As the value of Bitcoin soars, the article below on the Thomson Reuters Government Blog considers whether it will find a place as a legitimate form of currency.
For several years, digital currency (Bitcoin, for example) has provided an arcane form of electronic value exchange used by a fairly limited number of people and organizations. That situation is rapidly changing, and digital or virtual currencies now seem to be on the verge of going mainstream. An indication that digital currencies are nearly ready for prime time was provided by the recent U.S. Senate hearings examining the use of virtual currency…read the full post.
Michelle Croteau, Director of Marketing Communications, Thomson Reuters
with Corey Licht, FindLaw Audience Team, Thomson Reuters
Your credit report can affect your chances of obtaining a credit card, finding housing, or even getting a job. That’s why it’s pretty surprising that nearly a quarter of Americans have never checked their credit report, according to a new survey by FindLaw.com.
Under federal law, the three major credit reporting agencies are required to provide free copies of credit reports on request. For those who are curious about their rights as consumers, FindLaw.com offers free, helpful information on credit reports and other aspects of consumer credit.
Every year, states lose millions of dollars in potential tax revenue due to fraudulently filed homestead exemptions. These range from exemptions claimed on multiple homes, on a property in which the filer is not the primary resident (i.e. rental properties), or on a home in which the primary resident is deceased. According to a 2012 Audit by New York State Comptroller, Thomas DiNapoli, New York lost $13 million due to homestead exemption fraud from 2011-2012 alone. And DiNapoli has predicted that the state will lose another $73 million in revenue by 2016 if steps are not taken to fight the growing problem. Think about that number: $73 million dollars. How would a loss like that affect your state? County and city budgets would have to be cut, school districts would suffer, and the overall quality of life would go down.
Now think about your state’s current revenue and budgets. What if you could increase these numbers by identifying homestead fraud and collecting the back taxes that are owed to your state?
By Daniel J. DeSimone, Thomson Reuters
Founded in 1988, the Federal Law Enforcement Foundation was originally created to provide financial assistance to family members of members of the Federal Bureau of Investigation (FBI) killed in the line of duty. The Foundation now provides financial assistance to family members of all federal and local law enforcement agencies whose loved ones are killed in the line of duty. In addition, the Foundation provides financial assistance to law enforcement officials suffering from a serious illness or recovering from a natural disaster. The Foundation provides funding to various programs, including scholarship programs and inner-city drug reduction programs among many others. The foundation has raised and donated over $15 million in the form of 2,500 grants and 1,500 scholarships and is active in over 200 communities and 14 foreign countries. For more information, please visit http://www.federallawenforcementfoundation.com.
On Friday, November 22, 2013, Thomson Reuters was proud to support New York’s Federal Law Enforcement Foundation. The Fraud Prevention & Investigations (FP&I) team hosted several former law enforcement professionals at the Thomson Reuters’ table. Pictured left to right in front are John Raucci, National football League, Anthony Giudice, Thomson Reuters, David Szady, Guardsmark and Frank Figliuzzi, General Electric. Standing, left to right are David Bennett, CarcoGroup, Russ Cherkes, Thomson Reuters, Shawn Henry, CrowdStrike, Stephanie Waschitz, Thomson Reuters and Natalie Runyon, Thomson Reuters’ Senior Security Executive. All of the non-Thomson Reuters guests are former career FBI Senior Executives. Not pictured is the photographer, Thomson Reuters’ Sr. Director of Investigative Resources and career FBI Special Agent Daniel J. DeSimone.
At the National Health Care Anti-Fraud Association Conference, Palantir Technologies hosted a presentation entitled “Follow the Waterfinders: Preventing the Next Opiate Overdose.” Participants learned how private and government insurance plans can identify at-risk patients by integrating claims data and public records sources available through Thomson Reuters CLEAR. A savvy analyst can conduct this analysis by:
- Mapping overdose diagnoses
- Identifying primary victims
- Identifying clusters of providers around overdose victims AND SCREENING FOR FRAUD INDICATORS USING CLEAR
- Identifying patients who receive overdose dosages of opiates and the providers who continue to write these prescriptions
Palantir Technologies and Thomson Reuters work together to develop fraud prevention and investigation tools for healthcare organizations.
