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James T. Foggie commented on the post, ICE 5.1 Telling a Story through Visualization, on the site 7 years, 11 months ago
Blake, you hit the nail on the head! I especially think you comments apply to internal auditors. It is the job of our internal auditors to ensure that our IT units are in compliance with Sarbanes-Oxley requirements. The specific tasks of the internal auditor is to ensure that all business units can pass external SOX audits indicating 100%…[Read more]
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James T. Foggie commented on the post, NIST 800 60 V1R1 Guide for Mapping Types of Information and Information Systems to Security Categories, on the site 7 years, 11 months ago
Very interesting site for sure. Some of the items listed under the ‘initial detection of occupational fraud’ tab reminds me of a situation my wife encountered. My wife worked for a large credit union; she was the regional manager for the state of New Jersey. One of her branches had an issue which required an immediate audit of the branch. From…[Read more]
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James T. Foggie wrote a new post on the site MIS5208 Spring 2017 7 years, 11 months ago
Professor,
Are supposed to post our presentations on our class site?
James
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James T. Foggie commented on the post, ICE 5.1 Telling a Story through Visualization, on the site 7 years, 11 months ago
David, it is hard to say if a background check would have uncovered the potential problem. From the outside looking in, this was a person with a wife, a suburban home, 2 kids and big smile! I am not sure whether or not financial problems existed in the household. As for the drinking, I would describe him as a functioning alcoholic. It was until…[Read more]
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James T. Foggie wrote a new post on the site MIS5208 Spring 2017 7 years, 11 months ago
While completing this week’s reading assignment, I could not help to recall an act of fraud that was committed by a good friend of mine. In chapter 2 of the ‘Computer-Aided Fraud, Prevention & Detection’ text, […]
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This is a really compelling story – told first hand. This is a very common issue – gambling addiction. One compensating control for this type of fraud is to do periodic credit checks (annually) on high-value, high risk employees. Folks that get themselves into trouble like this usually have deteriorating credit scores.
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James: great example and I am sorry to hear about your friend; that is an unfortunate series of events. Your friend, however, is a great example of what a “motivated” employee can do when the opportunity presents itself and the rationalization is there. I am sure that once he noticed he could get away with taking the money, it started as just borrowing it to help himself get out of a jam. A slippery slope and your story tells what usually happens next. This situation is why, in my opinion, employees are the strongest and weakest link in an organization. Like you said, here is a great guy who probably started off as a dedicated, model employee, and then several bad decisions later (that had nothing to do with work or his company) and he is exploiting a lack of controls for personal, criminal financial gain. It is incredibly difficult to mitigate this type of risk because the pattern, if there even is one, is so hard to detect. To professor Ferrara’s point, how many employers need to look deeper into employee evaluations, and not just for new hires? Furthermore, how does a company even begin to identify these people – what are the characteristics / requirements for this type of annual check outside of the type of position they hold? Do you think your friend would have been identified as a high risk, high value employee if his company had similar controls?
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David, it is hard to say if a background check would have uncovered the potential problem. From the outside looking in, this was a person with a wife, a suburban home, 2 kids and big smile! I am not sure whether or not financial problems existed in the household. As for the drinking, I would describe him as a functioning alcoholic. It was until after the report of this case, did we (his friends) discover he had several DUIs which significantly impacted his ability to function in his career field. The personal demons definitely led to the ultimate crime of financial fraud.
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James T. Foggie posted a new activity comment 7 years, 11 months ago
Hi everyone. my name is James Foggie. I am originally from Philadelphia. I currently reside in South Jersey and work in the central part of the state. I am an IT manager with over 20 year of experience, mainly in data center operations. I have a business undergraduate degree and a master’s degree in Management Information Science; both from T…[Read more]
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James T. Foggie changed their profile picture 8 years, 11 months ago
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James T. Foggie's profile was updated 8 years, 11 months ago
James, that is entirely up to you. If you want to post your presentation you can do that. I will set this up so you can also add files to your posts. You can also share them via Google Drive, and then post the link here.