Stealing from Within: Embezzlement & Data Theft


Presented by: Susan Orr and Dana Turner

The losses attributed to embezzlement are greater than those from all other financial crimes combined. When an institution experiences an embezzlement combined with a theft of its data, the potential losses can become astronomical. Embezzlement is both a "property" and a "people" crime -- it's not just a document or technological crime. Embezzlement is the intentional misuse or misappropriation of funds or property entrusted to an employee -- or some other person who has power, control, trust or authority over data, money or property.

"Hard and crunchy on the outside, soft and chewy on the inside" doesn't refer just to a Tootsie PopĀ®; it also describes strong perimeter security and weak internal controls. The financial services industry on the whole has taken significant steps to harden the perimeter, making it harder for someone on the outside to get into the internal network. However, internally they are "soft and chewy," leaving the internal network and confidential information exposed to insider threats. Despite the emerging external risks and threats, insider threats rank among the highest risks. Weak internal controls, lack of user activity monitoring, lax policies and procedures -- all contribute to the insider threat. A 2009 survey performed by Actimize reported that nearly 80 percent of financial institutions worldwide stated the insider threat has increased due to the economic downturn.

Embezzlement and data theft aren't just banking crimes, either. Data theft is often experienced by the institution's clients -- conservatorships and trusts, home health care workers, retail stores, restaurants, insurance, companies, auto dealerships -- just about any industry you can think of. Theft of an employer's identity and data has become one of the most prevalent crimes affecting financial institutions. This presentation provides a basic methodology and appropriate techniques for identifying potential -- and practicing -- data thieves who commit embezzlement.

To plan any investigative strategy, you have to understand the unique "people, places and things" involved so that you can identify potential witnesses and suspects, and know where to look for evidence. Embezzlement crimes usually contain an abundant evidence trail that most other crimes do not. But you have to know where to look and what you're actually looking for.

Presentation Topics
  • Identifying Potential Offenders
  • Motives For Committing Embezzlement
  • The Embezzler's Behavior
  • Where To Look For Clues
  • Trends & Statistics
  • Insider Risks & Threats
  • Controls & Mitigation
Presentation Objectives
This presentation is designed to help you:
  • Understand why embezzlement and data theft have become the nation's favorite financial crimes
  • Show the proven links between an organization's structure and its vulnerability to loss -- and the critical areas of risk
  • Craft an alliance between the Security, Information Systems, Audit and Human Resources functions to work together to resolve embezzlement and data theft issues
  • Demonstrate who embezzles, what they steal -- and why -- within your own organization
  • Learn what motivates an embezzler, where they look for opportunities -- and why data theft is used so often as the pathway to bigger crimes
  • Understand the true insider risk and threats
  • Learn mitigation techniques for reducing losses and "best practices" for improving data security
Presentation Audience
  • Security Officers
  • Information Systems Managers
  • Auditors
  • Human Resources Managers
About the Speakers: Susan Orr is president of Susan Orr Consulting, an IT regulatory compliance consulting and audit firm for the financial services industry. Susan is a former FDIC bank examiner, with over 18 years of examination, auditing, and risk management experience and holds the Certified Information Systems Auditor, Certified Information Security Manager, and a Certified Risk Professional designations. In addition to performing IT audit and consulting, she is a frequent speaker at financial institution conferences and has presented hundreds of seminars and webinars across the U.S.

Dana Turner is a security practitioner based in Pipe Creek, Texas. Dana has served as a law enforcement officer in several capacities -- including the investigation of business and banking crimes -- and he is celebrating his 38th year of crime and emergency services. As a speaker and conference facilitator, Dana has delivered thousands of platform, telephone and Internet presentations. He has designed and participated in continuing education programs offered by state and national banking and credit union associations, state and federal examining and law enforcement agencies -- and state and national security, audit and human resources organizations. Dana also served as the primary business continuity instructor for the FFIEC for several years.

(requires Windows Media Player and IE).

CD-ROM includes:
  • Complete presentation (including slides and audio)
  • Written Materials
  • Follow-up Q & A
You have the right under this license agreement for this CD-ROM to use this presentation on a single-workstation. Use on a network is in violation of the copyright agreements. CD may be used by multiple users at a given institution but may not be placed on a network or in any other multi-user environment.

This program was recorded in its entirety in May 2010. The CD-ROM includes program slides, materials (if available) and follow-up Q & A document.

Add to Cart:

  • Model: cd_theft0510
  • Manufactured by: Glia Group, Inc.

This product was added to our catalog on Monday 22 March, 2010.

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