are often the most damaging. While employee expense fraud is one of the most challenging forms of fraud for companies to detect, it is also one of the most common and can easily result in FCPA enforcement action.

According to The Association of Certified Fraud Examiners’ 2022 Report to the Nations, which analyzed over 2,000 cases worldwide, expense fraud lasted for an average of 18 months before detection, making it one of the longest-lasting forms of fraud. The report indicated that expense fraud, which accounted for 11 percent of all cases, is also the third most common form of fraud that companies face.

Undeniably, employee expense fraud is financially damaging and can take many forms, including fictitious expenses, mislabeled expenses, or duplicate reimbursements. It’s essential that organizations know how to properly detect signs of fraud to protect themselves from enforcement actions and losses.

In this webinar, we provide valuable information to help you reduce your company’s risk of employee expense fraud.

We cover:

  • checkmarkExamples of past FCPA violations involving employee expenses
  • checkmarkHow to detect abnormal transactions and curtail corruption and fraud
  • checkmarkInternal controls that can proactively detect and prevent violations

Speakers:
Casey Charkowick-1 Kevin Turner

Casey Charkowick
Risk Transformation
Executive | Lextegrity

Kevin Turner
Director of Compliance Monitoring
and Assessments | Stryker

Casey Charkowick is a business-centric attorney and corporate compliance subject matter expert with expertise in everything from global anti-corruption to US and foreign government contracts. Prior to Lextegrity, Casey served as Assistant General Counsel for compliance at Textron Inc., a Fortune 500 company with over 33k employees. He was responsible for overseeing and enhancing its global corporate ethics and compliance program.

In his role at Stryker and in previous consulting relationships, Kevin advises multinational corporations on monitoring and mitigating compliance risks, as well as investigating allegations related to fraud and corruption. He is focused on leveraging outcomes and lessons learned to enhance compliance programs and strengthen collaboration between compliance and business partners.

About Lextegrity

Lextegrity provides data analytics and automation technology for compliance and audit professionals to prevent and detect risks related to fraud, corruption, sanctions, kickbacks, and conflicts of interest.

Lextegrity’s software has been before regulators globally and was even cited by the SEC. It has been chosen after the appointment of compliance monitors or the start of investigations and has helped resolve those matters, including helping to secure a DOJ declination.

 

About Stryker

Founded in 1941, Stryker is one of the world’s leading medical technology companies. Striving to fulfill its mission of making healthcare better, Stryker offers innovative products and solutions in Orthopedics, Medical and Surgical, and Neurotechnology and Spine that help improve patient and hospital outcomes. The Fortune 500 company’s products are sold in over 75 countries across the globe, and it employs more than 46,000 people globally.