By
3 Instances Where E-Mail Mining For Fraud Detection…
Could’ve Prevented Financial Loss
Do You Recognize Any Of These Corporate Fraud
Headlines?Breaking
News
It’s ok if you don’t remember…
because we’ll give you all of the details!
The databahn Times
Mike Kail
Senior Netflix executive receives bribesCase # 1:
• Mike Kail was the former VP of Information Technology Operations
• Kail made a deal with IT service providers to receive bribes of 12% - 15% of the total deal value
• Kail earned $490,000 in kickbacks
• Netflix uncovered the fraud after Kail left
• Netflix uncovered e-mails discussing “referral fees”
• Kail got away with the crime because he was an upper-level employee
The databahn TimesBritish software company,
Autonomy, falsifies numbersCase #
2:• HP acquired Autonomy for $11.1 billion in 2012
• HP discovered Autonomy misrepresented its finances – by $5.55 billion
• HP filed a $5.1 billion lawsuit against Autonomy
• E-mails were discovered between the former CFO and founder
• Included the phrases “covered up” and “imaginary deals”
• E-mails were checked and the truth was discovered after the deal had gone through
The databahn TimesFormer law partner shares private
information with opposing attorneyCase #
3:
• A former law partner at Willkie Farr & Gallagher, Keila Ravelo, had suspicious communications with the opposing counsel
• Ravelo had an established friendship with the opposing counselor
• The law firm found e-mails and attachments concerning the American Express litigation
• The opposing counselor sent Ravelo documents secured under the American Express litigation protective order
What These Headlines Have In Common…
Besides Fraud
The frauds were all detected in the
company e-mail!
FRAUD
!
?
Proof of Fraud: Autonomy E-mail
From The Telegraph
E-Mail conversation between the CFO and founder
E-mail Mining Would Have Saved…
Time
Money
Median fraud duration in 2014 was 18 months
Median loss in 2014 was $145,000
*stats from Association of Certified Fraud Examiners’ Report to Nations
Mining
ReputationYour reputation is immeasurable
Internal Fraud Can Happen To Any Company
Small Company
Large Company
You need to implement a proactive approach!
You’ve Seen Enough Fraud In The News...
YOU
Don’t become the next headline!
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