Last week, Thomson Reuters was a proud supporter of International Fraud Awareness Week, which is organized by the Association of Certified Fraud Examiners (ACFE). The goal is to raise awareness of the widespread issue of fraud (which comes in many forms such as healthcare, insurance, corporate, and money laundering) and educate on its prevention. We hope we helped to accomplish this by offering articles on various fraud topics.
Thank you to those internal and external to Thomson Reuters who helped us promote this partnership and to everyone who reviewed our reading materials. We leave you with the following Thomson Reuters white papers to shed some light on various prevalent types of fraud and ways to get in front of this growing problem:
Findings of the “Identity Theft and Nexus to Illicit Activity” Team
Jason Thomas, senior analyst at Thomson Reuters, recently concluded his work on the IC Analyst-Private Sector Partnership Program. The IC Analyst-Private Sector Partnership Program, sponsored by the Department of Homeland Security’s Office of Intelligence and Analysis (DHS/I&A), on behalf of the Director of National Intelligence, seeks to establish collaborative partnerships between members of the private sector and teams of experienced Intelligence Community (IC) analysts. This annual program provides IC analysts and private sector partners with a better understanding of select national security and homeland security issues. This effort seeks to increase the depth of expertise among the participating analysts and is not intended as a mechanism for operational activities or formal coordination between industries and the Intelligence Community. The program will enable IC and industry partners to gain insight leading to a better understanding of their respective areas of expertise.
One of the areas of focus that have been selected for this year’s program is called “Identity Theft and Nexus to Illicit Activity.” Read The Current and Future Landscape of Identity Theft white paper and The Changing Face of Identity Theft infographic to take a closer look at identity theft. Both documents were developed by this team of partners and are timely reading materials during International Fraud Awareness Week.
How to better protect your online presence through encryption, proxies and alternative internet applications
In honor of International Fraud Awareness Week, we bring you the below article to help individuals better protect their devices and online dealings from fraudulent activities.
By Katherine Sagona-Stophel, Thomson Reuters
We live in an information age, and protecting your computer’s information is just as important as protecting your social security number. This doesn’t just mean smart password creation; it also means other precautions you may not be aware of. A script flaw or your inadvertent release of data to applications on your phone may provide extra personal information you may not even realize you’re releasing. This could potentially lead to fraudsters stealing your information without your knowledge.
I’ve been asked a lot by peers for suggestions on applications and programs that I personally use and recommend to protect your information from unwanted third parties. These recommendations are my own, and do not represent Thomson Reuters at large. This blog post is a result of many others asking me for privacy advice. If you don’t find an app or program you would recommend, don’t hesitate to comment below!
Honored by IACP Annual Award for Excellence in Criminal Investigation
On October 22, 2013, the International Association of Chiefs of Police (IACP) awarded its esteemed Award for Excellence in Criminal Investigation to three deserving winners in law enforcement to recognize innovation and excellence in criminal investigation. Read the Thomson Reuters press release on the winners.
In honor of International Fraud Awareness Week, we would like to place the spotlight on the first runner-up of this award, the Las Vegas Metropolitan Police Department (LVMPD). As noted in the Thomson Reuters press release, this group was recognized for its investigation of a criminal conspiracy where a Las Vegas businessman exerted control over a property management company in an effort to influence area homeowners associations to defraud more than $75 million from residents. From 2007 to 2012, LVMPD, with the help of federal investigators, uncovered the complex scheme, recovering 750,000 documents and securing more than 15 terabytes of data – at the time, the largest volume of evidence recovered by the Las Vegas division of the FBI. Through the organized police work of the LVMPD, $28 million in restitution, to date, has been agreed to be paid to victims, with this figure likely to climb through impending legal proceedings. Congratulations to the Las Vegas Metropolitan Police Department for a job well done in uncovering fraud!
November 3-9, 2013
Fraud comes in many forms such as healthcare, insurance, corporate, and money laundering and is a growing concern for corporations, government, and citizens who feel its widespread effects. Thomson Reuters is proud to support International Fraud Awareness Week which is organized by the Association of Certified Fraud Examiners (ACFE). We hope this initiative brings the topic to the forefront of media and helps to educate on how to prevent and deter fraud. Please stop by daily here on our Investigative Insights blog during the week of November 3-9 to learn more about fraud and how bringing together industry experts will help raise awareness to prevent and fight fraud.
We are excited about International Fraud Awareness Week and our participation in this educational and thought provoking initiative! We hope you will benefit from fraud week and our involvement.